TO: PRESIDENT MUSEVENI
FROM: WILLIAM KITUUKA KIWANUKA
DATE: APRIL 10, 2022
RE: WHY THE INTEGRITY AND ABILITY TO CHANGE WHAT IS UNETHICALLY DONE IN BANK OF UGANDA AND COMMERCIAL BANKS IS REQUIRED IN THE PERSON OF THE NEW GOVERNOR OF BANK OF UGANDA.
Your Excellence,
I am a victim of the status quo in Bank of Uganda and Commercial Banks during the regime of Late Governor Bank of Uganda, Professor Emmanuel Tumusiime - Mutebile. Due to the unethical banking practices as endorsed by Bank of Uganda and implemented by both Bank of Uganda and Commercial banks, I have been unable to access a shillings of funds I raised outside Uganda since 2010. This is very painful more so, when the beneficiary of funds did not break any laws of the country or got involved in activities that are subversive hence can endanger Uganda’s security.
I just happen to be a creative person who thought of means of inducing big money to Uganda specifically to help the development efforts of Namutamba Parish in Mityana District where I was most of my childhood days up to University. My intervention, the basis for looking for big money rose after I realized that Namutamba Parish had greatly declined given the growth levels it had reached when Malcolm Lea Wilson was around as the main driver of the economic development the area was enjoying. From 1972 when Lea Wilson left due to insecurity in Uganda, many who were getting employment from the estate eventually lost that employment and job security. As one with the training in Rural Economy, I realized that with funding to initiatives which I saw as new pillars to bail out Namutamba Parish and get it back on the road to development, I had the capacity and ability to induce new development pillars that would bring a new lease of life in Namutamba.
Given the unethical practices that invaded the banking industry in Uganda under the Late Prof. Mutebile, a number of players came up with the strategy, not only did they interfere with my email communication in 2010 and after, but also schemed on how to share the proceeds to my fundraising in 2010. The officers concerned in then Cairo International bank were told to inform me that I had not raised any money which was not correct.
The banking system in Uganda cannot have a future when it is manned in a mafia way. Those remitting funds to Uganda require to deal with banking infrastructure which has integrity, and, given my experience and suffering for 13 years now, I can authoritatively say, “Uganda’s banking system has no ethical standards expected of the institution, and unfortunately, this is no credit to Uganda a country constantly calling for foreign investors and needs investment capital to help growth oriented initiatives”.
WHAT HAS GONE WRONG IN THE UGANDA FUNDS REMITTANCES SYSTEM?
1. Swift codes - I was told that when funds are remitted, before the beneficiary account is credited, commercial banks do a KYC (Know Your Customer), this they do by verifying the source of the funds, the receiver’s true identity and whether the one remitting is not blacklisted. Upon satisfactory search, funds are released. However, Bank of Uganda as the overseer of commercial banks has a right to stop payments in case they are suspicious of the incoming funds, and when they give the directive, commercial banks have to abide, otherwise, the banks can be closed. This is where the problem is. Banks can without the knowledge of the customer decide whether to release funds and, this is where the system is abused. If these bankers see a flow of funds, it is their chance to label the funds anything, and I see myself having fallen victim of this!
2. The unfortunate suspicion that some people who are able to get funding from outside Uganda have ill motives against the country needs to be properly substantiated; otherwise merely assuming will not help the development initiatives of Uganda. This has given those incharge of the system opportunity to easily take funds due to bank customers for personal gains or alternatively abuse it.
3. It is not clear how funds through the Swift codes are audited. There seems to be a big chance of customers not getting the funds due to them given that the audit mechanism does not seem clear or is easily abused. And, we have instances where the client communication is interfered with, this, only leaves the bank with the information.
4. The Government institutions charged with checking corruption have actors who are greatly compromised simply because the corrupt have all the money to part with and their deals are not checked.
5. There looks to be a network which connects commercial banks and the central bank to official Government infrastructure through which funds due to some people are not credited to their accounts but instead paid out to a scheme that needs to be investigated.
