BoU officials summoned over Asian properties

A sub committee of the Commissions Statutory Authorities and State Enterprises (COSASE) has summoned officials from Bank of Uganda to brief MPs on the remaining number of Asian properties in the bank's archives after it emerged that 4,000 properties could have ended up in the wrong hands.

The officials are expected to appear today to explain how these properties which were compensated by the state ended up in the hands of individuals and private companies including senior government officials.

Titles to some of these properties were reportedly kept at the central bank but how they ended up in the hands of some individuals remains a mystery.

In 1983, the Departed Asian Property Custodians Board (DAPCB) was put in charge of between 9,000-10,000 properties of Asians who fled Uganda during President Idi Amin's era.

While appearing before the MPs, William Bizibu, the executive director of DAPCB said that Uganda has lost over Shs. 1.8 trillions to people who have fraudulently repossessed these assets.

Among the top government officials being investigated include Attorney General William Byaruhanga, who the MPs want to explain how already compensated properties landed in hands of individuals, Lands Minister Betty Amongi for allegedly trying to sale property along Lugogo by-pass; Maj Gen (Rtd) Kasirye Gwanga and the secretary to the judiciary,  Pius Bigirimana for allegedly securing ownership of properties.

As of 2009,  Bizibu said 1,676 Asian properties had been sold, repossessed or compensated while 3,226 remain unsold and unclaimed.