Bank of Uganda Enhances Security Posture Following Incidents

Governor Michael Atingi-Ego of the Bank of Uganda (BoU) has assured Parliament that the institution has bolstered its internal controls following several security incidents. Appearing before the parliamentary committee on Public Accounts (COSASE), chaired by Hon. Muwada Nkunyingi, Atingi-Ego confirmed that a thorough review of the bank’s security protocols had been conducted.

The central bank governor addressed concerns stemming from reported incidents, which included the disappearance of laptops and allegations of system breaches. “We have looked at them and where there are any perceived weaknesses, we have strengthened them. And we are confident in that,” Atingi-Ego stated. He clarified that one of the alleged hacking incidents was, in fact, a case of fraudulent payments rather than a cyberattack.

While Atingi-Ego declined to publicly detail the specific new controls, citing the need to avoid revealing vulnerabilities to potential adversaries, he offered to share sensitive information with the committee during an in-camera session. This discussion occurred as COSASE examined the BoU’s financial statements for the fiscal year ending June 30, 2025.

The committee also raised other issues, including concerns about loan terms, high recovery charges, account manipulation, and the accessibility of complaint resolution mechanisms. MPs criticized the current complaint box system as inadequate and urged the bank to implement a more direct and effective process for public grievances. Additionally, legislators called for a stronger regulatory stance against commercial banks accused of mistreating customers and pressed for better borrower protection against aggressive recovery practices.

Source: Parliament of Uganda