Published on 02/12/2024
Government confirmed a cyberattack on the Bank of Uganda revealing funds had been stolen from its accounts. Officials dismissed media claims that UGX62 billion was lost, calling the figures exaggerated. Investigations are underway to determine the extent of the breach and recover the stolen funds.
Henry Musasizi, the Minister of State for Finance, made this revelation during a parliamentary plenary session early this week. Responding to a query by Joel Ssenyonyi, Leader of the Opposition, Musasizi confirmed the hack but insisted the reported figures were inaccurate.
“Our accounts were hacked into, but not to the extent of what is being reported. We instituted an audit and an investigation. The Auditor General is conducting the audit, while the Criminal Investigation Department (CID) is investigating,” Musasizi stated. He urged Parliament to await the completion of these processes before further disclosures.
Musasizi declined to provide specific details about the heist, cautioning that premature statements might lead to misinformation. “To avoid misrepresentation of facts, I seek the indulgence of this House to remain patient. When the audit and CID investigations are finalized, I will report back,” he added.
Opposition Raises Concerns
Ssenyonyi’s inquiry followed widespread media reports alleging that US$17 million (UGX62 billion) had been stolen from the Central Bank, with claims of an insider conspiracy involving BoU employees. He described the revelations as alarming and demanded greater transparency from the Ministry of Finance.
“It is critical to understand what is happening at the Central Bank. Whether the theft was orchestrated by hackers or insiders, the government’s silence on such matters is troubling,” Ssenyonyi emphasized.
Ssenyonyi also pressed Musasizi to reveal the actual amount stolen and provide a timeline for the audit and investigations. “If the reported figures are inaccurate, what are the correct figures? When will Parliament receive the findings?” he asked.
In response, Musasizi assured lawmakers that the audit and investigations would be completed within a month and a detailed report would be presented to Parliament.
Call for Interim Disclosure
Ibrahim Ssemujju (Kira Municipality), Shadow Minister of Finance, criticized the government for its handling of the incident. “A responsible government issues interim statements to reassure the public while investigations are ongoing. You can share critical information without compromising the inquiry,” Ssemujju argued.
Speaker Anita Among halted further debate on the matter, citing the potential risk of jeopardizing ongoing investigations. She directed the government to table a comprehensive report once the audits and investigations are finalized.
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