BoU cash theft: 17 officials under close watch as probe extends to Japan, UK

An investigation into how more than UGX60 billion was stolen from the Bank of Uganda has now been extended to Japan and UK where the money is believed to have been transferred, Kikubolane has learnt.

Detectives from the Chieftaincy of Military Intelligence (CMI) and Criminal Investigations Directorate (CID) on Thursday intimated to this website that they have written to their counterparts in Japan and UK to provide information on who transferred the money from Uganda.

So far, the detectives said, 17 officials from Bank of Uganda, Ministry of Finance and the accountant general’s office are under close scrutiny after they were summoned and some detained.

“All the interrogated persons have been put under strict security watch and their electronic gadgets such as smartphones and laptops have been seized,” the source said.

The President is also reported to be on top of the matter and constantly asking for updates from the detectives.

Details indicate that the money was moved from BoU to foreign banks in September. The source said BoU after unearthing the criminal transactions and with the help of cyber experts from CMI, CID and NITA-U traced some of the money on foreign accounts and contacted its counterparts and the accounts were frozen.

“The last information I got from investigators, particularly the cyber team is that $11m was yet to be withdrawn from the accounts and with the help of officials in the countries where it had been sent, these accounts were frozen. Our task is to trace where the remaining money is,” a source said.

On Thursday afternoon, the Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi told Parliament that investigations are underway.

“It is true that our account was hacked but not to the extent of what is being reported. To avoid misrepresentation of facts, when the audit and CID investigations are finalised, I beg that I come to this House and report,” he said.

Musasizi said that he will present a report of the findings a month’s time, adding that, ‘as of now, any matter I disclose on this issue will risk misrepresentation of facts’. 
The minister’s brief statement was in response to the Leader of the Opposition, Hon. Joel Ssenyonyi who demanded that government clarifies on the allegations. 
“It alarmed me because this is our Central Bank. I thought government should help us understand; it is important that we know what exactly is happening,” Ssenyonyi said.