Close Menu
The InsiderThe Insider
  • News
  • Politics
  • Crime
  • Business
  • Entertainment
  • Special Reports
  • Sports

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

aBi Finance trains top Tier 4 Financial Institutions on ESG integration

May 7, 2025

Shs 4Million Customs Fraud Scandal: Top Kampala Businessmen Charged in Massive Customs Evasion Scheme

May 7, 2025

Roko Signs Contract to Build National Planning Authority Headquarters

May 7, 2025
Facebook X (Twitter) Instagram
The InsiderThe Insider
  • News
  • Politics
  • Crime
  • Business
  • Entertainment
  • Special Reports
  • Sports
Facebook X (Twitter) Instagram
The InsiderThe Insider
Home » What Bobi Wine speaks about the 90 Billion BoU Saga
Politics

What Bobi Wine speaks about the 90 Billion BoU Saga

adminiBy adminiJune 16, 2019No Comments4 Mins Read
Facebook Twitter LinkedIn Email WhatsApp
Share
Facebook Twitter LinkedIn Email WhatsApp

Kyadondo East Member of Parliament Hon. Kyagulanyi Robert Ssentamu has finally given his take on the ongoing investigations into the central bank of Uganda.

This follows the operation carried out by the State House Anti-corruption unit led by Lt. Col Edith Nakalema and the and head of Criminal Investigation Department, Assistant Inspector of Police Grace Akullo to investigate deeper illegal items entered the country without clearance.

Commenting on the Saga, Bobi Wine described Uganda as a Kleptocracy ( a government with corrupt leaders (kleptocrats) who use their power to exploit the people and natural resources of their own territory in order to extend their personal wealth and political powers).

The presidential hopeful stated that Uganda is rule by a class of thieves.

“This system involves embezzlement of funds at the expense of the wider population. A kleptocracy is a government ruled by corrupt politicians who use their political power to receive kickbacks, bribes, and special favors at the expense of the population. Kleptocrats may use political leverage to pass laws that enrich them and they usually circumvent the rule of law.” Bobi wine Said.

He added that as the vast majority of Ugandan citizens continue to struggle to even afford a decent meal and as poverty levels continue to rise, Bank of Uganda officials printed 90 billion shillings in excess and took it out of Entebbe airport for their personal use. No one knows for how long this has been going on!

“After 33 years in power, it is now an understatement to call president Museveni’s government a mere dictatorship. It graduated from that stage a long time ago and is now a fully grown kleptocracy. Like it was in Zaire under Mobutu, government officials are stealing with reckless abandon- ‘taamu egenda’ style! Of course they have learnt from the best- the very head of state who treats the national treasury as his personal property! This is the real state of our nation. Oh Uganda, may God uphold thee!” Bobi Wine added.

It should be noted that another area of interest for the investigator is said to be the Shs478 billion that BoU claims to have used during the receivership of Crane Bank.

A probe by parliament’s Committee on Commissions State Authorities and State Enterprises (COSASE) established that BoU officials over the years closed seven commercial banks without following guidelines.

They are believed to have connived to dupe some of the banks of their money. For instance some banks like cooperative bank, Greenland Bank and International Credit Bank had their assets sold at over 90 per cent discount even though some had valid documentation like land titles.

As the investigation continued, it was revealed that extra cash had been printed and was inserted on to the plane after the billing of lading had been cleared by the agents and the plane authority.

However, according to interrogators, the airplane authority came out first and apologized acknowledging that they had been duped by the two officials to load extra cash and items despite the clearance from the German authorities.

It is at this time that Director Malinga who had been on leave got involved because his name had been dragged in, accordingly, Mr. Malinga is said to have informed the Governor Emmanuel Mutebile about the incident and thereafter, the two agreed to brief the President and State House Anti-Corruption Unit.

