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Bugisu Cooperative Union internal auditor accused of alleged misappropriation of UGX 1.2 Bn

Kampala, Uganda | THE INDEPENDENT | Anthony Mwenyi, the Bugisu Cooperative Union-BCU internal auditor is on the run over misappropriation of 1.2 billion shillings.

Mwenyi is alleged to have forged names of primary society farmers who were supposed to be paid 2.4 billion shillings. He inflated the amount to 3.6 billion shillings.

He reportedly connived with some other officials in the company to forward lists of ghost farmers which caused financial loss to the cooperative.

According to John Musila, the vice-chairperson of BCU, last month Mwenyi was asked by board members to present a list of primary society farmers to process their arrears for December last year to April this year but the arrears seemed exorbitant than what board members expected.

He says this prompted Nathan Nandala Mafabi the chairperson of BCU who is also an auditor to re-compute and audit. According to Mafabi’s audit report, the actual amount that was supposed to have been paid was 2.4 billion shillings.

Isaiah Ssasanga Wanzila the director of Sironko valley zone and member of the board suspects that Mwenyi and other officials have misappropriated more money in previous payments.

However, the manager BCU Vincent Buyi dismissed claims that the auditor misappropriated funds. He explains that internal auditors do not pay out cash neither do they compile pay lists as alleged.

He said that as the manager he is not aware of ghost farmers or kilograms of coffee lost at primary societies.

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One comment

  1. Kenneth Woniala

    This is confusion on the side of the chairperson to start auditing and giving audit reports. As a professnal auditor he should understand the importance of external auditors in such scenarios.

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