The Uganda Financial Intelligence Authority (UFIA) has launched an investigation into Justine Bagyenda, the former Bank of Uganda executive director for commercial banks supervision over alleged illegitimate accumulation of wealth.
The development comes against the backdrop of vigorous quizzing of Bagyenda a few days ago by the Inspector General of Government (IGG), Irene Mulyagonja, who wanted to find out how she (Bagyenda) had amassed several assets in Kampala and lots of money that was exposed in different fixed deposited accounts in some banks in Uganda.
According to Sydney Asubo, the executive director of UFIA, they received information from an unnamed whistleblower who claimed that Bagyenda had “assets and finances” that do not correspond to “her earnings.”
It was after these allegations, according to Asubo, that the Authority decided to kick off an investigation after which they will share information with relevant law enforcement agencies to take action.
“… Whatever information we have we share it with law enforcement … we are still compiling information about the financial dealings of the director (Bagyenda) and then we have to verify that information,” Asubo said.
Bagyenda came under intense scrutiny after a concerned citizen implored the IGG in August 2017 to probe into how she amassed multiple assets in Kampala.
Through his lawyer, Dickwitington Kimeze claimed that he had information about properties belonging to Bagyenda, which she could not have declared as stipulated under the Leadership Code Act.
The said Act demands that a person shall within three months after becoming a leader and thereafter every two years, during December submit to the IGG a written declaration of the leader’s income, assets and liabilities.
Kimeze’s petition showed that Bagyenda owns various prime properties, including condominium plans at Makerere Hill Road, Sunderland Avenue in Bugolobi and plots of land at Kimera Close and Balikudembe Road.
When question by the IGG recently, Justine Bagyenda, according to reports, was not able to avail substantial information detailing how she accrued all that wealth.
Muyangonja revealed that investigations were still ongoing.
The Leadership Code Act demands that a person shall within three months after becoming a leader and thereafter every two years, during December submit to the IGG a written declaration of the leader’s income, assets and liabilities.
Section (7) of the Leadership Code Act: Where a declaration is made by a leader in respect of himself or herself or any person under this section, where the leader or that person is found to be in possession of assets and income disproportionate to the known source of income which he or she cannot satisfactorily account for, the leader shall be taken to have breached this Code.