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    Stinking Rich – Ministry Of Finance Top Technocrat’s Riches Shock Museveni



    By Grapevine Snoops

    As doctors and prosecutors continue to be disgruntled over poor pay, there are some Ministry officials who are counting money in kilos and smiling all the way to the bank. One of them is an ageing and very influential technocrat in the ministry of finance has been exposed to be the richest civil servant of all those serving in Kaguta M7’s government.

    This latest revelation by the Grapevine sources only serves to confirm long held suspicion that this stone-faced technocrat (names withheld) is the richest civil servant in modern Uganda.We shall not expose the technocrat’s name at this point in time but will reveal that the technocrat is very shrewd and runs most of his businesses through his proxy by the names of Wyclif Mur. The technocrat runs many juicy businesses mostly in real estate within Kampala and its surrounding towns.  The technocrat, who sources tell Grapevine is serving his last term, also has a big commercial farm in Lyantonde. The same technocrat owns very big real estate properties in Kampala’s posh suburbs of Mutungo, Bugoloobi and Mbuya.
    The stinking rich technocrat also has apartments which are rented by rich expatriates who work in Uganda. The technocrat’s real estate business operates under a company called ‘Reunion estates’ which he owns and runs through his proxy front in the names of Wyclif Mur. When a top boss in bank of Uganda learnt about the technocrat’s multi-billion Reunion estates Company recently, he wept in envy wondering how the elderly technocrat accumulated all this wealth in the not so many years of service at the ministry of finance. The technocrat’s real estate business is very vast and is valued in billions. “With that multi-million dollar business there is no way that technocrat will see poverty in his life time; not even his children will ever know poverty. Not even his great grand children” said the envious source based in bank of Uganda. The same BoU source added that: “That technocrat officially says he is a poor civil servant earning peanuts but supplements his income with proceedings from farming; which is not true. The real source of his income is his job which makes him control trillions.”
    Grapevine sources further show that Mr. Technocrat also owns big properties in Kololo which are the two plots next to Housing Finance Bank. He also has a big plot of land next to Kololo Courts. He has another 1acre of land in Kololo and it’s valued at USD5m. Under the same company Reunion estates-the technocrat has been putting up nice apartments on part of his Kololo land still working through his proxy Wyclif Mur. The planned apartments’ project is worth USD10m (more than 30bn). Wyclif Mur has been fighting to get a soft loan 12bn from a top regional bank where the powerful Ministry of Finance technocrat serves
    as a BOD member and is very defensive of the CEO for that same bank.
    Sources tell Grapevine that the technocrat can’t fail to defend the CEO because the CEO is the one approving the loan as applied for by Wyclif Mur. The soft loan was prepared to be given to the technocrat’s proxy at zero interest with very long repayment period. These favorable loan terms are aimed at ensuring the technocrat’s Kololo apartment is profitable and the loan is repaid without hassle as long as the CEO at the regional bank remains unchanged. Angry managers at the regional bank see this loan as a tool the CEO can use to compromise this technocrat and other BOD members who are supposed to supervise the CEO. There are fears at the bank that Wycliffe’s loan application wasn’t properly assessed. The stinking rich technocrat is very sure his Kololo apartments can’t fail to get tenants because of the many contacts he has in the expatriate community. The regional bank’s CEO showed bias when he/she was very hard on the regional bank assessment teams whose members refused to disburse the money for the technocrat’s Kololo apartments because Wycliffe failed to mobilize the initial funding preceding the release of the regional bank’s funds because the bank’s policy demands that the potential borrower exhibits commitment by commencing on the project before the borrowed funds are disbursed. The technocrat’s proxy Wycliffe was cleared by the CEO to receive the USD4m (more than 10bn) from the regional bank without showing he had the required fraction of the money which the regional bank can only top up. The same technocrat’s riches were recently reported to M7 the President who remains shocked up to this day at how much people in his government have accumulated.


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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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