Trial Resumes for Former Post Bank Officials Accused of Financial Misconduct

Post Bank Uganda
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The trial of former Post Bank Uganda Limited staff members, accused of abuse of office and causing financial loss amounting to UGX 292 million, is set to resume today at the Nakasero-based Anti-Corruption Court. The accused include former managing director Stephen Mukhweli, executive director of credit and business growth Alex Kayaayo, head of business growth Fred Samuel Wasike, sales manager Gilbert Nuwamanya, general manager of finance and administration Jackson Mwesigwa, and commissioner Jude Muhereza Kacoobye.

The prosecution alleges that, on June 15, 2016, Mukhweli, while serving as the managing director at Post Bank in Kampala district, irregularly approved the payment of sh292 million to Muhereza. Similarly, on June 14, 2016, Kayaayo, as the executive director of credit and business growth, is accused of irregularly forwarding the payment of sh292 million to Muhereza as a commission under the Social Assistance Grant Empowerment (SAGE) program.

The SAGE program, designed to benefit senior citizens aged 65 and above, aimed to provide access to basic services and support income-generating activities. The prosecution argues that the accused were not entitled to the payment in question.

The legal implications for the accused individuals include imprisonment of up to seven years, a fine not exceeding sh1.3 million, or both for the offence of abuse of office under Section 11(1) of the Anti-Corruption Court Act. Additionally, causing financial loss, as per Section 20(1) of the Anti-Corruption Court Act, could result in a fine not exceeding sh4.8 million, imprisonment of up to 14 years, or both. Conspiracy to defraud, as outlined in Section 309 of the Penal Code Act, carries a potential sentence of five years imprisonment upon conviction.

The accused individuals have denied the charges, and the court proceedings are expected to shed light on the alleged financial irregularities within Post Bank during the mentioned period.

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