Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, has appointed Godfrey Ssemugooma as the Acting Accountant General.
He replaces Lawrence Semakula, who was arrested and charged along with seven other officials from the Ministry of Finance and Economic Development in connection with a Shs 62 billion fraud scandal at the Bank of Uganda (BoU).
According to BoU Governor Martin Ating-Ego, the stolen funds were originally intended for the World Bank and the African Development Fund but were misdirected in two major transactions:
September 12, 2024: $6,134,137.75 meant for the World Bank was instead sent to Roadway Co. Limited via MUFG Bank, Japan. September 28, 2024: $8,596,824.26 intended for the African Development Fund was wrongly transferred to MJS International, London, UK.
By December 2024, BoU had recovered $8,205,133.84 from MJS International and credited it to the Consolidated Fund. Efforts are ongoing to retrieve the remaining $391,660.45.
Ggoobi stated that, in accordance with Section F-S of the Uganda Public Service Commission Standing Orders (2021) and Regulation 38 of the Public Service Commission Regulations (2009), nine officers from the Accountant General’s office who have been formally charged were interdicted effective February 7, 2025, pending further investigation and court proceedings.
He emphasized that these actions reflect the Ministry’s commitment to upholding compliance and accountability while allowing due legal processes to unfold.
“To ensure business continuity, I have assigned key treasury functions to senior officers, with Godfrey Ssemugooma serving as Acting Accountant General. These changes took immediate effect. I urge the public to support this process and refrain from spreading misinformation regarding the ongoing investigations and our operations,” Ggoobi stated.
