KAMPALA, Uganda: Senior Superintendent of Police (SSP) Nickson Agasiirwe Karuhanga is feared like Herod for supposedly torturing suspects. But he is now shaking like a reed in the wind after a city bank put up his prized pad in Namugongo for auction.
The financial institution in question is GT. The bank accuses the blue-eyed boy and right-hand man of police boss Gen Kale Kayihura, of stubbornly refusing to pay a balance of Ugx75m out of the money he borrowed.
We understand that Agasiirwe borrowed Ugx161m from GT Bank on June 8, 2015 to invest in his private businesses. He secured the loan by mortgaging his home situated on plot 9934 Block 180, Namugongo, Kira municipality in Wakiso district. The financial worth of the home and land facing auction is thought to be in the region of over UGX1Bn.
Following Agasiirwe’s failure to service the loan fully, we now know that the auctioneers have since kicked off the process of auctioning his home by running an advert in the print media on May 6th calling on prospective buyers to put in their bids.
The bank had written several letters to Agasiirwe asking the senior ‘torture cop’ to return the money he took only for the debtor to snub the warnings. This prompted the bank authorities to act tough by advertising the debtor’s home for auction.
The advert rubbed Agasiirwe the wrong way. Terrified like a rat cornered by a cat, he has since dashed to court begging the temple of justice to save his home from auction. We know that he filed his case through Joel Olweny and company advocates. We looked at the brief facts of Agasiirwe’s lawsuit wherein he claims to have cleared the loan to zero balance.
He goes on to accuse the bank of refusing to part with his land title ‘in spite of the fact that I have since cleared the loan to zero balance.” Much as Agasiirwe claims to have cleared the loan in totality, he shoots himself in the foot by stating that his relationship manager in the bank wrote to him in February this year to say that he still owed the bank a balance of Ushs49m.
He also adds that the Ugx75m demanded by the bank is as a result of a ‘harsh and unacceptable’ interest rate of Ugx4m that accrue every after two months. But this statement would imply that Agasiirwe admits to owing money to the bank, though he seems to be unaware of the exact sums due, much as he claims to have settled the loan to zero balance.
“Following a brief from my relationship manager, the managing director of the bank verbally called me on his mobile phone with information that my loan balance was now Ugx75m ,” Agasiirwe states.
He adds that subsequent to the MD’s assertions, “I tried to reach my bankers to have them release my loan account details but they persistently dodged me and acted in a fragrant manner contrary to the banking ethics and practices.”
In the meantime, Agasiirwe has filed an application asking for an interim order suspending the auction of his home until his grievances are heard and determined by court. Court has yet to fix the application for hearing.