By staff writer

CMA staff drags Angella Kiryabwire to IGG

Capital Markets Authority – CMA staff have dragged their Director Legal Affairs and compliance, Angella Kiryabwire to the Inspector General of Government (IGG) accusing her of being involved in corrupt tendencies.

“I write to you in accordance with section 2 of the whistle blowers protections Act for the purpose of disclosing information that shows and proves that the above mentioned Civil servant employed by the CMA as the Director Legal Affairs and Compliance has for several years solicited for bribes, engaged herself in influence peddling and is on retainer by market players,” the letters in part.

According to the letter dated May 9, the author accuses Kiryabwire of throwing her ethical standards out of the window.

“In 2017 I was asked to do a diligence on several licensees of the Authority to establish whether they were in compliance with the laws and licenses issued to them. When I visited the two stock Brokers to execute CMA mandate, I established that they were in the utter violation of the laws and the licenses, I recommended disciplinary action and sanction of the firms.”
The Author of the letter says that when she went back to the Brokers to see the progress and follow up, the Managing Directors told me how i was Poking my nose in things that don’t concern me. I was told by one of the directors to “spend more time on keeping my job rather than dashing it away”; he told me that my bosses were all in the know of events.
The petitioner says that when she reported to Angella Kiryabwire what had happened to her, hoping for solace and giving me confidence she rather advised me to leave issues of Directors to Directors.

According to the letter addressed to Lady Justice Irene Mulyagonja, the petitioner claims she was called by a lady called Jenifer in the accounts of one of the brokerage firm asking whether Ms. Kiryabwire was in office because she wanted to drop her cheque.
“I told her to leave the cheque I would deliver it to her, we met up on the ground floor (I believe we can retrieve the video footages) and took the cheques and photocopied it and returned it to her then I told her Ms. Kiryabwire was away. Since then she has told me that our Director Legal Affairs (Ms. Angella Kiryabwire Kanyima) is given a retainer of Shs5.5million every months and this money is disbursed from the brokerage firm as facilitation.”

The petitioner says that in 2017, I had worked on a file where a private limited company was selling shares to the public without the prospectus registered from CMA.

“I have investigated the matter and advised that the premises be condoned off searched and evidence obtained. To my shock Ms. Kiryabwire was harsh on me and withdrew the file from me and allocated it to another person, when I interviewed a director of the Company they asked why I was witch hunting them yet we took their money. During the interview she kept on asking me if I had obtained Ms. Kiryabwire’s consent to conduct the interview. The two incidents have really changed Ms. Kiryabwire’s view and perception about me.”

The author says she was later threatened by Ms. Kiryabwire telling her to stick to my lane.
“Ms. Kiryabwire has on several occasions intimidated me, threatened to cause my dismissal from the Authority both on phone and email.” She noted.
In the letter the author says that Ms. Kiryabwire is asking for money from an applicant, for a license to start a Collective Investment Scheme and Real Estate Investment Trust to accomplish the process in one week.
“The new market player who is applying for a license is a fraud star intending to defraud Ugandans of money they only want CMA to legitimize the venture and the Director Legal Affair and Compliance has already given in.” the letter ends.
The letter calls on the IGG to investigate Ms. Angella Kiryabwire Kanyima and the whole Department of Legal Affairs at CMA.

Angella Kiryabwire is no stranger to controversies; she was recently dragged to the Uganda Law Council by JK. Holdings for releasing confidential information to the company’s competitors.