HomeCOMMITTEEMPS probe 15b missing from the custodian property collection accounts

MPS probe 15b missing from the custodian property collection accounts

By Jimmy Twist

The COSASE sub-committee on commissions which are chaired by Hon Kassozi Ibrahim has today are investigating about how 15billion shillings went missing from the accounts of the departed Asians property custodian board. 

This comes after the report that was tabled by the committee of custodian board to COSASE subcommittee on 20th January 2006 that shows how shillings 15b that was on collection account in bank of Uganda from the sale of 1524 properties that belonged to departed Indians which left many MPs in shock together with chairperson Ibrahim Kasozi demanded the accountability of the money. 

The General Auditors report dated 31st /12/2021 that queries in Asians property custodian Board indicated that there was some influence and less value of properties as they were put up for sale that led to financial loss to the government. 

The members on the committee questioned the permanent secretary ministry of finance Keith Muhakanizi, former Undersecretary Betty Kasimbazi, and the minister of finance Matia Kasaija about the whereabouts of 15 billion after finding out that the two extra accounts in Stanbic bank were illegal and that the transactions of money collection to the operational accounts was made without the approval of the accounts General.

In their response, Kasimbazi revealed to the committee that she only found 1.1 billion on four accounts and the Finance Minister Kasaija who previously acted as the Board’s accounting officer in the late 90s told the legislators that the Custodian Board had only one operations account and a collections account in the Central Bank since time immemorial while Permanent Secretary Ministry of Finance Keith Muhakanizi revealed that the other two accounts in the commercial banks were complex matters that need a forensic audit.

The MPs further found out that the current custodian board officials deposit proceeds from the sale of properties onto the operations account instead of the collection account in the bank of Uganda.

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