By Jako David Waluluka
Breaking news has emerged that eight top officials from the Ministry of Finance and the Bank of Uganda have been arrested in connection with the disappearance of $16 million (approximately Shs60 billion) from the central bank.
The Criminal Investigations Directorate (CID) has this afternoon detained the Accountant General and seven other officials from the Ministry of Finance and the Bank of Uganda as investigations into the disappearance of $16 million (about Shs60 billion) from the central bank.
The detained officials include the Accountant General and seven others, whose case files have been transferred to Nateete Police Station and Kira Division Police for further processing.
Preliminary investigations suggest that the stolen funds were transferred from Bank of Uganda accounts to foreign banks in Japan and the UK, allegedly by staff at the central bank and Ministry of Finance. A total of 17 people are being investigated, including nine Bank of Uganda employees, six from the finance ministry, and two from the accountant general’s office.
Insiders reveal that more arrests are expected in the coming days. This development comes amid concerns about the security of Uganda’s financial systems and the potential for insider corruption. The government has confirmed that the Bank of Uganda was hacked, but denied reports of a Shs62 billion loss
