Mutebile’s reputation at stake as CID leads fresh BoU probe over illegal printing of Shs90 billion - Daily Post Uganda

Mutebile’s reputation at stake as CID leads fresh BoU probe over illegal printing of Shs90 billion


KAMPALA: State House’s Anti-corruption Unit led by Lt Col. Edith Nakalema, has confirmed that a major investigation into some affairs at Bank of Uganda BoU, including discrepancies in printing and transportation of some billions of shillings, is underway.

“This investigation is being carried out following an invitation by the governor of the Bank of Uganda and in close cooperation with the governor’s office. The matter under investigation involves a recent procumbent consignment. A number of senior bank personnel, customs and civil aviation authority personnel are being questioned. The Bank of Uganda operations remain intact and uninterrupted .Further updates will be provided in the due course,” says Nakalema.

The investigation, according to reliable sources, is being led by the Police Criminal Investigations Director Grace Akullo, who led a team of investigators that held a long day meeting at the Central Bank on Wednesday.

Ms Akullo has apparently been assigned to lead the investigation by the State House Anti-corruption Unit, led by Lt. Col. Edith Nakalema, and has enlisted the support of the Police Special Investigations Unit, detective Elly Womanya.

Don Wanyama, the Senior Press Secretary to the President on Friday confirmed that BoU top officials are being grilled and that the State House’s Anti-corruption unit will issue official statement later.

However, according to available information, five top officials at BoU are in trouble, and were subject of deliberations in the Wednesday meeting.

BoU officials according to reports left the country to German where Uganda prints its cash aboard a chartered airplane to ferry the printed cash to Uganda.

However, upon arrival, this website has learnt, the delegation headed by Dr. Barenzi, the deputy director who represented Charles Malinga Akol, BoU’s Executive Director Operations who was on leave allegedly ordered for printing of over UGX 90 billion in excesses ‘without knowledge of their Bosses.’

Sources close to the controversial development say, some of the said Shs90 billion was used for purchasing goods which were as well loaded into the chartered plane.

Ferrying cash to Entebbe

Sources say at Entebbe International Airport the delegation was received by another team from BoU and the security team but two officials allegedly snubbed security and ferried the cash into their private vehicles that never reached central bank

Industry commentators say Bank of Uganda officials have had a habit of printing money off the official approved figures and that investigators believe this has been going on for a while since its believe that top cream of Bank of Uganda is involved in the scheme.

Operation specs to arrest those involved are still keep a top secret, only security directors involved in this operation are aware of who next to arrest, it is believed that the president gave a green light to this huge operation.

This website has learnt that five top officials of the bank of Uganda are being held at CMI headquarters and 60billion shillings balance has been impounded as evidence.

Sources say that money entered Uganda through Entebbe airport well printed and transported using Bank of Uganda currency Vans to the Central Bank, a top high-level intelligence team entered the Central Bank and arrested whoever was involved.

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