How Shs 60 billion Fraudulent Payments Were Initiated and Executed at Bank of Uganda
In 2024, the country witnessed a significant financial fraud involving $21,013,562.31 (Shs 77.1 billion) at the Bank of Uganda (BoU). This fraud led to the arrest and charging of officials from the Ministry of Finance, including the Accountant General and seven others. Six of them were however released on bail.
Uganda losses over Shs 70 billion annually in commitment fees- Auditor General
Uganda has been paying more than Shs 70 billion annually in commitment fees on loans over the past six years, according to the newly released Auditor General’s report. A commitment fee is a charge imposed by lenders on unused credit lines or un-disbursed loans. The report reveals that over the
