In his usual tactics of diversion, despot Museveni has always kept members of the public at bay on what happens in the banking industry. The reality is, Museveni defaulted many commercial banks in Uganda to finance own businesses, many function at limited capacity.

Majority shares in the financial struggling Stanbic Bank ltd. belong to ghosts’ accounts that cash royalties and other services to Museveni. For some time now the Bank which struggle to stay afloat has been using escrow accounts to transact businesses and other financial services.

Amidst overwhelming customer complaints relating to unwarranted charges, deductions, failure to disburse huge sums of money and staff incompetence, sources at Stanbic Bank talked how the bank used to be run by a parental organization in South Africa.

For those who do not understand the meaning of an ‘escrow account’, it is when the holder of an account engages in businesses as a buyer and a seller at the same time. Meaning criminal despot Museveni can buy property, assets and or equities which belong to him using his cronies but at the expense of government expenditures.

Businesses like Roofings ltd, Speke Resort, J&M Hotel and others belong to Museveni whose operations are financed by banks like ADB in Kampala under his direct orders. The same bank cries problems of liquidity and coveted operations spearheaded by cronies working for criminal despot Museveni.

Nakasero State-House insiders remember how despot Museveni stole money from ADB Bank and the Central Bank claiming to finance the construction of Garden City Shopping Complex. Business managers and auditors were later shocked when they realized that money that constructed the shopping Mall had two sources of the same amount.

Museveni ordered Bank of Uganda to withhold dividends of shareholders citing lack of financial securities, minority shareholders are heavily indebted. In sheer greed with no shame, corrupt despot Museveni in 2022 instructed Bank of Uganda to withhold annual dividends of banks shareholders for the second consecutive year.

Knowing the banks were empty and would not disburse dividends, all commercial banks were directed by despot corrupt Museveni not to disburse a whooping amount of $4.5 billion worth of dividend payouts to beneficiaries leaving them to cope with unbearable loans and other financial hardships.

In criminal Museveni’s Cassava Republic, your money can disappear in thin air, robbed by cronies of the junta and you will have no way to claim it. Despot Museveni has emptied banks for own benefits and milked Ugandans to the bone marrow.