Deputy Governor Bank of Uganda Louis Austin Kasekende has again come under spotlight for using his family to get unsecured loans from commercial banks in the city.
According to a source at the Bank of Uganda, Kasekende has been fronting his son George Kasekende to arm twist commercial Banks and get unsecured loans to his personal account without being detected by Uganda Revenue Authority.
The bank account number 3200670339 product 32111 savings general personal ordinary in the names of George Kasekende is being held at Centenary bank Entebbe road branch.
The account as at 08/12/2015 had an opening balance of shs 110, 850, 900, 00.
On 8/12/2012, a one Brian withdrew shs 200,000 and balance was 8984900,000.
On 01/12/2015, Brian withdrew shs 22,000,000; on 20/01/2016 Brian further withdrew shs 22000,000 and 2000,000 on 25/01/2016.
On March 18/2016, George Kasekende deposited cash 40, 000, 000.10/08/2016 and on 10/08/16 he also deposited cash shs 25,800,000, Edith Kasekende deposited cash shs 35000,000 on 17/09/2016, on 20.10/2016, Brian Kasekende withdrew shs 2000,000, on December 18 Edith Kasekende deposited cash 50,000,000. Eddy Kasekende on 28/12/2016 deposited shs 10,000,000/-, on 31/01/2017 Kasekende withdrew shs 12500,000/=, on 1/02/2017 Eddy Kasekende deposited cash 42,800,000/=, on 15/02/2017 Brian Kasekende withdrew cash 15000,000=, on 17/02/2017 Edith Kasekende withdrew shs 12,900,000-, on 24/04/2017 Emmy withdrew cash shs 10,000,000, on 05/5/17 Paul Okwalinga withdrew cash shs 7000,000/-.
On 31/06/2017 Eddy Kasekende withdrew shs 8000,000, on 01/06/2017 Edith Kasekende deposited cash shs 7400,000/=, on 17/7/2017 Eddy Kasekende deposited shs 25000,000/-, on 20/7/2017 Brian Kasekende deposited cash 3000,000/, on 26/07/2017 Eddy Kasekende deposited shs 20,000,000-.
On 07/08/2017 Eddy deposited shs 3,200,000/, on 11-09-2017 Emma withdrew shs 40,000,000, 19/09/2017 Eddy Kasekende made a deposit of shs 31000,000, on 26/09/2017 Edith Kasekende withdrew 15500,000, on 5/10/2017 Edith Kasekende withdrew shs 21000,000, on 20-04-2018, Edith Kasekende deposited cash shs 55000,000 and lastly on 15/04/2018, Edith Kasekende also deposited cash shs 8000,000.
Total credits were shs 780665,000 while total deposits were 501, 319228/-
Among Kasekende’s business that have been benefiting from unsecured loans include Green Hill Holdings located in Kibuli Kampala which he co-owns with his wife that is also involved in another mother of scandals with Stanchart bank Speke road branch.
The Inspector General of Government (IGG) is currently investigating Kasekende and his boss Mutebile Emmanuel over possible abuse of office and corruption.
The IGG has since interested in knowing their income multi billion assets and in upscale areas of Kampala, Wakiso and other areas.
For instance, the declarations to the IGG also contain full details on where senior BoU officials got the money for buying the prime assets in question, including posh cars.
Also, section of MPs the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) want Louis Kasekende to step aside and allow investigations into his wealth.
“If you know that you are innocent, then why are you worried? Step aside and allow the IGG do their work,” Oyet said.
Led by Nwoya MP, Simon Oyet told the media last week at Parliament that Inspectorate of Government (IGG) has always been very active when carrying out investigations but how come they are not on top of this big one that involves prominent individuals.
He added that it’s hard for a person holding an office to be investigated because there are chances that such a person can interfere with the investigations.
Ngora MP, David Abala rubbished claims by Kasekende that some legislators are being used to fight him saying that he should just corporate and let the law take its course.
Emmanuel Tumusiime Mutebile and Deputy Governor Louis Kasekende will appear before the committee on Wednesday next week to explain circumstances that led to the closure of seven banks.
In the report, the Auditor General, John Muwanga cites irregular operations at Bank of Uganda (BoU) including glitches in the closure and controversial sale of at least seven commercial banks.
The affected include Teefe Bank which was closed in 1993, International Credit Bank Ltd (1998), Greenland Bank (1999), The Co-operative Bank (1999), National Bank of Commerce (2012), Global Trust Bank (2014) and the recent 2016 sale of Crane Bank Ltd to DFCU at Shillings 200 billion.
The forensic report established among others unaccounted for money in BoU, missing land titles, disputed payments to external lawyers and customer loans that were inherited from the closed banks and sold at lower rates without justification.
The report indicates that assets worth Shillings 23 billion formerly owned by Global Trust Bank (GTB) were not transferred to DFCU in the purchase and assumption agreements when the bank was closed in July 2014.
The assets included Shillings 6.6 billion in cash balances, Shillings 2.3 billion as amount due from other banking institutions, Shillings 5.6 billion in property and equipment, intangible assets and Shillings 2.4 billion deferred tax and others.
The forensic report also indicates that Shillings 9 billion couldn’t be traced. The money was taken from other banking institutions as indicated in the inventory report, but wasn’t reflected on the recovery account.
Muwanga also faulted BoU officials for selling Crane Bank assets and some liabilities to DFCU bank without valuation. The Central Bank is also on the spot for selling 79 percent loans it acquired from International Credit Bank, Cooperative Bank and Greenland Bank in 2007 despite having closed the banks in 1998 and 1999.