Many Ugandans are perplexed at how the former director supervision at Bank of Uganda accumulated over Shs20bn she has stashed in three local banks. Apart from the said huge sums of money, Bagyenda has vast property portfolios spread across the country.
Justine Nuwagaba Bagyenda, the former Bank of Uganda Director for Supervisions has broken the record in Uganda by turning out to be richer than her former boss Dr. Emmanuel Tumusiime Mutebile, who is the BoU governor.
Bagyenda, according to sources at BoU, is hiding over Shs19, 302441,183, on three accounts in separate Banks in Uganda. What is shocking and surprising many of her colleagues at BoU is that she made all that money in just six years from 2013 to this year when she was shown the exit.
This means that Whereas her former boss Mutebile earns Shs53.3 million per month and is the highest salary earner in Uganda, Bagyenda’s is said to have been earning or saving Shs266,7223732 per month or Shs66.6 million per week between 2013 and 2018, which saw her bank balance accumulate to the tune of over Shs19Bn.
Auditors at BoU were further shocked on learning that Bagyenda operates both Shillings and Dollar accounts in Diamond Trust Bank, Centenary, Barclays banks on which she is stahing away the billions, although how she accumulated all this money has remained subject to lots of queries.
Sources reveal that Bagyenda owns account number 5106903903 in Diamond Trust Bank described as ‘low start savings account’ which as of December 01, 2017, had a total of Shs11.4 billion.
The same account is expecting another Shs429 million on March, 07 2018 when the Shs179 million she fixed in September 2017 at 10 per cent rate matures. It is also said that by October 21, 2017, her shillings account at Barclays had a balance of Shs98 million, while her dollars account number 5106903904 in Diamond Trust Bank, named Prime Dollar Saving, as of November 20, 2017 had US $1,074,450 which, at a conservative Shs3500 exchange rate translates to Shs3.76 billion.
Her bank statement does not however capture the US $315,717(Shs1.1 billion) which, a certificate of deposit shows she earned from a fixed account transaction after she had deposited $176717 on 29 December 2016 at a 4.75 per cent rate. The transaction matured a year later.
The same account is expecting US $214,149(Shs750 million) to drop on December 29, 2018 when a US $214149 fixed deposit she made matures. The question that has remained on the lips of her bosses and auditors at Bagyenda accumulated all this money within just the six years she has worked with BoU.
On top these billions, Bagyenda also owns 20 properties in various parts of the country also worth billions of shillings. These include: Land comprised in LRV 2897 Folio 11 Plot N0. 21 at Museveni Road in Ntungamo district, LRV 2897 Folio 12 Plot 19 land at Museveni Road in Ntungamo district, LRV KCCA 86 Folio 22, Plot No. 1-7:53 land at Bugolobi Nakawa.
Other properties are LRV 3553 Folio 23 Plot No.43 Land at Peninsular Road, Kampala Central Division, LRV KCCA 89 Folio 24 Plot No.50 Land at Kampala Central Division, FVR 629 Folio 11 Plot 5 land at Sunderland Avenue, LRV 2631 Folio 10 Plot No.28 land at Kimera Close, LRV 3255 Folio 10 Plot No.410-411 Land at Makerere Hill Road, Kampala.
Also LRV 2139 Folio 8 No. 20 Land at Balikuddembe Road, Kampala, LRV 2139 Folio 8 Plot 20 Balikuddembe Road, LRV 325 Folio 10 Plot No. 41-411 Block 82 Land at Bugolobi, LRV 2631 Folio 10 Plot No. 28 St. Kizito Close, Bugolobi, LRV 629 Folio 11 Plot No. 5A Block 82 Bugolobi, Block 20 Plot no. 629 Kiwatule Nakawa Division belong to her.
And Block 20, Plot No.629 land at Busega, Rubaga Division, Block 252, Plot No. 105A land at Nakawa Division, Block 200, Plot No. 1548 Land at Munyonyo Makindye Division, Block 205 Plot No.1352 land at Nakawa Division, LRV 2156 Folio 10 land at Ntungamo, LRV 2890 Folio 10 Plot No. 10 land at Kaguta Road, Mbarara Municipal Council, among others.