BoU Tightens Security At Branches After Police  Nabbed Managers  With Sacks Of Money

BoU Tightens Security At Branches After Police Nabbed Managers With Sacks Of Money

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By Andrew Irumba

Senior bosses at Bank of Uganda are in panic mode after police raided the BoU raided their Mbale branch and nabbed managers with sacks of money they were trying to smuggle out.

Following the scandal, BoU bosses have issued new security guidelines to safeguard against future raids like the scenario at the Mbale branch, which led to the arrest of senior managers.

In a memo dated September 02, 2019 issued by Bazinzi Natamba, Acting Director for the Directorate of Currency, all Branch Managers across the country have been given strict Security measures to adhere to henceforth.

Here below is Natamba’s memo;

The Memo

The Memo comes a few days after three staff of Bank of Uganda in Mbale were arrested in a deadly covert joint operation by the police and army as they tried to smuggle sacks of money that was meant to be shredded.

Our Spies established that the three are reportedly part of the racket in Bank of Uganda that smuggle out money which is supposed to be destroyed and instead return it into circulation in the economy.
However, their luck ran out after a combined team of security operatives from police, intelligence and military stormed the currency centre after a tip off from an internal informer.
The operation was conducted after the Financial Intelligence Authority(FIA) learnt that it had become norm for money which was supposed to be destroyed to be ferried outside the bank and shared amongst top staff.

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