The Bank of Uganda (BoU) has spoken out and confirmed how they are still “waiting” for a police probe on an alleged hacking incident in which an estimated $17m (UGx 62.4b) was stolen from the Treasury account.
According to trusted sources, BoU deputy director for communications, Dr Natamba Bazinzi, in response to inquiries by this publication said: “Bank of Uganda is waiting for the police report on the reported incident.”
Knowledgeable sources told the Monitor that a shadowy group of hackers calling themselves “Waste” based out of Southeast Asia had penetrated the Central Bank’s IT infrastructure firewalls and taken Shs62.4 billion. It is not clear whether the $17m is what the hackers were aiming for or it is what they found on the account.
President Yoweri Museveni has directed the Auditor General’s office to investigate allegations of a recent cyber heist at the Bank of Uganda (BoU). Hackers are reported to have stolen billions of shillings, with funds transferred to accounts in Asia and Europe. The Auditor General is tasked with determining the extent of the loss and coordinating with law enforcement to establish criminal liability.
A reliable source, speaking on condition of anonymity, confirmed the president’s instructions, emphasizing the urgency of the matter. The Bank of Uganda has yet to issue an official statement, and efforts to secure comments from its management remain unsuccessful. However, the probe is reportedly progressing swiftly, with senior officials expected to be questioned by the police and the Auditor General.
The investigation comes amid broader concerns over irregularities within the BoU, particularly in its procurement department. Allegations surfaced during the 2023 procurement process for the Bank of Uganda National Payments Switch (BNPS), where unscrupulous behavior reportedly undermined transparency.
The central bank has faced repeated scandals in recent years. Earlier in 2024, the Anti-Corruption Court in Nakasero sentenced Charles Kasede Ochieng, the former Head of Verification at BoU, to three years in prison. Ochieng was caught on camera stealing old currency notes intended for destruction, an act classified by the court as a grave abuse of his position.
The Bank of Uganda has been without a substantive governor since the death of Emmanuel Tumusiime-Mutebile in January 2022. This leadership vacuum has raised concerns about governance and oversight at the central bank, particularly as scandals continue to unfold.
