With five months to closing its revenue collection account for this financial year 2022/2023, Uganda Revenue Authority (URA) has boasted of posting a 99.2% performance towards hitting its Shs25.5 trillion annual revenue target.

Presenting key highlights of revenue performance for the period starting July to December 2022 this morning, the URA Commissioner General, John Musinguzi noted that they collected only Shs11.6 trillion out of the targeted Shs11.7 trillion for the half year.

The revenue collections for the last six months thus represent 46.4% of the annual target with a slight shortfall of Shs94.8 billion.

“Whereas there was a slight shortfall of UGX 94.80 billion, the general performance was 99.19%. This performance also shows a substantial growth in revenue of UGX 1,506.83 billion (14.83%) compared to the same period last financial year 2021/22,” said Mr. Musinguzi.

Musinguzi has however revealed that in the same period, domestic tax revenue collections registered a surplus of Shs19.32 billion and a performance of 100.26%.

This is after the tax body collected Shs7.47 trillion against a target of Shs7.45 trillion.

“Direct domestic taxes registered a surplus of Shs84.74 billion, non-tax revenue posted a surplus of Shs171.08 billion while indirect domestic taxes posted a shortfall of UGX 236.50 billion,” he said.

Bank of Uganda (BoU), has transferred its staff at various currency centers around the country. The changes are reportedly done in a bid to minimize scandals.

The staff shakeup has taken place few weeks after some employees reportedly stole old bank notes that were meant to be punched and late destroyed.

According to daily monitor, Angela Kasirye Katete, the deputy director Corporate Affairs said the move is normal and it’s carried out from time to time as provided for in the BoU’s regulations and human resource policies.

Currently, BoU has nine branches and currency centres across the country and their purpose is to store, process and monitor the supply of currency to the government and private financial institutions in the surrounding cities, towns and villages.

Ms Katete said there 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 centers have also been ordered to review daily CCTV records and to ban food and drinks in counting rooms, among other guidelines.

City business man Sudhir Repaleria, has vowed to file a suit against central bank calling for accountability for assents and aunt of money that crane bank had before it was put under receivership.

Sudhir said earlier after the head of Commercial Court, Justice David Wangutusi, had dismissed multi- million case failed against him. BOU/Crane bank under receivership averred that the property mogul fleeced

Auditor general cannot account for Shs 290billion, somebody just stolen in the name of crane bank, I don’t think there is something new, everybody knows the Cosase came up with exposure, really I want to thank all the layers who have participated, really did the tremendous job and they are straight forward layers unlike conflicted layers like Lule who have connived with these people and the rest is history am not going into details.

My layers have done a tremendous job, Bruce, I think this is historical, nobody else in the past has been to take on central bank. They have stolen several banks but they didn’t accounted to the stake holders.

This is unfortunate scenario that you take someday assents, steal it, and profit it and you don’t account for it. This is ridiculous, how and then sue me for USD100million the money they have stolen.

What is the next step of action after this achievement?

We are now going to put a counter case. You know Cosase found a lot of things, they didn’t account for the cash in the bank, they did value our property, and the money was just stolen.

That is my ground father, the old man of the clan (Andrew Mwenda) come, I think you know the details of this case than anybody else.

Mwenda I as the old man of the Repaleria clan I fell am extremely very happy, even the first year student of law would could have seen this coming  because what central Bank did with Crane Bank is unacceptable. Public must never accept public institutions to abuse power the way they did with crane bank.

They (Bank of Uganda) literally closed a health Bank, they didn’t even sell its assets, but gave it free of charge to DFCU bank. Not only that, they even lend DFCU Money on interest free to buy Crane bank. I have never seen something like that.

Are you are that BOU gave DFCU Money to buy Crane Bank and then paid interest on the money they gave DFCU.

Sudhir: They (BoU) and lawyers connived and transferred bad book to Dfcu and they are the same layers who went to DFCU and start collecting money from the bad book.

Andrew surprised that BOU own shares in Dfcu bank

The story of crane bank is so interesting.