Parliament to Investigate Kasekende and Bagyenda’s ‘Overwhelming’ Wealth


BOU's Deputy Governor, Louis Kasekende (R) and former Executive Director for Bank Supervision, Justine Bagyenda (L).
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A section of Members of Parliament (MPs) sitting on the Parliament Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) want officials of the Financial Intelligence Authority (FIA) summoned before the committee to explain the unexplained wealth allegedly amassed by the BOU Deputy Governor, Louis Kasekende and the former employee of the Central Bank, Justine Bagyenda.

The call was made following the laying on table of documents on Thursday by Aruu County MP, Odonga Otto allegedly indicating that Kasekende owned up to 72 properties.

Otto told the committee chaired by Bugweri County MP, Abdul Katuntu that according to the Auditor General’s report, BOU sold assets worth Shs 164bn of the 5 defunct banks at a discount of 80 percent yielding only Shs 32bn.

“I would like to hand over 16 land titles which we confirmed are in Kasekende’s personal names after conducting a search in the Ministry of Lands,” Otto said.

The Aruu county legislator alleged that Kasekende had transferred 18 other titles in the names of his driver, a one Moses Musitwa while 35 other titles are all in the names of family relatives all bearing the name Kasekende.

Otto as well tabled the transfer list of monies to a tune of Shs 1.9bn from Marx and Company Advocate into the account of Edith Kasekende, wife to Louis Kasekende.

Kasiro County MP, Elijah Okupa as well tendered in documents showing the bank statement of Juma Kisame, the former Managing Director of DFCU Bank who had US$ 40m on his bank account but withdrew the money within two months.

“Bagyenda should confirm whether she owns the accounts in banks – DFCU, Barclays, DTB, Centary Bank, GT Bank, Standard Chartered Bank as well as the attached bank statements on the said accounts,” Okupa said.

“The Financial Intelligence Authority (FIA) should be summoned here to answer some of these questions because they are charged with the responsibility to do this and Bagyenda worked there as a director,” Okupa added.

Upon receiving the documents, the Bugweri county MP, Abdul Katuntu who chairs the probe committee constituted a sub-committee of three members chaired by Anita Among, Francis Takirwa and Shirah Mwine for purposes of verifying the authenticity of the documents presented.

The sub-committee has been given up to Tuesday next week to report back to the committee with the relevant findings and recommendations.

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