Ex Micro Finance Boss Wanted By Police Over Market Billions

Workers MP Sam Lyomoki has also made a statement before the Police
Workers MP Sam Lyomoki has also recorded a statement before the Police. He was the C/Person of the steering committee monitoring the funds

Iggy Rwabukuku, the former executive director Micro finance Support Center-MSC is in trouble over 10 billion shillings extended to vendors through the President Initiative on Market Vendors and Small Business Operations Fund.

Rwabukuku is wanted by police to explain why the number of beneficiaries was allegedly inflated. It follows a report by John Muwanga, the auditor general querying how the money was spent and the number of beneficiaries.

As a result, police launched investigations in which several people including Sam Lyomoki, the workers MP have recorded statements. Lyomoki was the chairperson of the Joint Steering Committee that was supposed to monitor the disbursement of the funds.

Amongst the issues Rwabukuku is needed to explain is the inflation of the number of vendors in Nyahuka people’s market in Bundibugyo from 808 to 10,000 vendors. Shillings 210 million was disbursed in the market. The audit report also shows that Bundibugyo Town Council market has 7,000 vendors as compared to 846 vendors operating there.

Sources in police show that there are 2086 vendors in the entire Bundibugyo district. Police is in possession of a July 8th, 2011 letter signed by Henry Mbaguta, the assistant commissioner in charge of Micro Finance in the finance ministry shows that Nyahuka and Mpanga markets has 5,000 and 1,000 vendors respectively.

Despite the fact that 210 million shillings was disbursed into the account of Nyahuka people’s market, 180 million shillings was withdrawn and given to an official from the Micro finance support center from Kampala.

The vendors were only left with 30 million shillings. The audit report also queries the number of the vendors in Kalitunsi market, which is said to be 5000. Whats more intriguing is that even the 150 million shillings, which was allegedly sent to Kalitunsi market was never received by the vendors.Police is yet to establish why vendors in Nakawa and Park Yard market were allocated money twice. Police suspects that about 60 percent of the 10 billion shillings was stolen.

Enable Notifications    OK No thanks
Close Bitnami banner
Bitnami