INVESTIGATION: BOU PAYMENT SYSTEM BREAKDOWN WAS AN INSIDE JOB

By our reporter

www.mknewslink.com

In Kampala

Ugandan security has unearthed a deliberate plan designed inside Bank of Uganda (BoU) to fail Real Time Gross Settlement System (RTGS) which forced the Governor Prof. Emmanuel Mutebile to suspend processing for large amounts and instituted investigations into the matter.

The RTGS crashed in July however; BoU later admitted to have experienced a temporary malfunction of the RTGS but refuted media reports that there was a system breakdown.

But BoU has never released report in relation to what led to the crash since the Governor had commissioned investigation

Following a series of scandals that have occurred at the Central Bank and presided over by top officials including theft of billions of old notes from eight currency centres that compelled Mutebile’s administration to suspend all staff of Mbale currency centre, security has since conducted deep throat investigations into the Bank of Uganda and the individuals sanctioning the mess.

An intelligence brief which this website is privy to reveals that the system malfunction at BoU was orchestrated by technical officials inside the bank and loyal to a certain clique of top administrators whose primary objective is to fail the Central Bank.

This website has further learned that more rampant failures of RGTS and SWIFT systems have since been occurring but that has been concealed.

“The failures are deliberate,” said source who was part of the investigations.

More so, the investigation reveals that this team of Bank of Uganda officials plans to weaken other commercial banks (save for the seven that were closed illegally) by sabotaging their operations hence affecting domestic and foreign trade.

Further, the plan involves manipulating the forex exchange, and financial sector fraud, money launder and cover ups, also recruiting undercover operatives in the ongoing recruitment of junior staff in BoU.

The recruitment exercise is spearheaded by officials from Buganda who claim that Westerners (Bakiga) have previously occupied dominated the Bank and its time they face exit.

It must be noted the Governor hails from Kabale in South Western Uganda. He is deputized by Louis Kasekende who wields a lot of power and has a huge faction of officials at the Central Bank loyal to him.

Kasekende recently travelled with a team of eight people to Rwanda to attend AFI Global Policy Forum.

While in Kigali, security has learnt that the team met Rwanda’s head of National Intelligence and Security Services (NISS) Lt. Gen. Emmanuel Karenzi Karake.

Security has since launched covert investigations to ascertain what was the basis of discussions between BoU staff and the lethal spy chief considering that some elements in Rwanda government were operating behind President Yoweri Kaguta Museveni’s administration.

we couldn’t independently verify this information.

Those who travelled to Rwanda include Awuma Makia (director national payments systems), Hannington Waiswa (director commercial banking), Jasinta Ining (representative of Margaret Kasule), Tilda Nabanja (a close associate of Kasekende Kasekende), Edward Teunya, George Isonko (communication department), Alex Ochan (assistant director in charge of financial inclusion) and Louis Kasekende.

www.mknewslink.com a greater western Uganda news website
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