Ikwera SACCO leaders in trouble as Shs 114mln disappears

KWANIA– Police in Kwania district are investigating leaders of Ikwera Savings and Cooperative Society [SACCO] following the mysterious loss of members’ savings worth Shs 114 million.

The SACCO leaders are being accused of swindling the money, making the SACCO offices to be closed temporarily.

It is alleged that between May and October last year, the SACCO Chairperson, Robert Odur who is currently on the run, embezzled the money in question, leaving members heartbroken.

Trouble for the SACCO leaders started in July last year when some of the members stormed the SACCO offices demanding their savings but they were shocked to be told the SACCO was financially constrained and unable to release their savings.

Failure by the leaders to release the savings prompted some of the SACCO members to run to the police for help.

Jacob Ogwal, the chairperson Kwania Friends’ Association said, “We gave them a grace period of three months to look for money we saved with them in 2019 but in vain. Offices are now locked and the SACCO leaders are nowhere to be seen. My members are demanding Shs 14mln and we want the leaders investigated and brought to book.”

Another member Lillian Adongo, a peasant farmer and a member of the SACCO had saved Shs 7mln. Adongo is disappointed that the SACCO leaders lost her money, “I expected to withdraw part of this money and start a small business but my hope met a dead end.”

“The SACCO leaders should be arrested and made to pay my money with interest, “she added.

Patrick Bura, Kwania district commercial officer said the negligence of the SACCO members gave their chairperson Odur and the manager chance to run away with the money.

Kwania district police commander, Charles Mugisha said the matter is under investigation, “We have already opened up a general inquiry file on Ikwera SACCO issue and investigation is ongoing,” he said in a brief telephone interview on Wednesday.

Odur and the SACCO manager Felix Oguna, who are on the run did not pick our repeated phone calls.

However Odur, in a recent interview with this reporter over the same matter said most of the SACCO members failed to service their loans amounting to Shs 114mln. He then threatened to name and shame the defaulters, a strategy that never worked for him.

Ikwera SACCO Limited, located in Aduku town council in Kwania district is one of the pioneer SACCOs in Lango Sub-region. The SACCO that formed in 2009 with a membership of 40 currently has  1,140 members with a loan portfolio of Shs 270mln.

https://thecooperator.news/pay-your-loans-by-end-of-january-2023-gulu-city-emyooga-saccos-told/

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