Nine individuals have been arrested in connection with the Bank of Uganda (BoU) heist, in which billions of shillings were stolen from the central bank.
Authorities confirmed the arrests on Tuesday, marking a significant development in the ongoing investigation since the story broke in late 2024, prompting President Yoweri Museveni to order a probe into the matter.
The theft involved the misrouting of funds meant for international debt servicing payments. In two separate incidents, payments intended for the World Bank and the African Development Bank were redirected to private bank accounts.
On September 10, $6.134 million (Shs22.3 billion) was sent to a Tokyo-based account belonging to Roadway Company Ltd, while another payment of $8.6 million (Shs31.2 billion) was transferred to an account in London for MJS International.

Police spokesperson Kituuma Rusoke stated that all the suspects arrested are Ministry of Finance officials, apprehended by the CID Directorate as part of the ongoing investigation.
“We have been having an investigation into the billions of shillings that mysteriously disappeared. In the course of the investigation, we summoned nine officers from the Ministry of Finance. I wish to confirm that today- nine persons were apprehended.
“The arrests follow a detailed information systems audit report from PricewaterhouseCoopers (PwC) revealing that computer experts and accountants manipulated the government’s digital transaction portal to redirect the funds,” Rusoke said in a statement.
The first incident, involving the $6.134 million, occurred in September 2024, but it wasn’t until October that the World Bank flagged the late payment. Despite this, the Ministry of Finance did not immediately take action.
BoU Deputy Governor Michael Atingi-Ego clarified that the fraud was initiated outside the Bank of Uganda’s IT systems, and the investigation is ongoing.