Records indicate that more than 1,000 customers from around the country had deposited money ranging from one million to 800 million Shillings, upon being promised a 40 per cent return on investment. At the time of its closure, the company had collected an estimated 10 billion Shillings from the public.
According to a review undertaken by Muwanga on the performance and implementation of the approved budget, it was observed that during the financial year, the Minister of Finance Matia Kasaija approved a supplementary budget of Shillings 1.772 trillion but upon tabling the expenditure before parliament, only 615.7 billion was approved leaving 1.156 trillion unapproved.
The Auditor General John Muwanga noted that although the government appointed the Investment Advisory Committee (IAC), there is no approved Petroleum Revenue Investment Policy (PRIP) and Investment framework to guide operations of the petroleum revenue.
The Electoral Commission requires 796.88 billion Shillings for the organization of the presidential, parliamentary and local council elections during the financial year 2020/2021. The money was supposed to be released in three phases starting this financial year to enable proper and timely implementation of electoral activities.