By Our Reporter
The Directorate of Criminal Investigation and Crime Intelligence (CIID) has launched an extensive investigation into the disappearance of old bank notes at the Bank of Uganda (BoU) that were meant for disposal but ‘grew’ wings and took to the heels on learning they were to be disposed of like any other useless garbage!
It’s a practice at the central bank to discard old bank notes but replace them bank into the economy. Now.what is likely to happen is that a replacement might be released thinking the old ones are no longer in circulation only to meet at one of Cashiers’ desks in Supermarkets.
Infact, according to CIID operatives who didn’t want to be mentioned, but who are involved in this investigation, some officials charged with this activity at BoU have been pocketing some of these bank notes meant for destruction.
One such official mentioned severally, and without fear of contradiction is Charles Ocheng Kasedde, who until August of 2019 headed treasury at BoU’s unit in Mbale.
CID spokesperson Charles Twine also was quoted via phone by bwino online on Saturday that Kasedde was arrested, as a key in the said crime and was already being ‘useful’ to the ongoing investigations, Twine said.
According to Twine, the central bank administration had earlier detected fraud, which prompted them to fire Kasedde. “ I think BoU bosses had already acted on him by firing him, I’m sure they must have smelt something not right, because he wasn’t laid off over his mandatory age, he was still legible and strong to serve,” Twine was quoted saying.
Meanwhile, according to Twine, detectives examined CCTV footage, which showed Kasedde carrying loads of cash.
Over Shs400 million meant to be discarded has been lost through such schemes, sources said.
Investigators are also looking into the wealth obtained by Charles Ocheng while at the bank. His case file is already at the Directorate of Public Prosecution for scrutiny.
The CID spokesperson said more officials have been put on the spotlight, with detectives focusing on abuse of office, theft, embezzlement, financial loss among other cases.
This is another major probe into the central bank, following last year, where officials were arrested and charged after newly printed currencies were reportedly flown from Europe into the country alongside other cargo.
While BoU’s contract with the printer stipulates that the money be chartered on a plane alone, when it arrived, authorities discovered that it had been delivered alongside cargo belonging to prominent businessmen in the country and some other organizations.
Consequently, Francis Kakeeto and Fred Wanyama – currency managers at Mbale and Kabale branches respectively, were arrested and charged with abuse of office and corruption.
The duo was punished for allowing unauthorized cargo to be carried on a BoU chartered plane carrying its consignment.
Charles Malinga Akol, the director for currency at the central bank, was also charged with corruption and abuse of office.
The trio has since denied the charges and been released on court bail.
