The Criminal Investigations Directorate (CID) has arrested eight top ministry of Finance and Bank of Uganda officials over missing funds from the Central Bank.
According to reports, funds worth $16 million (approximately Shs60 billion) were frauded from the central bank, and authorities are investigating this disappearance.
According to sources familiar with the case, the detained officials include a senior accountant at the level of Accountant General (identity protected) and seven other officials from the ministry and BoU. These have been arrested to aid in the ongoing investigations. Sources disclosed that their case files have been transferred to Nateete Police Station and Kira Division Police for further processing.
The specific roles of the arrested individuals in the alleged financial mismanagement remain unclear.
Authorities have yet to issue an official statement on the arrests, but CID sources confirm that investigations are still underway to establish how the funds vanished. The missing money has raised concerns over financial oversight within the country’s key financial institutions, prompting calls for accountability and transparency.
The Ministry of Finance and the Bank of Uganda have not publicly commented on the arrests or the missing funds. However, financial experts and civil society organizations are urging swift action to ensure those responsible are held accountable.
This case adds to a growing list of corruption scandals in the country, further fueling public frustration over the management of public funds. Investigators are expected to provide further updates as they piece together the circumstances surrounding the disappearance of the money.
This is a developing story.
