BoU admits theft of old currency notes, suspects sent on forced leave

The Bank of Uganda has admitted theft of old currency notes from the central bank.

According to Daily Monitor Newspaper, BoU communications director, Charity Mugumya confirmed that BoU authorities are currently investigating Bank of Uganda staff who stole old currency notes at the currency center in Mbale and that some staff have already been asked to go on forced leave.

“There were allegations of pilferage involving cancelled stock at Mbale Regional Branch. The Bank is conducting internal investigations to ascertain the veracity of the allegations. As a result, some staff were sent on leave to pave way for investigations. Details will be available as and when investigations are complete,” said Mugumya.

Last month, security operatives arrested three staff of Bank of Uganda in Mbale who were reported smuggling out money in sacks.

According to security sources, the three were part of the racket in Bank of Uganda that smuggle out money which is supposed to be destroyed.

“It is true, we have three staff of Bank of Uganda who were caught red handed smuggling money outside which is against the norms of the central bank.” A source told Eagle Online, a local news website.

In June, the State House Anti-Corruption Unit (ACU), police and other security agencies kicked off investigation into BoU over the extra Shs90 billion that was printed separately and shipped into the country without the knowledge of the governor. It later on turned out that it is indeed Mutebile himself who had petitioned State House ACU’s Lt. Col. Edith Nakalema to investigate the scandal of extra printing of money.

The director of Currency department at Bank of Uganda, Charles Malinga was arrested and arraigned before Anti-Corruption Court in Kololo over the extra printing of money before his appearance, Francis Kakeeto, a branch manager at Mbale and Fred Wanyama were charged with abuse of office and in alternative corruption which they have both denied before magistrate Herbert Asiimwe.

Prosecution informed court that on April 26, 2019 between France, Belgium and Entebbe airport, the duo while on assignment by their employer to carry out a pre-shipment inspection of printed materials in France, in abuse of the authority to offices did an arbitrary act prejudicial to the interest of their employer and allowed the inclusion of unauthorized case on a cargo plane fully chartered by BoU.

Hardly a month after, Uganda Police detectives were reported to be investigating Shs400 billion that the Bank of Uganda (BoU) officials transferred and stored in BoU Masaka Currency Centre in a room without CCTV cameras, meaning the money could be stolen without tracing it.