UGANDA: NRM thug Justine Bagyenda should explain the source of her wealth
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KAMPALA (@UG_EDGE) – Embattled former director of Bank’s supervision at the central bank, Justine Bagyenda continues to be scorched by her contemptible actions and an array of execrable consequences.
The results of her misconduct while at the institution have resulted into the sacking of bank staff at Diamond Trust bank for allegedly disclosing her bank statements as several dailies have reported.
Whereas bank staff may be victimized for letting the world know of the possible irregularities in our systems (banks especially), the country ought to continue to probe a lot more than the figures that the financial statements carry!
A no novice to suspicious deals, the nettling details of how she outrageously accumulated wealth continue come out one at a time with a Uganda revenue authority report recently revealing that she is an ordained tax evader.Tax evasion is the deliberate refusal by an individual or organization to pay taxes and it is illegal.
“The person has significant amount of fixed deposits in both Uganda shillings and Dollars of which the source of income is not just salary.I suspect this is undeclared income accumulated by the person over the years,” Part of the URA report reads.
The report also hints the fact that Justine Bagyenda owns a chain of rental properties with a possibility that rental income was not declared to the tax body.
The report concludes by noting that shillings 7,123.496,383 was not paid to URA by the same, Justine Bagyenda whose TIN number is 1000589799.
For someone to have evaded paying of such amount of tax revenue, means that certain activities in education, health, infrastructure among others were not executed or fell short by a certain percentage-work was not completed!
Whereas I’m not opposed to being rich and accumulating wealth, what a person accumulates overtime should be explainable and evidenced by the deliberate actions a person did to get what they have.
This is why the journey to getting rich by a mogul like Sudhir Ruparelia can be well explained by how he started up to owning fancy properties in town.
Justine Bagyenda’s case is a great contradiction!
In less than 10 years, she accumulated about 20 billion Uganda shillings and single handedly or jointly owned properties with her family members.
These reportedly include: Land comprised in LRV 2897 Folio 11 Plot N0. 21 at Museveni Road in Ntungamo district, LRV 2897 Folio 12 Plot 19 land at Museveni Road in Ntungamo district, LRV KCCA 86 Folio 22, Plot No. 1-7:53 land at Bugolobi Nakawa, LRV 3553 Folio 23 Plot No.43 Land at Peninsular Road, Kampala Central Division and LRV KCCA 89 Folio 24 Plot No.50 Land at Kampala Central Division.
Other properties include FVR 629 Folio 11 Plot 5 land at Sunderland
Avenue, LRV 2631 Folio 10 Plot No.28 land at Kimera Close, LRV 3255 Folio 10 Plot No.410-411 Land at Makerere Hill Road, Kampala, LRV 2139 Folio 8
No. 20 Land at Balikuddembe Road, Kampala, LRV 2139 Folio 8 Plot 20
Balikuddembe Road, LRV 325 Folio 10 Plot No. 41-411 Block 82 Land at Bugolobi, LRV 2631 Folio 10 Plot No. 28 St. Kizito Close, Bugolobi, LRV 629
Folio 11 Plot No. 5A Block 82 Bugolobi, Block 20 Plot no. 629 Kiwatule,
Nakawa Division, Block 20, Plot No.629 land at Busega, Rubaga Division, Block 252, Plot No. 105A land at Nakawa Division, Block 200 and Plot No.1548 Land at Munyonyo Makindye Division.
This is a great contradiction to most economic theories that I have come across.
Capitalist Karl Max argued that it takes a long time for the rich to get rich-arguably after some time by involving themselves in productive activities.
For instance, a person at 20 years can only be rich after 20 years of working and accumulating wealth for one gains profit excess of factors of production of labor, land, capital among others thus consolidating profit
to accumulate wealth worth Justine Bagyenda’s can’t be explained by seven years in which she did!
For the public to get convinced,Bagyenda should explain her journey to healthy bank accounts and properties that were not inherited.
The IGG and URA have availed us this opportunity.We should wait with abated breath.
Kagenyi Lukka is acurrent affairs analyst and an aspiring MP Ikiiki Constituency in Budaka.
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