BOU’s Bagyenda Wealth Accumulation Investigated

Justine Bagyenda INTERNET PHOTO Justine Bagyenda

Bank of Uganda director for supervision Justine Bagyenda is in hot soup after office of Inspector General of Government (IGG) sanctioned investigation to establish how she accumulated her wealth despite earning a not so big salary – a monthly salary of only Shs32m.

In August this year, a ‘concerned’ Ugandan citizen, Dick Kimeze, through his lawyers Denis Nyombi & Co. Advocates, petitioned the IGG to investigate how Bagyenda accumulated her vast wealth. Bagyenda, it has been established owns an assortment of real estate property in plush Kampala suburbs.

Also, Denis Nyombi a lawyer from Denis Nyombi & Co. Advocates is quoted by the media saying he is privy to information that Bagyenda under declared her assets and liabilities to the IGG, contrary the Leadership Code Act, 2002.

As petitioners, Dick Kimeze and his lawyer demanded that IGG investigates the character of Bagyenda, which the IGG has granted. Munila Ali, the IGG spokesperson, told media on Thursday that a meeting was held with the petitioner. Munira added that subsequent meetings with the petitioners are scheduled before Bagyenda is involved.

“We met with lawyers of the petitioner a few days ago. The initial meeting was intended to listen to the complainant as he explains his issues. So after listening to petitioner we asked that his client comes over in person and we listen to his complaint.” Munira is quoted by Daily Monitor.

One of the properties reportedly owned by Bagyenda

Kimeze, a social worker and committed fighter against corruption wants Bagyenda to be investigated for prosecution over incompetence and possible corruption and fraud in relation to the ongoing saga between BOU and Crane Bank.

Bank of Uganda, and specifically Bagyenda, has been faulted for doing a bad job supervising Crane Bank. Some speculators attribute this hovering corruption embedded in the confines of the central bank.

Bagyenda wealth and Properties

The Office of the Inspectorate of Government has since August this year received several photographs of residences and residential apartments in leafy suburbs of Kampala including Bugolobi, Naguru, Mbuya and Ntinda that reportedly belong to Bagyenda.

One of the prime properties includes a condominium registered as number 0025 on Plot 410-411 Makerere Hill Road Land at Kampala, a residence on Plot 28, Kimera Close, Ntinda, posh condominium blocks situated on Plot 5A Sunderland Avenue Kampala measuring 213 square metres, a property located on Plot 20, Balikuddembe Road, a posh apartment in Bugolobi.

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