MPs quiz BoU officials over Departed Asians properties
Bank of Uganda Deputy Governor Louis Kasekende (right) and Counsel Margaret Kaggwa (left) after appearing before a select committee on Commissions, Statutory Authorities and State Enterprises yesterday.
PHOTO BY ALEX ESAGALA
Bank of Uganda (BoU) officials led by Deputy Governor Louis Kasekende were yesterday tasked to explain why the Central Bank has failed to pay Shs800m that the Departed Asians’ Properties Custodian Board (DAPCB) lost in one of the defunct banks.
BoU officials were appearing before a select sub-committee under Commissions, Statutory Authorities and State Enterprises (COSASE) investigating circumstances under which properties that were compensated for by government have been grabbed.
The Members of Parliament have since asked the government officials who handled the Departed Asians properties to table proof of compensation for each property.
The select sub-committee is chaired by Makindye East MP Ibrahim Kasozi.
The MPs informed Mr Kasekende that while appearing before the Committee last week, the DAPCB executive secretary, Mr George William Bizibu, said BoU has been reluctant to compensate the money the entity had in National Credit Bank before it was closed.
But Mr Kasekende said all the people and companies were compensated and that he does not remember a claim from DAPCB. “We wrote out information and published in the newspapers asking those who had accounts to come for their money. The Custodian Board should explain why they did not come. According to the information I have, all account holders were paid. Why is this an exception?” Mr Kasekende said.
The Deputy Governor was tasked to explain the anomalies in the documents listing the properties whose original owners government compensated through United Nations High Commission for Refugees and British High Commission.
Samia Bugwe South MP Gideon Onyango said while perusing through the list of compensated properties submitted by BoU, he identified a number of them on which payments were made at least twice.
“In Annex C, it is indicated that Plot 7 Kanjokya Street was paid for by government to two different people with the same amount,” Mr Onyango said.
Mr Kasekende said BoU only effected payments as a “paying agent” acting on the instructions of DAPCB.
“The paying agent will not answer those questions. I have not made an audit of how many properties were compensated. The information we are giving you, we got it in our archives,” he stated.
Despite not revealing to the Committee the amount of money government spent on compensations, at least 450 properties were compensated.
BBUMBA NAMED
Former Finance Minister Syda Bbumba was yesterday named among the government officials that had a hand in the dubious acquisition of several Departed Asians properties that were never repossessed by the owners. Appearing before the same committee, Capt Bernard Tumwesigire, who served as DAPCB executive secretary from 2009 to 2017, said Ms Bbumba (Nakaseke North MP) sanctioned the sale of Plot 16B Old Kampala to Col Atwooki Ndahura at Shs60m without depositing the money to DAPCB account.
