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    Pinnacle Security Clients Bitter, Want To Quit Over NSSF Saga



    Pinnacle Security is in chaos after this website broke the story of their failure and refusal to pay NSSF monthly contributions for their employees yet this is a very serious requirement of corporate governance. The September demand letter written by NSSF Chief Compliance auditor Allan Agaba shows that Pinnacle Security Ltd must show proof it has been paying NSSF statutory contributions for auditing covering a period between September 2017 and January 2011.

    As a result Pinnacle Company’s clients are not happy to learn of this scandal and are in long crisis meetings planning to terminate contracts with the company which is none compliant. When we posted the story, two of the companies called us to confirm if the NSSF letter we published wasn’t a forgery and one of them confided in us that they wanted to confirm and see what to do next. Some of the companies Pinnacle serves are international with strong corporate governance practices and they have come under pressure from their own funders and customers asking why they can be in business with such a company that exploits its own workers by cheating on their NSSF benefits. The NGOs are mostly very concerned because their funders abroad don’t accept doing business with such companies that don’t respect labor rights of their employees concerning pension obligations as stipulated in ILO minimum Labor Practices Directions and Guidelines. Some clients are going to write to Pinnacle CEO Moses Baryamujura Matsiko asking for written proof and clearance from NSSF as confirmation that Pinnacle is compliant in respecting its security guards and other workers’ right to pension and other retirement benefits. Pinnacle, owned by Moses Baryamujura Matsiko, offers a range of services eg Alarm & Response, Fire Arms & Equipments, K9 Patrols (Dog Services), CCTV & Access Control, VHF Radios, Fire Fighting, Fire Products & Equipments, Cash In Transit and Ambulance Services.
    The clients and customers-Pinnacle clients include Equity bank which buys guarding, CCTV, Access Control, Alarm systems and Manned Guarding services from them; Premier Villas in Lubowa which buys Guarding services and Alarm services from them; NSSF which buys CCTV, Access Control, Alarm systems and Guarding services from them; Oxygas Uganda Ltd which buys Automatic Fire Detection Services from them; Col John Mugyenyi’s Rhino Investments which buys building Guarding services from them;  Lake View Hotel Mbarara which buys from K9 Services from them; Strogen Ltd which buys Guarding Services from them; Link Soft Uganda Ltd which buys Guarding Services from them; International Lifeline Fund which buys Guarding Services from them and National Housing & Construction Company which buys from Guarding Services and K9 Services from them. Link Soft carries out water sanitation projects and Strogen is a construction company. Of recent, Pinnacle has gone into PR-related work including advertising, events mgt, crisis communication and corporate gifts packaging and delivery. They also do cleaning and fumigation services and on this one, they target government parastatals, hospital, shopping malls, NGOs, government offices, residential areas and private companies.
    He is the graduate of mass communications from MUK and his best friends are Henry Ssali of Matooke Republic and Fortunate Ahimbisibwe who is nowadays in UK for further studies and is ever posting things
    very critical of M7 on facebook. The three friends were at MUK at the beginning of the 2000s. Matsiko was the sharpest of these three guys.
    He got the freelance job in Monitor reporting from MUK. When he left he connected Ssali who went there and became gossip editor after writing in the features section and entertainment for many years. Fortunate was in new vision mostly on education stories about MUK. Matsiko left Monitor when Gen Salim Saleh gave him 500m to start a newspaper called The Spy which failed and Matsiko connected with his close pal Kellen Kayonga who is the sister of Saleh’s wife Jovia. This is how Matsiko went to the US on a scholarship and later got ideas about private security. He was there working with the US Special forces in Iraq and Afghanistan and this is how he got a lot of money and became rich. At first he was working as the consultant for Kellen Kayonga in Askar Security based in Kajjansi and was sitting in Kellen’s building in Makindye because Kajjansi was for training and parades. He parted ways with Kayonga after the two being together and doing things together for many years and that is when he started his company called Pinnacle which used to take guards to Iraq. Matsiko used to accompany Kellen to Serena for evening tea after work in the Makindye office. He was also helping her on media management for Askar at the time powerful ministers like Rukutana Mwesigwa were fighting Askar for the deal to take guards in Iraq. When his friends in the US and the companies they had lost deals, Matsiko concentrated on serving the local market in Uganda and used his connections to get many clients and make a lot of money. He became a party animal and was ever investing in clubs like High Table and others. He was ever using dollars and would change cars like shirts and drove the latest car models. City glamorous babes and slay queens got to know of his generosity and they chewed the money until he became broke and money lenders started looking for him.
    As per now, his Pinnacle still has good clients and good deals though he no longer goes out that much to happen like he was doing before.


