Kampala, (UG):- Police’s Criminal Investigations Directorate (CID) Tuesday detained the Accountant General along with seven officials from the Ministry of Finance and the Bank of Uganda amidst ongoing investigations into the disappearance of $16 million (approximately Shs60 billion) from the Central Bank of Uganda coffers.
Sources within law enforcement told DailyExpress that the suspects (whose identities were still undisclosed by press time) have since had their cases transferred to Nateete Police Station and Kira Division Police for further processing and interrogation.
While an official statement was yet to be released by the CID or the Ministry of Finance, insiders affirmed to this publication that the investigation is centered around suspected fraudulent transfers and mismanagement of funds intended for key national financial programs.
We have also established that forensic audits are too, underway, to trace the missing funds, with authorities currently examining records of recent transactions and internal approval processes at the Central Bank and the Ministry of Finance.
A high-ranking CID official, who spoke on condition of anonymity, emphasized that more arrests could follow as investigators scrutinize multiple layers of financial operations and documentation.
The arrest of senior financial officials has sparked widespread concern, with financial analysts warning of the potential impact on the country’s economic stability. Civil society organizations have called for transparency in the investigation and swift measures to restore public trust in Uganda’s financial institutions.
As the probe continues, the public awaits a formal statement from the relevant authorities to clarify the circumstances surrounding the missing funds and outline steps to prevent future occurrences.
This story is developing!
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