Upon briefing the president, it is said he was furious about the incident and immediately directed that Lt. Col. Edith Nakalema and head of Criminal Investigation Department, Assistant Inspector of Police Grace Akullo investigate deeper to find out where the said balance of the Shs90 billion is and also established the motive by the culprits.

bobi wine BoU Investigation featured
Share. Facebook Twitter Pinterest LinkedIn Email WhatsApp
admini

Related Posts

Road Network In Jeopardy!!! SHS3.5 Trillion Owed, Projects Stalled, Lives Lost

May 6, 2025

Debate Continues in Uganda on Media Freedom as Challenges Mount for Journalists and regulators

May 5, 2025

Human Rights Judge Turned Human Trafficker: Justice Lydia Mugambe Jailed 6 Years For Modern Slavery

May 5, 2025

Comments are closed.

Recent Posts
  • aBi Finance trains top Tier 4 Financial Institutions on ESG integration
  • Shs 4Million Customs Fraud Scandal: Top Kampala Businessmen Charged in Massive Customs Evasion Scheme
  • Roko Signs Contract to Build National Planning Authority Headquarters
  • Torture Has No Place in Justice!!! — Minister Norbert Mao Slams Abuse of Eddie Mutwe’s Rights, Demands Accountability
  • Stanbic National Schools Championship 2025 Boot Camp Kicks in High Gear
  • Focus on research, Tayebwa challenges university lecturers
  • I Was Sodomised By Pastor Kayanja! — Key Accuser Breaks Down In Explosive Court Testimony
  • Road Network In Jeopardy!!! SHS3.5 Trillion Owed, Projects Stalled, Lives Lost
  • APPOINTMENT: Francis Nyende Named Marketing Manager for Uganda Tourism Board
  • Tayebwa rallies support for new malaria vaccine
  • Stanbic Bank Uganda, UN Women take financial literacy to Women in West Nile Refugee Camps
  • Debate Continues in Uganda on Media Freedom as Challenges Mount for Journalists and regulators
Our Picks

Road Network In Jeopardy!!! SHS3.5 Trillion Owed, Projects Stalled, Lives Lost

May 6, 2025

Human Rights Judge Turned Human Trafficker: Justice Lydia Mugambe Jailed 6 Years For Modern Slavery

May 5, 2025

Prominent Ugandan Businessman Rajiv Ruparelia Dies in Tragic Car Crash

May 3, 2025

Lukwago Bitter With Court, Condemns Besigye, Lutale Rights Violations in Custody

May 1, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss

aBi Finance trains top Tier 4 Financial Institutions on ESG integration

Business May 7, 2025By Our Reporter3 Mins Read2,009 Views

aBi Finance is equipping Uganda’s leading microfinance institutions and SACCOs with the tools to integrate Environmental,…

Shs 4Million Customs Fraud Scandal: Top Kampala Businessmen Charged in Massive Customs Evasion Scheme

May 7, 2025

Roko Signs Contract to Build National Planning Authority Headquarters

May 7, 2025

Torture Has No Place in Justice!!! — Minister Norbert Mao Slams Abuse of Eddie Mutwe’s Rights, Demands Accountability

May 6, 2025

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

We bring you News Beyond borders in Categories of Politics, Technology, Finance, Education, Tour & Travel, Lifestyle and Crime

We're accepting new partnerships right now.

Email Us: info@theinsider.ug
Contact: +256 774 987 590

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp
Our Picks

Road Network In Jeopardy!!! SHS3.5 Trillion Owed, Projects Stalled, Lives Lost

May 6, 2025

Human Rights Judge Turned Human Trafficker: Justice Lydia Mugambe Jailed 6 Years For Modern Slavery

May 5, 2025

Prominent Ugandan Businessman Rajiv Ruparelia Dies in Tragic Car Crash

May 3, 2025
Facebook X (Twitter) Instagram Pinterest
© 2025 The Insider Uganda. Designed by Mirror Digital Limited.

Type above and press Enter to search. Press Esc to cancel.