editor
Ugandan authorities have arrested nine senior officials from the Ministry of Finance over allegations of hacking into the Bank of Uganda’s electronic systems and stealing 62 billion Ugandan shillings (about $16.87 million).
The arrests mark a major development in an ongoing investigation into one of the biggest financial fraud cases in the country’s history.
The detained officials, including a top Treasury officer, are accused of orchestrating the fraudulent transactions. The Ministry of Finance confirmed the arrests, stating that some officers attached to the Accountant General’s office had been summoned by the Criminal Investigations Department (CID) to assist with the probe. Police spokesperson Kituuma Rusoke later revealed that nine individuals had been detained, though their names were not officially released.
The case first came to light in November last year when State Minister for Finance Henry Musasizi admitted that the central bank’s accounts had been compromised and money had been illegally transferred. At the time, initial reports suggested that the heist was the work of external hackers. However, as the investigation progressed, authorities began to suspect an inside job, with evidence pointing to collusion between Ministry of Finance officials and staff at the central bank.
So far, at least 17 people have been questioned in connection with the case, including nine from the Bank of Uganda, six from the finance ministry, and two from the Accountant General’s office. Investigators have seized electronic devices such as laptops and mobile phones from the suspects to analyze their communications and financial transactions.
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President Yoweri Museveni has ordered a high-level investigation led by the Defence Intelligence and Security (DIS), formerly known as the Chieftaincy of Military Intelligence (CMI), in coordination with the CID and the External Security Organisation (ESO). Their goal is to uncover the full extent of the fraud and ensure all those involved are brought to justice.
While Minister Musasizi declined to confirm the exact amount of money stolen, he assured the public that a full report would be presented to Parliament once investigations are complete. Meanwhile, efforts are underway to recover the stolen funds. Authorities in the United Kingdom have reportedly frozen bank accounts linked to the theft, where over $11 million (roughly 40 billion Ugandan shillings) was transferred. Alerts have also been sent to Interpol and financial authorities in Japan, the UK, and other countries suspected to have received some of the stolen funds.
This case has raised serious concerns about the security of Uganda’s financial systems and the integrity of its institutions. Investigators are expected to recommend stronger measures to prevent future breaches and restore public confidence in the country’s banking sector.
