Nine individuals were arrested yesterday, following a three-month investigation into the disappearance of USD 16 million (approximately UGX 60 billion) from the central bank’s coffers.
The nine were picked from the Ministry of Finance Accountant General’s Office.
The arrests, executed by the Criminal Investigations Directorate (CID) Uganda, mark a major crackdown on financial misconduct at the highest levels of government.
The saga began when internal auditors at the Bank of Uganda noticed a suspicious shortfall in foreign reserves.
The nine arrested include the Accountant General at Ministry of Finance, Lawrence Semakula. Other big fish are Jennifer Muhurizi, the Acting Director Treasury, Mubarak Nsamba, the Commissioner Treasury, and Deborah Kusiima, a senior accountant.
With USD 16 million unaccounted for, an urgent forensic audit was initiated, prompting the involvement of the CID.
The subsequent investigation uncovered deep-rooted fraud, insider collusion, and elaborate financial manipulations that facilitated the loss of public funds.
Some sources suggest that this could be part of a larger, well-orchestrated syndicate within the government, fueling speculation about who else might be implicated.
Uganda has been rocked with high-profile corruption scandals, but few have involved such huge sums of money directly vanishing from the national reserve.
This case reignites concerns over government transparency, institutional accountability, and financial oversight.
Netizens argue that such high-level fraud is only possible when systemic weaknesses and political protection exist.
As news of the arrests spread, public outcry has reached its pitch. Many Ugandans, already burdened by economic hardships, are demanding swift justice and full disclosure of those responsible.
The CID has promised more arrests, indicating that the investigation is far from over.
In a statement from the Ministry of Finance and Economic Planning, the Permanent Secretary informed the public that “some officers attached to the Accountant General’s Office were summoned to the CID to facilitate conclusion of the investigation.”
He added assurance to “everyone concerned that all our services, including those provided by the Accountant General’s Office are operating normally.”
The Accountant General’s Office deals with budget execution, procurement, fund releases, and financial oversight.
In November, 2024, local daily, Daily Monitor reported that President Museveni had directed the security apparatus of the state to investigate how money meant for clearance of debt to the World Bank and African Development Bank ended up in accounts of private companies in Tokyo and Japan.
