FIA’s Asubo: We have not given up on Bagyenda

The Financial Intelligence Authority (FIA) has said they are still on the tail of Justine Bagyenda, the former executive director Bank of Uganda (Supervision), over allegations of money laundering.

Speaking to the media yesterday, Sydney Asubo, who heads FIA said some of these things take time but the matter will be handled.

“They seem to suggest that FIA is not showing results just two months after we commenced investigations,” FIA boss Sydney Asubo told the media.

“Anyone worth their name would know know that a money laundering investigation cannot be completed in that timeframe.”

Asubo’s comments come amidst mounting pressure from some quarters to have the matter settled.

Yesterday, a youth group, Youth Power Uganda, petitioned the Prime Minister Dr Ruhakana Rugunda over the matter.

In their petition, the group said FIA has “not yet lived to expectations of Ugandans as regard to investigating … Bagyenda for having Shs 19bn on three different accounts which is not in tandem with her salary of six years as a director at the bank.”

The activists said FIA should expedite the investigations into Bagyenda’s case as a “confidence building measure” for investors who intend to commit their money in Uganda.

Among other duties, FIA is mandated to monitor, investigate and prevent money laundering in the country.