Economy



By NASSIWA HANIFAH

The Anti-Corruption Unit of State House headed by Lt Col Edith Nakalema raided Bank of Uganda and arrested five officials for printing their own money.

The operation involved the Chieftaincy of Military Intelligence [CMI], Internal Security Organisation [ISO], and members of the regular police force.

It is reported that the officials have been printing money off the official approved figures and the unit impounded Shs60bn as evidence.

The money entered Uganda through Entebbe airport well printed and was transported using Bank of Uganda currency vans to the Central Bank and reaching Kampala then some money disappeared on the streets of Kampala for circulation.

Bank of Uganda team months ago traveled to German aboard a chartered airplane to bring back the printed cash from German where the Ugandan shilling is printed.

The team was led by Dr. Barenzi, the deputy director in charge of operations who represented Charles Malinga Akol, BoU’s Executive Director Operations.

Dr. Barenzi and another officer allegedly printed money to a tune of uganda Shillings 90bn in excesses and used some of it to buy goods that were as well loaded into the chartered plane.

At Entebbe, two officials stashed the Shs90bn into their own vehicles and drove to the bank of Uganda.

The directors are now detained at CMI headquarters in Mbuya.

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