BoU officials arrested for printing their own money

The Anti-Corruption Unit of State House headed by Lt Col Edith Nakalema raided Bank of Uganda (BoU) and arrested five officials for printing their own money.

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

It is reported that the officials have been printing money off the official approved figures and the unit impounded Shs60bn as evidence.

The money entered Uganda through Entebbe airport well printed and was transported using Bank of Uganda currency vans to the Central Bank and reaching Kampala then some money disappeared on streets for circulation.

Bank of Uganda (BoU) team months ago travelled to Germany aboard a chartered airplane to bring printed cash from (Germany) 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 Shs90bn 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 Shs90bn into their own vehicles and drove to Bank of Uganda.

The directors are now detained at CMI headquarters in Mbuya.