Your money is safe - BoU assures public on Post Bank saga - National | NTV

Your money is safe - BoU assures public on Post Bank saga


Tuesday May 14, 2019
Your money is safe - BoU assures public on Post Bank saga


Post Bank has appointed a new management team, following the arrest and indictment of its top managers in connection with abuse of office, causing financial loss and conspiracy to defraud the bank.

After State House anti-corruption unit forced some managers out, the bank on Tuesday appointed Edwin Keronga as the acting Managing Director and Mr Benon Rukundo as the acting Executive Director.

“Following the investigations into some members of staff of Post Bank (U) Limited by the directorate of criminal investigations and crime intelligence department and office of the Auditor General, and their subsequent arraignment in court, Post Bank has effected some changes to its senior management,” a bank statement issued by Bank of Uganda Governor Emmanuel Tumusiime-Mutebile, reads in part.

“An interim team of senior managers headed by Mr Keronga and Mr Rukundo, and supported by a number of acting heads of department were appointed to run the affairs of the bank.”

Mr Mutebile has however assured Post Bank clients that the bank remains sound and that customers should not be scared of their deposits.

“The Bank of Uganda assures Post Bank customers and the general public that Post Bank is safe, strong and resilient and all of it services are continuing uninterrupted.”
The former bank senior managers were charged last week after officials from State House anti-corruption unit, the CID and the Auditor General on April 5 quizzed the bank’s top officials for hours.

The affected executives include; Mr Stephen Mukweli, the managing director, Ms Safina Wabuna, the executive director for Information and Communication Technology (ICT), Mr David Mwesige, the head of Information Technology, Mr Augustine Kisitu, the head of Business Technology and Mr Emmanuel Mwaka, the finance manager.

Others are; Alex Kayaayo (Executive Director for Credit and Business Growth), Fred Samuel Wasike (Head of Business Growth) and Gilbert Nuwamanya (Sales Manager).

In the first case file, Mr Mukweli, Kayaayo, Wasike, Nuwamanya and Mwesigwa were charged with abuse of office and causing financial loss of Shs292m.
In another file, the state contends that in April 2017, Mukweli and Wabuna irregularly altered the sum of contracts for conducting ICT test from Shs20.2m to Shs37m contrary to procurement procedures.

It is further stated that their action resulted into overpayment of Shs16.75m to Aptech Computer Education knowing or having reason to believe that the acts would cause financial loss to Post Bank.

It is also alleged that on October 16, 2017 in Kampala, Mr Mukweli abused his authority by arbitrarily signing a contract for supply of e-suit banking system to Compulynx Uganda Limited for more than Shs5.7 billion instead of Shs4.2 billion that had been approved by the contracts Committee.