Local Uganda newspapers have reported that the National Social Security Fund (NSSF) bought 402 acres of land from Security Minister Amama Mbabazi and Rwandese origin businessman Amos Nzeyi for US $6.9 million. According to two real estate independent firms, Knight Frank International and Associated Consulting Surveyors, the amount paid by NSSF represented an overvaluation of about 100%. According to sources in Uganda banking circles the primary purpose for the deal was not the profit, but to liquidate investment in Buganda land.

At the beginning of August, Amama Mbabazi told The Independent magazine that he and Nzeyi sold land to NSSF to generate funds for buying out partners in the National Bank of Commerce, formally named Kigezi National Bank. Banking sources have told Buganda Post that the NSSF land sale was motivated by two major objectives. First, they wanted to take their money out of Buganda land because they are convinced that it is becoming too risky as the stand-off between the Kabaka and Museveni continues. Making a tidy profit through the NSSF deal was only a bonus. Secondly, they wanted to eliminate Kenyan and other untrusted shareholders so they can maintain maximum secrecy over who keeps money in their bank.

The National Bank of Commerce was originally called the Kigezi National Bank. It was started in the mid-1990s, when large scale money laundering and big stake corruption was taking root in Uganda. The initial investors in Kigezi National Bank included Ruhukana Rugunda, Tumusiime Mutebire (Bank of Uganda Governor), Amos Nzeyi, Sam Kuteesa, and others. Members of the banking community allege that for over five years, Kigezi National Bank has served as a vehicle for the owners and their friends to launder Congo and other ill gotten funds until around the year 2000 when they took on Kenyan partners and renamed it National Bank of Commerce. Total secrecy about the customers and transactions at National Bank of Commerce will give Mbabazi and his partners maximum flexibility to clean and legally move their massive wealth, including outside Uganda, without detection.

Mbabazi and Nzeyi are not the only wealthy Banyankore and Rwandese who are holding back on or exiting land investments in Buganda. Based on transactions at the Uganda Land Office, overall purchases of Buganda land by Banyankore, Bakiga and Banyarwanda have drastically fallen off since 2006.