Seven MPs to probe UTL fraud

What you need to know:

  • Ms Kadaga ruled that the committee will investigate utl and determine the extent to which the company is complying with Uganda’s company laws and regulations, among others.
  • Mr Stephen Kaboyo (board chairman), Mr Mark Shoebridge (managing director) and Mr David Nambale (corporation secretary) are some of the top officials lined up for interrogation.

PARLIAMENT. Speaker Rebecca Kadaga on Thursday named a seven-member committee of MPs to investigate the financial turmoil at Uganda Telecom Ltd (utl) with scandals ranging from irregular sale of prime properties, indebtedness to collusion and unequitable remuneration.
Chua West County MP Phillip Okin Ojara (Ind) will chair the committee expected to produce a report into the mess that has sent the company to the brink of collapse. Other MPs on the committee include Michael Tusiime (NRM, Mbarara Municipality), William Nzonghu(FDC,Busongora CountyNorth),Thomas Tayebwa(NRM,Ruhinda County North), Paul Akamba(Ind, Busiki County), Lillian Nakatte (NRM, Luweero Woman) and Paula Turyahikayo (NRM Rubabo County).

Ms Kadaga ruled that the committee will investigate utl and determine the extent to which the company is complying with Uganda’s company laws and regulations, among others.
Parliament last week ruled to institute a select committee to probe utl after the Budadiri West MP Nandala Mafabi tabled evidence pointing to scandals at the company with top executives like the managing director, chief finance officer, chief legal officer and chief human resource officer singled out for investigations.

Mr Stephen Kaboyo (board chairman), Mr Mark Shoebridge (managing director) and Mr David Nambale (corporation secretary) are some of the top officials lined up for interrogation. Mr Nambale and Mr Shoebridge will be tasked to explain the alleged sale of land in Nsambya at an undervalued cost where Plot 1-7 Nsambya Road were sold at $1.5m, far below the market value which had been put at $5.4m. Businessman Bob Kabonero signed for Intercar (U) Ltd in this controversial deal. The committee will investigate the top executives over alleged asset stripping of the company as well as possible diversion of Shs16b worth of unremitted deductions from employees to the National Social Security Fund (NSSF).