BoU bosses held over shs90b self printed cash

The Anti-Corruption Unit of State House headed by no nonsense Lt Col Edith Nakalema has raided Central Bank of Uganda and arrested five officials for printing their own money.

The operation also involved Chieftaincy of Military Intelligence [CMI], Internal Security Organisation [ISO] and members of the regular police force.

The intervention followed a whistle blown by BoU governor, Professor Emmanuel T. Mutebile to anti corruption unit, revealing to them of “new rot inside”.

In his letter to the public dated 14, June 2019, governor writes that his institution was committed to maintaining its operation “and are working with the relevant authorities to bring the matter to its logical conclusion”.

Governor’s letter.

It is reported that the officials have been printing money off the official approved figures, and the security impounded shs60b as evidence.

How it arrived.

The money entered Uganda through Entebbe airport from Germany through a charter plane and was transported using Bank of Uganda currency vans to the Central Bank.

Some of the monies recovered.

BoU team months ago travelled to Germany aboard a chartered plane to bring back the printed cash from where the Ugandan shilling is printed.

The team was led by Dr. Barenzi, the deputy director in charge of operations who represented Charles Malinga Akol, BoU’s Executive Director Operations.

Dr. Barenzi and another officer allegedly printed money to a tune of Shs90b in excesses and used some of it to buy goods which were as well loaded into the chartered plane.

At Entebbe, two officials stashed the illegal money into their own vehicles and drove to Bank of Uganda.

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