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IGG Probe Clears Kasekende, Bagyenda Of Illicit Wealth Accumulation

The Inspector General of Government, Justice Irene Mulyagonja has cleared the Deputy Governor, Bank of Uganda (BoU) Dr. Louis Kasekende and the former Executive Director, Banking Supervision (BoU), Justine Bagyenda (in featured photo) have been cleared of illicit accumulation of wealth after investigations revealed that the wealth of the two was commensurate with their incomes.

The IGG revealed that there was no evidence of false accumulation of wealth as well as the other officials from Government who were subject of investigation after leaked documents raised eyebrows in public on how they came to acquire their wealth.

Kasekende

Justice Mulyagonja made the announcement while appearing before the Legal and Parliamentary Affairs Committee where she led the Inspectorate team to present their 2019/2020 Ministerial Policy statements.

Highlighting some of the achievements registered by the Inspectorate, Mulyagonja said that they finalized verification of 39 (26%) leaders declarations out of the biannual target of 150 and the total incomes verified and investigated was Shs342,621,309,182 while the assets verified and investigated were worth Shs33,841,542,344.

She explained; “The verification exercise revealed that all the declarations were commensurate with known sources of incomes and there was no evidence of illicit amassing of wealth.”

Documentation availed to the Committee indicated that the verified officials were from Bank of Uganda, Ministry of Education, Micro Finance Support Centre, Ministry of Foreign Affairs, Ministry of Internal Affairs, Ministry of Health, Ministry of Finance, National Agricultural Research Organization, Ministry of Local Government, Ministry of Tourism, Ministry of Energy, OPM, NSSF among others.

However, a total of 138 verifications were still ongoing by the end of the quarter and added that further investigation into the conduct of Bagyenda also found she didn’t breach any codes into the Leadership Code, “All investigations in the breach of the leadership code of conduct were conducted on none leaders from OPM, Ministry of Foreign Affairs, UNRA, URA, Bank of Uganda and Ministry of Finance all of them were found not to be in breach of the code,” said the IGG.

It should be recalled that Bagyenda and Kasekende’s wealth was subject of debate in 2018 after leaked transaction records exposed how she accumulated Shs20bn, within six years with most of her bank accounts reflecting a zero balance and undisclosed sources of funds.

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