BoU introduces tough measures to curb stealing of old notes

By Our Reporter

Following the arrest of some of the Bank of Uganda (BoU) employees for stealing of old currency notes at Mbale Currency Centre, the institution has now established measures to stop the bad practice that affects the economy.

The BoU Acting Director in the Currency Department, Bazinzi Natamba, yesterday issued a warning to note examiners and other staff, directing that none of them should access a counting /machine room of another currency centre without authorization.

In an internal Memo, Natamba further warned that no staff other than note examiners should participate in the counting machine room activities such as sorting, punching and strapping of stocks.

“Always ensure that the daily CCTV recordings are reviewed. Immediately stop staff from carrying into the counting rooms any items such as tea, water, eats, juices, among others, for personal use. Urgently remove waste baskets/boxes in the counting rooms,” he said.

A combined team of security operatives from police, intelligence and military stormed the currency centre in Mbale after a tip off from an internal staff why it had become norm for money which is supposed to be destroyed was being ferried outside the bank and shared amongst top staff.

In June, State House, police and other agencies were investigating BoU over the extra Shs90 billion that was reportedly printed separately and shipped into the country without the knowledge of the Governor Tumusiime- Mutebile.
It later turned out that it is Mutebile himself who had petitioned Lt. Col. Edith Nakalema, the head of State House Anti-Corruption Unit, to investigate the scandal of extra printing of money.

The Director of Currency department at Bank of Uganda, Charles Malinga was arrested and arraigned before Anti-Corruption Court in Kololo over the extra printing of money and before his appearance, Francis Kakeeto, a branch manager at Mbale and Fred Wanyama were charged with abuse of office and in alternative corruption which they have both denied before magistrate Herbert Asiimwe.

The huge money is said to have been transferred to Masaka on June 14, 2019, the time when investigators started probing BoU and other officials over the anomaly in the consignment of the 20 pallets packed with Uganda Shillings notes that were delivered at Entebbe International Airport by BoU chartered plane on April 26, even though, extra 5 pallets were onboard and their whereabouts is unknown.