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    Stanbic Bank In Trouble, Client Petitions Court After She Was Defrauded Of Shs68m Via Flexi Pay…



    Stanbic Bank CEO Anne Jjuuko whose bank is under fire

    Nakku Joweria a resident of Kyebando has sued Stanbic Bank Uganda limited for failing in its duty of protecting her saving account leading to defrauding her of shillings 68 million which was withdrawn from her account in a period of 24 hours through Flexi pay an application she had never registered for.

    In a court case filed before the Commercial division of the High Court of Uganda and coming up for directions in the registrar Christa Namutebi’s chambers, on the 24th June, 2024 at 9:40am, Nakku Joweria through his lawyers of Kimanje Nsibambi Advocates contends that between 7th and 8th February, 2023, there was unauthorized withdrawal of 68 million shillings from her savings account No. 903000026244 via the Flexi Pay Banking, a platform of Stanbic Bank and a total of 28 unauthorized transactions were conducted by fraudsters who fraudulently accessed her account undetected by the bank.

    She questions how a savings account which had a transaction limit was significantly exceeded during the unauthorized and undetected fraudulent transactions which led to her losing her’ money.

    “Our client has been a loyal client of Stanbic bank since 2001 way before the implementation of the FlexiPay system and at no point did she sign up for or activate the flexi pay on her savings account. The 28 unauthorized withdrawals from our clients account using four unknown Airtel lines raises serious questions and/ or lapses on the part of the bank for which we hold the bank specifically liable for the loss since it was in a better position to detect and prevent this fraud had it exercised reasonable care to detect these suspicious 28 unauthorized transactions that took place within 24 hours on a savings account that was rarely operated by our client,” reads the documents in parts.

    She also questions the effectiveness of the bank’s authentication protocols with their flexi pay system, effectiveness of the transaction monitoring to the extent of allowing 28 unauthorized transactions within 24 hours using four unknown Airtel lines and significantly exceeding the account limit.

    Nakku wants court to direct Stanbic Bank to reimburse 68 million to her account that was fraudulently withdrawn and pay her the costs and damages.

    On 6th February 2023, Nakku Joweria lost her phones to the robbers on her way to work at around 9pm. She reported the incident to police at 9am and to the telecom companies on the 7th February 2023.

    However, the telecom companies MTN and Airtel couldn’t process the new simcards because she had misplaced her original National Identity card.

    The robbers used her MTN number to open up a wallet on the Flexi pay which number had four other Airtel numbers that don’t belong to her which they used to make 28 unauthorized withdraws of 68 million shillings from her Stanbic bank saving account on the 7th and 8th February in a space of only 24 hours.

    When she went to withdraw some money from her account on the 6th, March 2023 that’s when she realized that her money was fraudulently withdrawn from her account.

    She wrote to the bank manager complaining about the matter and the bank promised to do thorough investigations to reveal how the money was withdrawn by the fraudsters.

    Through her lawyers of Kimanje Nsibambi Advocates, she wrote a demand notice to Stanbic Bank manager to reimburse her money since it was their weakness and fault for failure to efficiently protect her account.

    The bank through Twine Arnold, the senior legal advisor, Risk and Dispute Management wrote back with an out of court settlement request.

    However, the bank had proposed to reimburse only 34 million out of the 68 million on the premise that the settlement shall not be taken as admission of liability by any of the parties, a proposal she rejected and instead thought for legal redress in the commercial court.


    By Sengooba Alirabaki


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    Minister Kabanda Panics As Traders Plan To Front Ssekitto To Battle Her For Kampala Central MP Seat…



    KACITA'S Issa Ssekitto and Minister Minsa Kabanda

    Kampala City Traders Association (KACITA) spokesperson Issa Ssekitto has confirmed that come 2026, he is pondering contesting for the position of Kampala Central Division Member of Parliament as an independent.

