Bank of Uganda Senior Staff Arrested With Sacks Of Money

Bank of Uganda (BoU) is still grappling with a new multibillion scandal after three officers of the Bank being nabbed with stashes of money hoarded in sacks.

Our desk has it that a team of undercover and Anti-Corruption taskforce detectives raided BOU offices in Mbale a few days back and arrested some senior managers there.

BoU Mbale offices

We have learnt that after conducting thorough searches in the properties and offices of these staff members several sacks of money in billions of shillings, both in local and foreign currencies were recovered.

However, due to the sensitivity of the matter, the police are still withholding the identities of the suspects, so as not to jeopardize the investigations and to extract more information from them.

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According to security sources, the three are part of the racket in Bank of Uganda that smuggle out money which is supposed to be destroyed and return it into circulation.

They were arrested after a combined team of security operatives from police, intelligence and military stormed the currency centre after a tip off from an internal staff that it had become norm for money which is supposed to be destroyed to be ferried outside the bank and shared among top staff.

“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,” said a security source who preferred anonymity.

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