MUBS IN CASH CHAOS! Prof.Muhwezi Under Fire As Billions Go Astray, Land Grabbed & Systems Collapse
Shock, disbelief and simmering anger have engulfed Makerere University Business School after the Auditor General’s December 2025 report laid bare a trail of financial indiscipline, weak systems and glaring administrative failures under the watch of Principal Professor Moses Muhwezi.
Muhwezi, a public procurement specialist appointed in November 2024 to steer the institution for the next five years, after silently igniting a bloodless coup that culminated into the unceremonious exit of eternity principal Prof. Wasswa Balunywa, now finds himself at the center of a storm as the report paints a picture of an institution struggling to keep its house in order despite earning an “unqualified” audit opinion under Human Capital Development.
Behind that clean audit tag lies a catalogue of alarming irregularities that have left insiders whispering about “system failure at the top.” In one of the most eyebrow-raising revelations, a staggering UGX 4.454 billion was casually drawn from the 2024/2025 year’s budget to clear domestic arrears that had not even been planned for, raising serious questions about budgeting discipline and financial foresight.
But the real bombshell comes in the handling of statutory deductions. The report exposes how PAYE deductions worth UGX 1.133 billion and NSSF contributions amounting to UGX 2.208 billion were diverted to bankroll unauthorized salary enhancements without any corresponding wage budget.
In simple terms, money meant for statutory obligations was rerouted to inflate salaries, a move that insiders say could have far-reaching implications.
As if that was not enough, the school is operating without an approved comprehensive research and grants policy, leaving a critical academic pillar hanging in uncertainty. At the same time, procurement processes appear to be limping, with five procurements worth UGX 2.248 billion attracting a suspiciously low bidder turnout, a red flag in any accountability framework.
The cracks widen further in contract management. Out of 69 sampled contracts worth UGX 7.5 billion awarded during the year, the university shockingly had no contract register to track progress. This means billions of shillings worth of projects were effectively flying blind, with no structured system to monitor implementation.
In the academic arena, the numbers are just as troubling. Of the PhD students who enrolled in the 2018/2019 academic year, only seven had completed their programs by 2022/23, translating to a dismal 18 percent completion rate. For a top business school, the figure has raised serious concerns about supervision, support systems and overall academic efficiency.
Even the institution’s own strategic roadmap appears to be gathering dust. The report reveals that only four out of the planned seven strategic objectives were achieved, representing a modest 57 percent performance, far below expectations for a premier institution entrusted with shaping Uganda’s business leaders.
Financial management continues to raise eyebrows, with supplementary expenditure amounting to UGX 14.84 billion failing to meet the criteria for foreseeable expenditure. In essence, funds were injected into areas that did not qualify for such adjustments, further exposing cracks in planning and oversight.
Perhaps the most shocking revelation is the complete absence of an approved asset management policy, leaving valuable school property exposed. And exposed it is. Prime land at Kireeka Hill View Road measuring 2.24 acres and valued at UGX 2.01 billion has been fully encroached on and developed by squatters, a situation that insiders describe as “a silent takeover happening in broad daylight.”
On the revenue front, the numbers tell another grim story. Out of a Non-Tax Revenue (NTR) target of UGX 70.92 billion, only UGX 55.52 billion was realized, leaving a gaping shortfall of UGX 15.395 billion, equivalent to 22 percent. The deficit raises fresh questions about revenue collection strategies and financial sustainability.
As the audit dust settles, pressure is mounting on Muhwezi and his team to explain how an institution of such stature could sink into what many are now calling a governance and accountability crisis. With billions unaccounted for in planning, systems missing, land grabbed and performance lagging, all eyes are now on the leadership to clean up the mess before the situation spirals further out of control.
MUBS has been contacted for a comment.
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