Equity Bank Uganda boss in UGX 62 billion disappearance of customers savings released

Erin Nabisubi, a former Relationship Manager for Telecom at Equity Bank, accused of defrauding the bank of 62 billion shillings, has been granted bail.

The Anti-Corruption Division of the High Court, presided over by Justice Lawrence Gidudu, ruled in favor of her release on October 2, 2024, following a detailed review of her case.

Nabisubi, who has been in custody since March 2024, is charged with facilitating fraudulent disbursements to individuals who did not qualify for the funds.

The court’s decision to release her on a cash bail of 50 million shillings came after Justice Gidudu determined that her sureties were substantial. Her sureties, Joshua Muwanguzi, Fred Mukoka Mugambe, and John Ronald Isabirye, were required to execute a non cash bond of 200 million shillings.

Justice Gidudu emphasized that bail should not be denied merely because the State wishes to keep an accused person in detention without having proven the case. He also pointed out that ongoing police investigations should not be grounds to withhold bail.

The court acknowledged that Nabisubi and six co-accused individuals had been held without committal to trial for over 180 days, exceeding the legal limit for pre-trial detention. The charges, which include money laundering, can only be tried by the High Court, and there has been no indication of when the case will proceed to trial.

As part of her bail conditions, Nabisubi was required to deposit her Mailo land title—specifically plot 759, block 170, located in Kijabijo—with the court as additional security. Furthermore, she must report to the court registrar on a monthly basis, starting on November 1, 2024, in line with the scheduled mentions of her case in the magistrate’s court.

The judge noted that the Ugandan Constitution does not permit indefinite detention without committal, and Nabisubi’s extended time on remand was a clear violation of this principle. Justice Gidudu stressed the need for timely investigations and highlighted the court’s responsibility to ensure that justice is not delayed.