SACCO Officials Disappear with Member’s UGX 278 M Savings

Busia Cooperative SocietyBusia police are investigating the management of Busia Cooperative Society– BCS over the theft of member’s deposits worth 278 million shillings. Busia Cooperative Society was started by over 200 members of Busia Fisheries Association. The police investigations stem from complaints by the members about the disappearance of their savings.

Those being investigated are John Mayonga, the chairperson Busia Cooperative Society, Wilfred Wandera, the accountant and cashier Olive Nyangoma. Hassan Ssekite, one of the depositors claims that Wandera disappeared with 64 million shillings, Nyangoma 14 million shillings and the remaining 100 million shillings went missing in the hands Mayonga. According to Ssekite, the 100 million shillings that went missing in the hands of the chairperson was collected from an ice plant owned by BCS members over the last one year.

Ssekite says there have been constant complaints as to why the members have not been receiving loans from Busia Cooperative Society without any proper explanation for the last two months. Herbert Bwiire, the manager Busia Cooperative Society says the executive management committee has been sacked and replaced by a new team led by Hassan Ssekite.

Hussein Kato Matanda, the Busia Resident District Commissioner has ordered police to start hunting down the suspects who are on the run. Barbra Alungat, the Busia District police commander says police has already interrogated several people including the BCS manager in connection with the scam. She says the investigations will narrow down specifically on the management and those implicated in the misappropriation of member’s deposits.

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