Diaspora Investor Accuses DFCU Bank of Holding Property Titles, Demands Justice

By Amos Ssemuwemba 

A Canada-based Ugandan businessman, Daniel Dennis Ssemugenyi, has accused DFCU Bank of unlawfully withholding his property titles despite fully settling a mortgage loan. He claims the bank forced him to repay the UGX 226 million loan for a condominium in Naalya within two and a half years, instead of the agreed 13 years.

Ssemugenyi, who operates several diaspora accounts with DFCU Bank, says the bank froze his accounts after he cleared the loan and began debiting funds without his consent. He alleges that bank officials demanded bribes to release his funds and titles, threatening to report him to the Financial Intelligence Authority as a suspected money launderer. “My only crime is sending money from my Canadian accounts to Uganda,” he said, accusing the bank of unjustly labeling him.

In response, DFCU Bank’s Head of Corporate Affairs, Helena Mayanja, acknowledged the loan repayment but denied any misconduct. “We would like to clarify that while the client ultimately settled his loan, it is not accurate to state that he was required to do so within two and a half years,” she said, adding that the bank had only recently received a formal request for the release of the property titles.

However, Ssemugenyi disputes this claim. “All these are lies. I have executed formal requests multiple times,” he said, adding, “The bank has written to me, terminating our relationship, yet they still hold my property titles. Why should they hold onto my titles if they no longer wish to do business with me? This is theft.”

The case raises concerns about DFCU’s treatment of diaspora clients, with Ssemugenyi demanding full access to both his funds and property.