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Bank of Uganda recovers UGX 30 billion of stolen money, more cash still missing 

Micheal Atingi- Ego, Bank of Uganda Deputy Governor

Bank of Uganda Deputy Governor, Micheal Atingi-Ego has exclusively revealed that it has recovered USD 8.2 million (UGX 30 billion) of the UGX 52 billion that was lost in a debt servicing transaction to the World Bank and the African Development Fund. Mr Atingi-Ego was responding to questions concerning the recent claims of a hack into BoU’s payment systems at the reading of the Monetary Policy Statement for December 2024.  The payment transactions in question included a payment to the World Bank of US$6,1 (UGX 22 billion), which was instead paid to Roadway Co. Limited through MUFG Bank of Japan…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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