By our reporter
Bank of Uganda Governor Prof. Emmanuel Tumusime Mutebile has sent Director in charge of supervision Justine Bagyenda packing.
Ms Bagyenda has been replaced with Dr Tumubweine Twinemanzi. Who has been working as Uganda Communications Commission (UCC) Director Industry Affairs and Content (Economic Affairs).
Ms Bagyenda who is currently on a leave, was supposed to retire in June.
Since last year, Bagyenda has been in the middle of controversies and recently the Inspectorate General of Government was petitioned to investigate her source of wealth which is estimated in millions of dollars by a one Dick Kimeze, a ‘concerned’ Ugandan citizen.
Kimeze, who describes himself as a social worker, says he is “committed to seeing the fight against corruption taken seriously and culprits dealt with.”
Kimeze further demanded that as the person in charge of supervision of all banks and non-bank financial institutions in Uganda, Bagyenda is liable for the failure of Crane Bank.
The Central Bank in 2016, took over Crane Bank, saying the financial institution owned by wealthy Kampala businessman Sudhir Ruparelia posed a systemic risk to Uganda’s banking industry.
BoU further took Sudhir to court on accusations of fraud, which charges the businessman’s lawyers have since dismissed as baseless.
Last year while the Central Bank Governor Tumusiime Mutebile in a media interview “distanced himself from any criminal culpability, he placed the blame on the supervision department of BoU headed by Ms Justine Bagyenda.”
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