By our reporter

Former Bank of Uganda’s head of supervision has hit another rock a day after the inspector general of government quizzed her over her vast wealth in line with the leadership code.

On Thursday at 11am, Ms Justine Bagyenda whose bank records show she keot over sh20 billions in different banks, has been summoned by the Financial Intelligence agency which oversees money laundering and other criminal financial transactions, to evaluate if an official investigation should be opened into her transactions.

FIA is a feared agency as it investigates matters criminal in nature, which might lead Ms Bagyenda to criminal prosecution and prison. Ms Bagyenda is expected to explain to FIA bosses how she generated over sh20 billions in her six years as Director of Supervision at BoU.

Bagyenda has been thrown into the eye of storm as several government agencies come after her following reports of her vast wealth. Parliament has ordered an audit into her department to come to terms with what transpired as several banks winded down including Global Trust Bank, National Bank of Commerce and Crane Bank during her term as Director of Banks supervision. The IGG is also pursuing another line of investigations which are likely to leave Bagyenda in the deep hole.

It has since emerged for example that when Bank of Uganda sold sh1.3 trillion trillion Crane Bank to DFCU at a give away price of just sh200 billion, there were clauses where the buying bank continues remitting money collected from loans and sharing percentages with the Bank of Uganda. All these transactions were done without the knowledge of the shareholders of the closed banks.

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