This week, scandal-riddled Bank of Uganda and particularly the currency department as well as the Mbale currency centre are back in the negative limelight.
In the same week the Central Bank lost its UGX397bn case against city businessman, Sudhir Ruparelia and his Meera Investments, largely over incompetence, CEO East Africa Magazine has learnt that all of the central bank’s Mbale Currency Centre staff have been suspended following a lengthy investigation that implicated them in theft of old currency notes.
The notes are meant to be destroyed and new ones introduced, but it appears the Mbale staff, took advantage of the absence of Charles Malinga Akol, the director of currency at Bank of Uganda and that of Francis Kakeeto, the assistant currency director Bank of Uganda (BoU) Mbale branch to dip their hands into the old currency vaults.
Malinga is accused of failing to collect the consignment and instead he delegated his juniors to fly to France and bring the consignment that came with other items that did not belong to BoU. His juniors were charged with abuse of office and alternative corruption.
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Following the investigation, several officials at the bank have been sent home, pending an even deeper investigation.
BoU has been in the news lately over several supervision and governance issues.
