Thousans of youths have taken to the streets to protest and demonstrate against Bank of Uganda’s Justine Bagyenda accusing her of killing the country’s banking sector.


Earlier today, some unknown people dropped  anonymous placards at the Bank of Uganda entrance demanding the resignition or firing of Justine Bagyenda.

Bagyenda is the Director for Supervision in Bank of Uganda. She has been in the news lately for her role in the closure of Crane Bank.


BoU sued former Crane Bank owner, tycoon Sudhir Ruparelia for allegedly siphoning money from the bank.
A court case is ongoing.

However public opinion is that if this is true, then it displays incompetence on the part of top BOU staff including governor Tumusiime Mutebile and more specifically Byagenda.

On the heels of that saga, a source has revealed  the unaccountable wealth valued

in billions accumulated by Byagenda which cannot be compared to her sh32m salary.

Apparently she is linked to properties in the plush suburbs of Naguru and Bukoto plus the upcoming Kungu area worth several billions written in the names of her children.
Last month it was revealed the Inspector General of Government (IGG) was set to probe Bagyenda over possible links to corruption, tax evasion and fraud.

Denis Nyombi ,a lawyer from Denis Nyombi & Co. Advocates had petitioned the office of the IGG asking for investigations into the wealth of Bagyenda over allegations that she evaded paying income tax for ten years on revenues earned from her Naguru apartments, Munira Ali the IGG Spokesperson.


Bagyenda is said have rented her apartments to the top officials of the defunct Crane Bank, earning millions of shillings without paying income tax as required by law.


According to Munira, the first meeting was held between the IGG and the petitioner, Dick Kimeze, to basically understand the ground and the issues raised by the petitioner before investigations into Bagyenda’s alleged tax evasion can begin.

She said the second meeting is scheduled before investigations can begin.


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