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Bagyenda
Bagyenda as been reappointed as FIA board member. COURTESY PHOTO

Bagyenda Reappointed FIA Boss Amidst Corruption Controversy

According to a letter dated May 7, 2018 addressed to Speaker Rebecca Kadaga, Finance minister Matia Kasaija has re-appointed Bagyenda to the FIA board. Her appointment is controversy considering that she is under investigation by same body over her source of wealth.
posted onJuly 20, 2018
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By Max Patrick Ocaido

Justine Bagyenda, the former Executive Director-Supervision at Bank of Uganda has been appointed to the Board of Financial Intelligence Authority (FIA) amidst corruption controversies.

Bagyenda has been serving as a board member of FIA, a government agency established by the Parliament of Uganda to monitor, investigate, and prevent money laundering in the country.

According to a letter dated May 7, 2018 addressed to Speaker Rebecca Kadaga, Finance minister Matia Kasaija has re-appointed Bagyenda to the FIA board. Her appointment is controversy considering that she is under investigation by same body over her source of wealth. Bagyenda who was in February sacked as BoU boss is under investigation by the Inspector General of Government (IGG) over allegations of illicit accumulation of wealth.

“Under Section 26(1) of the Anti-Money Laundering Act, members of the Financial Intelligence Authority (FIA) board serve for a term of three years and are eligible to be re-appointed for only one term. Given the satisfactory performance of the Board during its first tenure, I recommend the re-appointment of the current members of the Board,” Kasaija’s letter reads.

A Whistle blower petitioned the IGG’s office, over Bagyenda’s wealth that wasn’t commensurate with her earnings. A list of 17 prime properties belonging to Bagyenda and her close relatives also leaked. Bagyenda was the subject of several investigations including the IGG’s office and possible money laundering by FIA. Bagyenda has accumulated more than Shs19 billion within a space of two years. The money was allegedly saved in various local banks.

 

 

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