Auditor General’s Report on Shs60 Billion Bank of Uganda Fraud Forwarded to CID

Parliament has forwarded the Auditor General’s forensic audit report on the alleged loss of Shs60 billion from the Bank of Uganda (BoU) to the Directorate of Criminal Investigations (CID) for further scrutiny.

The move was announced by Speaker Anita Among during a plenary session on Thursday, January 9, 2025, after the report was officially tabled by the Government Chief Whip, Hon. Denis Hamison Obua. Speaker Among revealed that the decision followed consultations with President Yoweri Museveni.

“Looking at the ingredients of the report, they are criminal in nature, and because of their criminality, we will direct this report to the CID for further management,” said Speaker Among.

The Speaker overruled requests from Ndorwa East MP Hon. Wilfred Niwagaba and Tororo North MP Hon. Geofrey Ekanya, who sought to have the report scrutinized by Parliament’s committees before being sent to the CID. “Since this is part of the Auditor General’s report, it would ordinarily be sent to the relevant committee of Parliament, then debated before any further decision,” argued Niwagaba.

The report stems from a forensic audit request by Parliament on November 28, 2024, following concerns raised by the Leader of the Opposition, Hon. Joel Ssenyonyi, over the reported loss of funds from the Central Bank.

In November 2024, media reports alleged that hackers accessed the Bank of Uganda’s treasury system, siphoning over Shs60 billion. State Minister for Finance Hon. Henry Musasizi admitted that the Central Bank accounts had been compromised but claimed the stolen amount was less than reported.

BoU Deputy Governor Michael Atingi-Ego, appearing before the Committee on Commissions, Statutory Authorities, and State Enterprises (COSASE) on December 17, 2024, disclosed that the fraudulent transactions were due to a faulty directive from the Ministry of Finance, leading to double debt-servicing payments to unintended beneficiaries in Japan.

Atingi-Ego also confirmed that BoU had recovered US$8.2 million of the stolen funds.

With the report now in the hands of CID, further investigations are expected to determine the full extent of the fraud and hold those responsible accountable.