FIA should investigate Justine Bagyenda’s Shs500m mobile money transactions

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Kagenyi Lukka

The name Justine is and has grown to be one that is identifiable with controversy right from the crippling of operations of crane bank, its priceless give away to DFCU bank, then her exposed contemptible bank accounts and swanky properties.

Ugandans were treated to more controversy when she was forced out of her coveted position as executive director, commercial banks supervision at BOU in the February staff changes by the governor, Emmanuel Tumusiime Mutebile.

She mysteriously fought hard to retain a job she held with unbridled tenacity to detriment of those that cared about sanity in the financial sector.

Yes she fought hard, but as it turns out, she wanted to keep on holding to her position to insulate herself from exposure as threatened nearly everyone who attempted to associate her with questionable wealth and incompetence.

These were simply kicks of a dying horse as her bank accounts indicating that she had close 20 billion shillings were leaked sparking off public debate that isn’t soon to end. These accounts are in Diamond Trust Bank, Barclays bank, Centenary bank, GT banks among others.

Her fat bank accounts raised a billion questions as to how she accumulated all that money that isn’t commensurate with her official salary at BOU prompting a number of financial experts, lawyers, bankers and observers  to point to the possibility that she was involved in fraudulent activities.

“In case she cited an irregularity with in a commercial bank, she would get a bribe to conceal it”, an online publication quoted a certain bank official that preferred anonymity.

As a consequence, a whistle blower petitioned the IGG to investigate Bagyenda’s healthy bank accounts and swanky properties.

Importantly, a whistle-blower also petitioned the Financial Intelligence Authority to investigate her over her financial dealings and wealth. “The information we have, we shall share it with other law enforcement agencies. We are still compiling information about the financial dealings of Bagyenda. We shall then have to verify it”, said Sydney Asubo, the gaffer at FIA on 24th March 2018.

The FIA was established under the anti-Money Laundering Act of 2013 to combat money laundering activities.

Syney Asubo and FIA should interest himself, and investigate Justine Bagyenda’s mobile money transactions whose statements indicate that she made mobile money transactions to the tune of Shillings 499,428,906 million in just a period of three years.

Bagyenda’s mobile Mobile money deal can be a money laundering tactic commonly referred to as smurfing , where a person breaks up large chunks of cash into multiple small deposits, often spread out over many different accounts, to avoid detection.

 

A closer look at Bagyenda’s statement and that of her son, Robert Muhumuza indicate that the two were in constant exchange of moneys.

The two, exchanged nearly 500 million Uganda shillings!

It should be recalled that Bagyenda was the chairperson of Anti-money Laundering Committee. I’m convinced that she knew what is involved, what is easy to detect and not hence resorted to use of tactics such as mobile money. The intervention by FIA is only timely.

By investigating her over possibility of money laundering, FIA will help answer overbearing questions related to her transactions. For future purposes, it will in the long run prevail on greed by public and civil servants.

Kagenyi Lukka is a current affairs analyst and an aspiring Mp,Ikiiki constituency.

 

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