6. The Government seems to pay lip service to efforts by Ugandans who are mobilizing resources to see projects off ground. Some of those who get such funds are seen from lenses of some Government officers as if they are not bound to do any good for Government, which is indeed unfortunate.
THERE IS A WEAK INFRASTRUCTURE FOR APPEAL MORE SO THAT THE BANK OF UGANDA SUPERVISORY ROLES WERE INFILTRATED BY STAFF WHO ARE SIMPLY COLLABORATORS IN THE CRIME / FRAUD.
These staff seem to work hand in hand with some staff in commercial banks and they end up drawing funds due to other parties.
THE FRAUD PROCESS INVOLVING BANK OF UGANDA IS REAL AND THERE SEEMS NO PROPER AUDITING OF THE PROCESSES INVOLVING FUNDS FROM OUTSIDE UGANDA AND THE BENEFICIARIES WHO GET PAID.
MY EXPERIENCE AS A COMMERCIAL BANKER.
During the time when I worked as a Commercial bank staff in Uganda, funds remittances were mostly by Telex. It was incumbent upon the bank that received the Telex message for the transfer of funds to inform the beneficiary of the funds. Today, the robberies of remitted funds are a big success when some people succeed in cutting off the communication between the one who remitted funds and the rightful beneficiary. It is not clear whether some staff of Uganda Communication Commission (UCC) have no role in this ‘game’. So, many times the rightful would-be beneficiary is not armed with evidence that funds for the credit of his / her account were sent, the basis he / she would be armed with to claim the money. So the monies are stolen through that racket.
THE OPPORTUNITY OF A NEW BANK OF UGANDA GOVERNOR COULD HELP CHANGE THE MISCHIEF IN BANK OF UGANDA AND COMMERCIAL BANKS.
If you appoint an upright person as Governor Bank of Uganda capable of introducing changes within Bank of Uganda and Commercial banks that will enhance promotion of transparency and morality in the banking sector you will give a new lease of life in the banking system in Uganda which has gone to the dogs.
Since 2010, I have not managed to get a single coin of the funds I have raised from outside Uganda. This does not help Uganda at all. With funds I raised which have been stolen I can give a rough picture of where Namutamba Parish would be if I had accessed the money.
WHERE NAMUTAMBA PARISH WOULD BE NOW IF I HAD ACCESSED THE MONEY.
If only some people had not shared the monies I received in my fundraising appeals for President in 2010 and 2015, Namutamba Parish where I grew up would be a Centre of Excellence.
1. Namutamba Demonstration School would already be back to one of the leading schools in Uganda.
2. Namutamba would be popular for growing Organic food.
3. Namutamba would be getting local and foreign tourists in hundreds every week.
4. Namutamba cattle farmers would slowly be changing from having large herds to small zero grazing cattle with high returns.
5. Namutamba would be having tarmac roads linking many places.
6. Namutamba motorists would be having a reliable fuel station in the area.
7. Residents of Namutamba and its hinterland would no longer have to go to Mityana for their shopping, they would get 95% of their needs in Namutamba.
8. There would be extension agents virtually in all villages of Namutamba and organized marketing channels of the agricultural produce.
9. Namutamba Parish would boost of a Healthy Centre IV and expanding with services including: Ambulances; Surgery; Maternity; Eye-care; Dental and Primary Healthcare Services to mention some.
10. There would be at least one Demonstration Farm in each of the village of Namutamba Parish.
11. We would have a sports playground with prospects of being very competitive in Uganda.
12. We would try as much as possible to get people to work and change their wasted time in unproductive politics of parties to income generation.
13. We would by now be supporting Religious Organizations in their roles to promote morality which is the greatest problem of Uganda.
14. We would be sponsoring youth to train in vocational skills where such training is available and these would come back to Namutamba to boost the local economic development.
You cannot believe, this plan has not taken off. It is now 12 years.
With the funds, it is possible to turn Namutamba Parish into the Mecca of Uganda.
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