Documents breakdown: Namyalo shares bank statements amidst fire from netizens

• Namyalo shared bank statements covering July 4, 2022 to August 31, 2022.

• The account received about UGX 245 million, peaking at UGX 263.9 million.

• Major withdrawals included UGX 80 million and UGX 30 million.

• The account balance ended at about UGX 142.8 million after frequent withdrawals.

Hajat Hadijah Namyalo, the head of the Office of the National Chairman (ONC) of the National Resistance Movement (NRM), has shared her bank records in self-defence after netizens questioned her sources of income following two major splurges she made recently.

The boisterous NRM bigwig recently gifted her five-year-old son a car reportedly valued at Shs230 million and unveiled a mansion in Kyanja worth hundreds of millions of shillings, if not billions.

Taking to X, Namyalo shared her bank statements with Centenary Bank, showing that she already had hundreds of millions move through her account before securing her current position in the NRM. The statement covers the period from July 4, 2022 to August 31, 2022 and reveals a pattern of heavy deposits followed by frequent withdrawals.

At the start of the period, the account had a balance of only UGX 961. On the same day, however, UGX 35 million was deposited, pushing the balance to over UGX 35 million. In simple terms, a deposit means money being put into the account.

Over the following days, the account began recording regular withdrawals of UGX 1 million at a time. A withdrawal means money being taken out of the account. These withdrawals often happened several times in a single day, and each one attracted small bank charges of about UGX 1,000 as a fee and UGX 150 as tax.

On July 16, another large deposit of UGX 60 million was made, raising the account balance to about UGX 90.9 million. Just days later, on July 22, the account received its biggest single deposit of UGX 150 million, pushing the total balance to about UGX 234.9 million.

The account remained active, with more withdrawals following shortly after the deposit. On August 9, another UGX 35 million was added, bringing the account to its highest level of about UGX 263.9 million.

Despite reaching this peak, the money did not remain in the account for long. The records show that withdrawals continued almost immediately after each deposit. The most notable transactions occurred in mid-August.

On August 15, a large cash withdrawal of UGX 80 million was made directly from the bank. This type of transaction, known as a counter withdrawal, means the money was collected physically at the bank rather than through an ATM.

This single transaction caused the balance to drop sharply from about UGX 255 million to roughly UGX 175.9 million. It also attracted additional charges, including a UGX 10,000 withdrawal fee and UGX 1,500 in tax.

Withdrawals continued in the following days, again mostly in UGX 1 million amounts. On August 24, another large withdrawal of UGX 30 million was made, further reducing the balance. By this point, the account stood at about UGX 142.8 million.

The statement also shows other smaller deductions such as balance inquiry charges, ledger fees, and an inter-branch charge of UGX 57,500, which are routine bank costs.

Overall, the records indicate that a total of about UGX 245 million was deposited into the account during the period, with the balance peaking at approximately UGX 263.9 million.

The biggest single withdrawal was UGX 80 million, followed by another large withdrawal of UGX 30 million. By the end of the period reviewed, the account balance had reduced to about UGX 142.8 million.

The pattern that emerges is one of large amounts of money being deposited and then quickly withdrawn, first through repeated smaller transactions and later through large cash withdrawals.

Many netizens also noted that the funds were all self-deposits and the money moved was not that much to justify her current spending patterns.