The Internal Security Organisation (ISO) and the Inspector General of Government (IGG) have been tasked to start fresh investigations on the top leadership of Bank of Uganda (BoU) according to tips reaching Matooke Republic news desk.
According to our sources, following the revelation by the State Minister for Finance David Bahati that the Central Bank has been making losses amounting to Shs2 trillion for the past 13 years, President Museveni decided to order for investigations into a series of financial mismanagement at the bank.
The officials to be investigated include; former BoU Deputy Governor Louis Kasekende, former Director for Commercial Banks Supervision Justine Bagyenda, Head of Legal Margaret Kasule and Benedict Sekabira, BoU Director for Financial Markets Development Coordination among others.
The fresh investigations have seen ISO come on board and according to sources, this is because the office of IGG has delayed to release a report about its previous investigations on the bank.
“The appointment authority is unhappy with IGG delay on findings of the investigation on the top leaders at BoU. And therefore, he has instructed ISO to join the fresh investigations so as to have a genuine report,” said a source.
For Head of Legal Margaret Kasule and Director of Financial Markets Development Coordination Benedict Sekabira, they are already under investigation by the Col Edith Nakalema-led State House Anti-Corruption Unit.
The Corruption Unit wants to unfold the exact details in the payment processes of two city lawyers Timothy Kanyerezi Masembe of MMAKS Advocates and David Mpanga of A.F. Mpanga Advocates.
According to sources, the two directors are alleged to have sanctioned the payment of Shs6 billion to Masembe, Kanyerezi, and Mpanga. Sources further allege that although this money was released as legal fees, however, its intended purposes is to cover all the legal loopholes in the case of Crane Bank Limited takeover.