Court to hear a case of alleged theft of UGX 600m

12 August 2024, 8:02 pm

By Annet Nakato

The commercial court in Nakasero, presided over by lady justice Patience Tumusiime Rubagumya, has set 2nd September as the start date for hearing a case involving allegations of the theft of UGX 600 million. Godfrey Muhiirwa, the proprietor of Yamaha Centre Ndeeba, is accusing Christopher Ssaazi, the director of Nile Fishing Company Limited Yamaha, of stealing the aforementioned amount.

According to court documents, in 2019, Nile Fishing Company Limited Yamaha was the main distributor of Yamaha equipment in Uganda. Muhiirwa allegedly deposited UGX 105 million into Nile Fishing Company’s account at Housing Finance Bank to purchase 50 Yamaha water engines, which were supposed to be delivered within three days.

However, Nile Fishing Company Limited allegedly failed to deliver the engines and refused to refund the money, which has since accumulated to over UGX 600 million with interest. Muhiirwa is seeking justice and the recovery of his funds. The case has sparked interest in the business community, highlighting concerns about corporate governance and accountability.

The outcome of the case may set a precedent for future business transactions and disputes. Muhiirwa is also urging Parliament and the Ministry of Justice and Constitutional Affairs to intervene in financial cases in the courts, as many opportunists are seizing people’s properties. Lady justice Patience Tumusiime Rubagumya is expected to preside over the case, which is set to commence on 2nd September.

The court’s decision will be eagerly awaited by all parties involved.