Overview:
The robbery was discovered early Tuesday around 7:00 am, when the branch manager arrived for work and found the bank had been broken into during the night.
Police in Nakasongola District are investigating a daring robbery in which unknown assailants made off with over Shs192 million from the Finca Bank branch in Nakasongola Town, exposing yet another breach in the security of financial institutions in Uganda.
The robbery was discovered early Tuesday around 7:00 am, when the branch manager arrived for work and found the bank had been broken into during the night. The perpetrators, whose identities and method of entry remain unclear, also made away with two laptops and other undisclosed items.
According to Savannah Regional Police spokesperson Sam Twiineamazima, preliminary findings indicate the suspects stole Shs192,587,800 in cash. “Our officers responded immediately, examined the scene, and recorded statements from staff and witnesses. We have arrested four individuals to assist with the ongoing investigations,” Twiineamazima said.
The branch is known to be guarded 24 hours a day by SGA Security, including regular night patrols—raising questions about how the thieves breached the premises undetected.
As of Tuesday evening, Finca Bank Uganda had not released an official statement regarding the incident.
Part of a Troubling Pattern
This latest robbery comes amid growing public concern over the frequency and audacity of attacks targeting financial institutions. It follows a botched heist at Diamond Trust Bank in Wakiso just two months ago—in April—where a security guard was shot dead during an attempted robbery that involved a conspiracy within the bank’s own security team.
In that case, police investigations revealed that a group of guards from GKO Security Company, led by Emmanuel Ekawu, allegedly tried to rob the bank by cutting off power, disabling cameras, and accessing the premises through a rear maintenance entrance. The plot was thwarted when the bank’s alarm system triggered a rapid response from both police and local residents. A gunfight ensued, resulting in Ekawu’s death and the arrest of several accomplices.
The Wakiso and Nakasongola incidents echo similar patterns: attempts made under the cover of night, security failures or collusion, and vulnerabilities in surveillance systems.
Rising Threat to Financial Institutions
Uganda has in recent years witnessed an uptick in high-stakes robberies targeting banks, microfinance institutions, and mobile money agents. Analysts point to a combination of internal lapses, inadequate surveillance, and sometimes complicity by insiders, including private security guards.
A 2023 police report on commercial crime indicated that financial institutions remain soft targets due to predictable routines, limited night-time staffing, and lax oversight of private security deployments.
Although the Finca robbery did not involve direct confrontation or loss of life, its scale and execution have alarmed both authorities and the public.
“This robbery highlights persistent gaps in physical and personnel security at financial institutions, especially in upcountry towns,” said a senior police officer who preferred anonymity.
Security experts warn that with growing economic pressures, such crimes may increase unless there is significant investment in technology-based surveillance, auditing of security providers, and better coordination with police intelligence units.
Next Steps
Police have confirmed that forensic teams are analysing the scene for fingerprints, footprints, or other evidence that may point to how the robbers accessed the premises and bypassed security.
Investigations are also exploring whether the theft involved insider collaboration, particularly since the vault was breached without triggering a response from the on-site guards.
The arrested suspects are currently detained at Nakasongola Central Police Station and are undergoing interrogation. Detectives are reviewing surveillance footage from nearby businesses and streets to trace the getaway route or vehicles used.
As the investigation unfolds, residents and local leaders have expressed concern over the safety of banks and savings institutions in the area, urging banks to bolster their nighttime security measures.