Cosase probe: Businesswoman fails to explain how she got defunct banks assets, arrested

A Ugandan woman who failed to explain the criteria she used to buy assets of three defunct banks, was on Friday arrested by Parliamentary Police.

Ms Evelyn Nanyonga, the director of SIL Investments, was arrested on Friday at Parliament in Kampala while appearing before the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (Cosase).

Nanyonga could hardly explain how her company got the rights of liquidating the assets of the commercial banks closed by Bank of Uganda, thus prompting the committee Chairperson Abdu Katuntu to order for her arrest until she produces the required documents.

She told the committee that her company got 500 properties from three defunct banks that included Greenland Bank, Cooperative Bank and International Credit Bank (ICB).

Nanyonga further revealed that sometime back she was tipped off by Charles Nalyali, BoU Director Commercial Banking that there was business at the Central Bank and she decided to go for it. Nalyali also happens to be her husband.

Speaking to the media, Elijah Okupa, Kasilo county Member of Parliament, said the committee summoned Nanyonga so that she could give them the status of the properties that was handed to her.

“She has sold some properties but still has some in possession.

“We are going to inspect all her bank accounts to know whom she has been paying the money, (and) how much money she has paid,” said Okupa.

She was later escorted by Parliament Police to her offices on Bukoto Street to conduct a search.