Auditor General Flags BoU Fraud, Excess UMEME Payout and Uganda Airlines Challenges
The Auditor General is scheduled to present the 2025 audit report to the Speaker of Parliament, Anita Among, with special audits into the operations of Uganda Airlines, the Shs 60 billion Bank of Uganda (BoU) money heist, and the verification of the UMEME buyout payout dominating the report. The development
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
