• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Asians custodian board on spot as billions go missing from account

Mubiru Ivan by Mubiru Ivan
5 years ago
in National, News
3 0
ShareTweetSendShare

Members of Parliament on the Select Sub Committee of Commissions, Statutory  Authorities and State Enterprises (Cosase) are carrying out an investigation into the Shs15 billion proceeds from the the sale of properties, which has reportedly gone missing from the accounts of the Departed Asians Property Custodian Board.

The legislators were on Wednesday meeting the finance minister Matia Kasaija who led a team of officials including the Permanent Secretary Keith Muhakanizi to respond to several anomalies regarding the bank accounts. Also present were current Custodian board members including the Executive Secretary George William Bizibu.

Kasaija is the current chairperson of the Board of Directors for the Custodian Board.

The sub-committee chaired by Makindye East MP Ibrahim Kasozi is investigating among other issues fraudulent acquisition of properties facilitated by government officials. The MPs are also investigating the total amount of proceeds received from the sale and rent of the properties held by the board.

A key witness in the hearing was finance ministry undersecretary Betty Kasimbazi who took over supervision of the Custodian Board in 2007.

Kasozi told Kasimbazi that the Divestiture committee of the custodian board was relieved of its duties in January 2006 with its final report showing a balance of Shs15.3 billion from the sale of properties by December 2007.

Kasimbazi however disputed this figure noting that when she took over in 2007 she only inherited a total of Shs1.1 Billion on four different bank accounts.

MPs were curious as to why two of these collection bank accounts were held in Stanbic Bank a commercial bank despite the Board’s collection accounts being previously in the Bank of Uganda. Kasaija had told the committee that when he previously acted as a supervising officer in the late 90s the body had only one operational account and a collections account in the Central Bank.

Despite Muhakanizi pointing out that all accounts in commercial banks had been closed in 2103, Kasimbazi could not explain how the Stanbic Bank accounts had materialized or who had opened them.

Kasozi demanded accountability for the missing 15 billion shillings noting that the Custodian Board’s accounts do not show any compensations that could have depleted the accounts.

 


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
Share1Tweet1SendShare

Related Posts

RDC George Owanyi engaging the meeting
News

Nakapiripirit RDC George Owanyi teams up with Karamoja Anti-Corruption Coalition to intensify fight against corruption 

30th June 2025 at 09:21
Op-Ed

RICHARD BYAMUKAMA: The Legitimacy of South Sudan’s Government Hangs in the Balance

29th June 2025 at 23:59
News

President Museveni salutes First Lady for her contribution to Uganda as she celebrates 77th birthday 

29th June 2025 at 21:56
Next Post
Attorney General William Byaruhanga (R) engaging MPs after a session

MPs irked by EC announcement of separate Presidential and Parliamentary election dates

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1098 shares
    Share 439 Tweet 275
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2282 shares
    Share 913 Tweet 571
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    38 shares
    Share 15 Tweet 10
  • Pastor Bugingo Seeks Reconciliation with Teddy and Children, Prays for Makula’s Twins

    18 shares
    Share 7 Tweet 5
  • LIST : Gov’t releases Revised Salary Structure for Teachers, Police, and Prisons Staff for FY 2024/2025

    111 shares
    Share 44 Tweet 28
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

RDC George Owanyi engaging the meeting

Nakapiripirit RDC George Owanyi teams up with Karamoja Anti-Corruption Coalition to intensify fight against corruption 

30th June 2025 at 09:21

RICHARD BYAMUKAMA: The Legitimacy of South Sudan’s Government Hangs in the Balance

29th June 2025 at 23:59

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is set to speak at business forum in United Kingdom

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0
RDC George Owanyi engaging the meeting

Nakapiripirit RDC George Owanyi teams up with Karamoja Anti-Corruption Coalition to intensify fight against corruption 

30th June 2025 at 09:21

RICHARD BYAMUKAMA: The Legitimacy of South Sudan’s Government Hangs in the Balance

29th June 2025 at 23:59

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda