IGG: "We are verifying the wealth of top BoU officials"

The Inspectorate of Government has confirmed that it has launched a wealth verification exercise of the properties and assets declared by senior officials at Bank of Uganda.

Speaking to the Nile Post, Munira Ali, the spokesperson of the IG said the exercise is aimed at discovering whether what the officials declared to the IGG tallies with what they earn.

"We are going to verify all their assets which means looking into their properties, bank accounts, loans vis-a-vis the money you earn. We want to know whether their declared assets are commensurate with their income," she told The Nile Post.

She said in case there is a discrepancy between the declared assets and the level of income, the officials shall be summoned to explain the mismatch.

If their answers are not satisfactory, the IG shall begin prosecution proceedings.

The officials whose wealth is being verified are Dr Emmanuel Tumusiime Mutebile, the bank of Uganda Governor, his deputy Dr Louis Kasekende, directors and other senior officials of the central bank. There is also an ongoing investigation of the wealth of Justine Bagyenda, the former executive director Bank of Uganda in charge of Supervision.

Ali said the exercise will take some time since they have to move systematically and ensure that no stone is left unturned.

She said some the fight against corruption had been imperilled by an amendment to the law which saw the scrapping of the requirement for spouses and children of public officials to also declare their wealth.

While scrapping this provision, parliament noted that looking into the assets of spouses and children of public officials constituted invasion of privacy.

As the law exists now, Ali said, it is possible for public officials to hide their wealth in the names of their spouses and relatives thus evading the long arm of the law.

Under the leadership Code, public servants and politicians are required annually to declare their assets to the IGG