Sunday , July 14 2024
Home / NEWS / Police SACCO management extends ban on loan acquisition

Police SACCO management extends ban on loan acquisition

Kampala, Uganda | THE INDEPENDENT | The management of police Savings and Credit Cooperation –SACCO has extended the ban on acquisition of loans.

Several police officers said they had tried to get loans or withdraw their savings but in vain. They added that police management led by the SACCO Chairperson Wilson Omoding has extended the ban which ended in March to sort out issues regarding a 3 billion shillings’ debt.

“We cannot access our money because of the 3 billion debt. The management has also said even loans cannot be given out now because it will drain the SACCO. We have been going through hard times during Covid-19 lockdown but we could not get loans or withdraw savings,” one of the police officers said.

In February, reports emerged that police investment arm dubbed Exodus Canteen was demanding 3 billion shillings from police leadership accumulated through the food served to directors, commissioners and other staff serving in various directorates.

Omoding who took over as the new SACCO chairman early this year confirmed that the debt was there but police under secretary had asked for documents explaining how the debt had accumulated to have it cleared.

Omoding instructed the Exodus Canteen manager Dickens Kamugisha to submit a document about the debt in three weeks’ period but in vain. Kamugisha was later arrested and detained at Jinja road police though he was released on bond.

Because of the irregularities in Exodus Canteen and funds in the SACCO, Omoding and the steering committee led by Deputy Inspector General of Police –Maj Gen Muzeyi Sabiiti halted all transactions for two to three months.

“The problem came after Kamugisha disappeared after being released on bond. No one knows where he is and therefore no documents can be presented to the undersecretary to clear the debts. This is why all transactions have again been halted,” another police officer based at Naguru police headquarters said.

Omoding refuted claims of Kamugisha being on the run even though he did not give details regarding the investigations. Omoding had three months ago told URN that there was a lot of mistrust among members and leadership of the police SACCO. This according to Omoding was the reason why officers could flock headquarters to withdraw their savings.

Membership of the SACCO has since grown to 32,000. The SACCO is worth 20 billion shillings and it has had several issues regarding management. There is always chaos when it comes to special days such as Easter, Eid and Christmas as junior officers almost go physical with seniors after failing to access money.



Leave a Reply

Your email address will not be published. Required fields are marked *