The Directorate of Criminal Investigation and Crime Intelligence (CID) has launched an extensive investigation into the disposal of old bank notes at the Bank of Uganda (BoU).

Although it’s a practice to discard old bank notes at Bank of Uganda, the CID has picked interest in Investigating some officials in charge of this activity after it was suspected that they have been pocketing some of the money meant for destruction.

According to our reliable information, one of the officials is Charles Ocheng Kasedde, who until August of 2019 headed Treasury at BoU’s unit in Mbale.

Police Criminal Investigations Department Spokesperson Charles Twine confided to this Online Publication that Kasedde was arrested, as he is suspected to have been involved in the disappearance of notes due for disposal.

Mr. Twine said that the Central Bank administration had earlier detected fraud, which prompted them to fire Kasedde.

When contacted BoU Spokesperson Charity Mugumya declined to comment on the matter, without offering reason but she promised that she would call back after consulting.

However, according to Twine, detectives examined CCTV footage, which showed Kasedde carrying loads of cash at one time.

It’s now estimated that close to  Ugx 400 million meant to be discarded has been lost through such schemes and nvestigators are also looking into wealth obtained by Charles Ocheng while still working at the bank and his case file is already at the Directorate of Public Prosecution for scrutiny.

The CID spokesman said more officials have been put on the spotlight, with detectives focusing on abuse of office, theft, embezzlement, financial loss among other cases.

This is another major probe into the Central Bank, following last year officials were arrested and charged after newly printed currency was flown from Europe into the country alongside other cargo.

While BoU’s contract with the printer stipulates that the money be chartered on a plane alone, when it arrived, authorities discovered that it had been delivered alongside cargo belonging to prominent businessmen in the country and some other organisations.

Consequently, Francis Kakeeto and Fred Wanyama, who are currency managers at Mbale and Kabale branches respectively, were arrested and charged with abuse of office and corruption.

The duo was arrested for allowing unauthorized cargo to be included on a plane carrying BoU goods because they were involved in pre-shipment inspections.

Charles Malinga Akol, the Director for currency at the Central Bank, was also charged with corruption and abuse of office.

However all these have since denied the charges and been released on bail.