Bagyenda Moved A Whooping Shs500m On Her Mobile Money In Only 3 Years

Justine Bagyenda Justine Bagyenda

By now any Ugandan with access to news knows that Bank of Uganda director in charge of supervision is filthy rich. The much feared woman is reportedly hiding over Shs20bn in different local banks.

Well the iron lady as she is fearfully referred to as in the banking circles has not only been moving huge sums of cash in banking halls but also on her know MTN Uganda mobile money account.

Details that have been leaked to public reveal that in the last three years, Bagyenda has moved in excess of Shs500m. Bagyenda has been receiving sizeable chunks of money from various numbers for reasons we couldn’t verify.

While she has been receiving mobile money from different numbers, Bagyenda has been been forwarding part of this money to a one Robert Muhumuza who media sources are describing as a close relative. She has also received money from Muhumuza on a couple of occasions.

For example, on the Friday afternoon of 3rd July, 2016 Bagyenda received Shs500, 000 from Muhumuza. She would thereafter a few minutes send Shs405, 000 to another. A close look on the transactions indicates that highest value she moved was Shs2m and the lowest was Shs12000.

Bagyenda, now fighting for her survival and to retain her job at the central bank despite being sent into early retirement, also used her mobile money account to pay bills like electricity and water.

Recently, similar leaked documents indicated that Bagyenda has moved and is hoarding Shs20bn in different local banks. The manner in which she moved this money has attracted investigators from Uganda Financial Investigative Authority to ascertain how she accumulated that wealth.

The inspector general of government (IGG) is also investigating her wealth after it was revealed that astronomically owns multimillion properties in and around Kampala and other major upcountry towns. This wealth according to IGG doesn’t tally with her known salary and income something that contravenes with the leadership code.

The executive director of Uganda Financial Intelligence Authority Sydney Asubo has said they have received information from an unnamed whistleblower claiming 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.

Last modified onWednesday, 28 March 2018 11:01

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