DTB Regrets Bagyenda Bank Accounts Leak

Diamond Trust Bank (DTB) has admitted the widely publicized bank accounts of outgoing Bank of Uganda Executive Director in charge of Supervision were indeed genuine, Chimp Corps report.

“On March 1, 2018, it came to management’s attention that anonymous online publications were publishing articles about Ms. Justine Bagyenda’s accounts/ deposit details with various banks including DTB Uganda Limited,” the statement reads in part.

“Management carried out an extensive investigation and established that one of the staff was compromised to access Ms Bagyenda’s account in the bank’s system,” the Bank added.

The DTB statement confirms Bagyenda held unexplained billions of shillings at the Bank.

One of the recent fixed deposits on her account at DTB) was $214,149 on December 29, 2017.

Earlier on September 7, 2017, Bagyenda made a fixed deposit of Shs 179m and expects to earn a net interest of Shs 7.5m on maturity in March 2018.

She had on December 29, 2016, made another fixed deposit of $1776, 717 which matured in December 2017.

On December 28, 2014, the transactions which leaked from private auditors indicate, Bagyenda did not make any fixed deposit – but she had a balance of $238, 563 on her Diamond Trust Bank account.

For every deposit, Bagyenda received a certificate of deposit showing the interest the principal amount would attract, taxes incurred and net amount payable to her on maturity.

In March 2014, Bagyenda had made a fixed deposit of Shs900,029,548 which earned her a net interest of Shs 9,187, 424.

In November 2014, Bagyenda had another fixed deposit of Shs568m which saw her realise a net interest of Shs 5.7m.

In January 2015, Bagyenda made another deposit of Shs 480,000,000, setting a maturity date of one month. She earned Shs 4.8m in interest.

Bagyenda’s source of these staggering amounts of money remains unclear.

For about a decade, she has been earning a monthly gross salary of Shs 35m.

With an estimated take home of about Shs 400m per year for 10 years, Bagyenda could have only raised Shs 3.6bn.

But bank records show her accounts transacted about Shs 20bn in a space of six years.

Officials said the revelation could see authorities open investigations into Bagyenda’s source of wealth.

Leak

DTB said in a statement that “Confidential details relating to the accounts were leaked to outsiders and apparently used to create grossly distorted allegations about Ms Bagyenda’s alleged account balances.”

DTB didn’t show how the reporting allegedly distorted her bank account transactions.

Bagyenda also ran several accounts including what DTB calls a ‘Prime Dollar Savings Account’ reserved for wealthy businessmen.

Bagyenda credited this account with $45,000 between May 2014 and December, 2014. She further made another cash deposit of $20,000 in August 2014.

In January 2015, $40,000 was credited on the same account.

At the same bank (DTB), Bagyenda runs a shilling account number 5106903903 which by close of last December, had a staggering Shs11.4 bn.

The bank has since “unreservedly” apologised to Bagyenda for “inconvenience and embarrassment this regrettable incident has caused to her.”

DTB also initiated what it describes as “necessary disciplinary proceedings” against those who leaked the details and would soon “make a formal criminal complaint.”

Bagyenda was recently removed from her job by BoU Governor Emmanuel Tumusiime-Mutebile and replaced with Uganda Communications Commission (UCC) top official, Twinemanzi Tumubweine.

 

Source: CHIMPREPORTS