MINIMIZING SCANDALS: BOU TRANSFERS STAFF IN MAJOR SHAKE UP

By our reporter

www.mknewslink.com

In Kampala

Bank of Uganda (BoU) has transferred several staff at its currency centres around the country as a measure to minimise risks and strengthen internal controls in the currency operations that were recently hit by scandals as some staff stole old notes that were meant to be destroyed.

BoU has 9 branches and currency centres, that store, process and monitor the supply of currency to the government and private financial institutions in the surrounding cities, towns, and villages.
The branches also ensure that new banknotes are circulated in all the geographical regions of the country.

Explaining the new transfers, Ms Angela Kasirye Katete, the deputy director, corporate affairs, who is currently acting as the director of communications, confirmed what she called “normal transfers” but did not disclose the names of the affected people since some officials rejected the transfer.

Currency department, according to Bank of Uganda website, is responsible for the designing and ordering of banknotes and coins to meet the country’s demand; this is one of the main functions of the department.
The staff transfers, however, came after BoU issued new rules regarding access of cash rooms at currency centres whose unspecified cash was reportedly stolen at its Mbale centre.
The guidelines were issued early this month after they suspended some staff at the centre following allegations that some of them were arrested by security operatives while trying to sneak out old notes.

Ms Katete explained then that there were allegations of pilferage involving cancelled stock at Mbale Regional Branch and that the Bank was conducting internal investigations to ascertain the veracity of the allegations.
“BoU instituted internal investigations into the currency operations at Mbale Regional Branch and these are in advanced stages. When completed the Bank will take the necessary steps accordingly,” she said.

Under the new guidelines, note examiners acquire permission to access another currency branch other than the one they work for.
Currency centres have also been ordered to review daily CCTV records and to ban food and drinks in counting rooms, among other guidelines.

www.mknewslink.com a greater western Uganda news website
Email: wmuhwezi75@gmail.com
Tel: +256702680106