    Ssekitto revealed that his decision was based on the number of requests he has received from desperate traders who think that the only way to fight bad policies and laws made against them is to have their own in the parliament to argue their case.

    It should be noted that when traders met President Museveni in May 2024 at Kololo independence ground, they warned legislators in parliament who have been passing laws against them that they are going to sponsor their own candidates against them come 2026.

    They claimed that the legislators and other leaders who they showered with votes in the previous elections have betrayed them and it is high time they take over the country’s leadership.

    Sources inside KACITA told theGrapevine that Nagenda Musoke their chairperson also plans to stand for a Member of Parliament in one of the constituents in Mukono district.

    John Kabanda also plans to stand as councilor representing Kampala Central Division on the Lord Mayor’s Council.

    The traders insist that Kampala city and Metropolitan senior minister Hajjat Minsa Kabanda has not helped them as a minister and accuse her of sidelining with their tormentors, especially the Uganda Revenue Authority (URA).

    Since 2023, Minister Kabanda has been conducting clandestine political mobilization to replace Muhammad Nsereko who declared that he is not going to contest in 2026.

    Because of Kabanda’s declaration, Bobi Wine’s elder brother Fred Nyanzi Ssentamu shifted his interest from contesting for Kampala Central MP Seat to Lord Mayor fearing that chances are high that Kabanda will defeat him.

    Traders want parliament to remove EFRIS and reduce taxes on commodities especially imported items.

    However, President Museveni assured them that his government will not accept their prayers because they are against the country’s development.


    By Hadijjah Namagembe


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    Bank Bosses In Trouble For Allowing Sanctioned M7 Gov’t Official To Access Money On Her Account..



    L-R: Agnes Nandutu, Goretti Kitutu and Speaker Anita Among were all recently sanctioned

    The Western powers have kicked off investigation into allegations that bank bosses in Kampala allowed President Yoweri Kaguta Museveni’s sanctioned government officials to access and use their financial services.

    Sources in one of the top banks intimated to theGrapevine that their boss has been summoned at their bank headquarters in the United Kingdom to record a statement detailing how the incident happened and why.

    Sources claim that this senior government official was informed early that President Museveni was briefed about her sanctions and when she asked her lawyers what the sanctions meant, they quickly advised her with immediate effect to rush to the bank and withdraw her money which she did.

    “She came herself and withdrew her money and went with it, but we don’t know whether our bosses were already informed about the sanctions,” a source said.

    This bank source narrated to us a scenario where the former Inspector General of Police Gen. Edward Kale Kayihura’s close relative was denied the opportunity to open a bank account in their bank on grounds that his father was sanctioned and their bank was not allowed to do any financial business with him.

    Recently, the State Minister for Lands Dr. Sam Mayanja revealed that retired High Court Judge Moses Mukiibi told him that because of the sanctions, he could no longer access his money in the banks.

    He added that they asked President Museveni to intervene.

    However, the judiciary last week issued a statement noting that Justice Mukiibi is receiving his retirement benefits as a retired judge.

    Veteran journalist Joseph Tamale Mirundi explained that western powers give a sanctioned official six months to clear whatever they have in their respective countries including repatriating their relatives from their countries.

    But Alex Waiswa Mufumbiro, the National Unity Platform (NUP) deputy spokesperson said that the sanctions take immediate effect and all the money on bank accounts and properties of the sanctioned persons in foreign countries is frozen immediately when the sanctions are announced.

    Mufumbiro’s explanation was supported by a powerful security officer who told theGrapevine that recently, President Museveni posted one of his sanctioned security chief to one of the neighbouring countries; however this officer failed to access his bank account and when he tried to fix his ATM card into the ATM machine, it was swallowed by the machine and he immediately called Museveni pleading with him to withdraw him from the said country.

    Recently, the United Kingdom sanctioned Annet Anita Among the speakers of parliament, Agnes Nandutu the former State Minister for Karamoja affairs and Mary Goretti Kitutu the former senior minister for Karamoja affairs.

    Other government officials who were sanctioned include; Gen. Kayihura, Lt. Gen. Peter Elwelu, Maj. Gen. Abel Kandiho, Maj. Gen. Sabiiti Muzeyi, Maj. Gen. Don Nabasa and a number of others including members of parliament.


    By Sengooba Alirabaki


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