Upon discovering these discrepancies, BoU initiated internal investigations and alerted authorities, including the Criminal Investigations Directorate (CID) and the Financial Intelligence Authority (FIA). Deputy Governor Michael Atingi-Ego emphasized that the fraud originated outside BoU's IT systems, stating, "Bank of Uganda is a paying entity. You get instructions to pay, and we pay as instructed."
TELEGRAPH UGANDA#news #bankofuganda #ssenyonyi #nrm #ssegona #financialplanning
As of December 6, 2024, BoU has successfully recovered USD 8.205 million of the diverted funds, which have been credited back to the government's account. However, challenges remain in recovering the remaining amounts, particularly due to a lack of cooperation from MUFG Bank in Japan.
DAILY EXPRESS
The incident has prompted parliamentary scrutiny, with officials like Hon. Joel Ssenyonyi urging the government to provide clarity on the situation. In response, the Minister of State for Finance, Hon. Henry Musasizi, acknowledged the breach and indicated that investigations by the Auditor General and CID are ongoing.
PARLIAMENT OF UGANDA
BoU has firmly denied any hacking of its IT systems and stated that no internal staff members have been implicated in the fraud. The central bank continues to collaborate with domestic and international partners to recover the remaining funds and prevent future occurrences
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