The Bank of Uganda's Deputy Governor Dr. Michael Atingi-Ego has attributed a Shs 50 billion loss to a breach of computer automated systems at both the central bank and Finance ministry.
Speaking to the Committee on Commissions, Statutory Authorities, and State Enterprises (Cosase), The Lender's Chief said that the funds were released through an automated system following approval from unnamed Finance ministry officials.
However, Cosase chairperson Medard Ssegona challenged the claim of no human involvement, insisting that human verification is necessary in the process and demanding identification of responsible individuals.
The matter, first raised by Opposition Leader Joel Ssenyonyi, has prompted parallel investigations by both the Auditor General and Criminal Investigations Department (CID), with junior Finance minister Henry Musasizi acknowledging the hack while disputing the reported amount.
The committee has requested copies of communications between the central bank and Finance ministry, with Bank of Uganda official Jacob Opolot, who oversees the automated system, scheduled to appear before the committee for questioning.
As we reported earlier, The Bank of Uganda (BoU) is investigating a reported cyber heist where hackers, allegedly from a Southeast Asian group called "Waste," breached the central bank's IT infrastructure and allegedly stole $17 million (Shs 62.4 billion) from the Treasury account.
The incident, which occurred approximately two weeks ago, has prompted President Yoweri Museveni to direct the Defence Intelligence and Security (DIS) to take over the investigation from the Criminal Investigations Directorate (CID), while the bank has engaged a top audit firm to assess the extent of the breach and recommend new controls.
The incident raises concerns about cybersecurity at Uganda's central bank, particularly given the leadership vacuum created by the absence of a substantive governor for almost three years, with Dr. Michael Atingi-Ego serving simultaneously as governor, deputy governor, and BoU chairperson.
Sources suggest possible collusion between BoU staff and officials from the Ministry of Finance's Treasury department and Accountant General's office, though Ministry spokesperson Jim Mugunga has expressed skepticism about such a large sum being compromised.
This breach comes despite the bank's recent efforts to strengthen cybersecurity, including a workshop conducted last May in collaboration with the Macroeconomic & Financial Management Institute of Eastern and Southern Africa (MEFMI).
