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Revealed - Government Secretly Pays Shs46 Billion to Basajjabalaba.
Byline: John Njoroge
Government has secretly been paying businessman Hassan Basajjabalaba part of Shs46 billion he claims in compensation for city markets that were leased to his company and then taken back.
The money, much higher than what the businessman spent on premium fees for the leases, has not been independently verified, and has been done without the knowledge of some concerned government agencies, including the Central Bank.
A Daily Monitor investigation uncovered details of the payments after reporting last week that the businessman had missed a six-month deadline to pay back $11.5 million he owes Bank of Uganda in interest-free guarantees to two local commercial banks.
Central Bank officials confirmed to this newspaper last week that Basajjabalaba had not paid back the money despite agreeing …
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