By Sekaggya Seka Moses
Mbale, Uganda – In a shocking incident, police in the Elgon sub-region are investigating the discovery of fake notes amounting to over Shs500m in the vault of the government-owned Post Bank at Mbale Branch.
According to sources, the incident occurred when a bank staff member pulled out a bundle of cash from the vault and brought it to the counter, raising questions about the authenticity of the cash.
The counterfeit cash was found to be in bundles of Shs50,000, with genuine notes covering the fake notes.
The Elgon Region’s Police Spokesperson, Rogers Taitika, confirmed the incident and stated that the case is still under investigation.
“The bank officials, after discovering the counterfeit money, reported the case and investigations are ongoing. Each bundle had genuine notes covering the fake notes. There’s a loss of money worthy Shs500m or more,” Taitika revealed.
Post Bank’s head of marketing and communications, Priscilla Akora, stated that the bank has handed over some of its officers to aid with the investigation, as per bank procedure.
“This is normal procedure when such an incident occurs and should not cause any alarm,” Akora said.
“As per bank procedure, we handed over some of our officers to aid with the investigation. This is normal procedure when such an incident occurs and should not cause any alarm,” said Ms Priscilla Akora, the head of marketing and communications at post bank.
The police investigation has led to the arrest of some bank staff to aid in the investigations.
The Elgon police spokesperson, Mr Rogers Taitika when contacted on Saturday confirmed that the case is now before courts of law.
Its is also learnt from police, that the former operations manager handed over office to his successor on October 28 and told him that there was money worth sh 500million in the vault.
It is alleged that the new operation Manager has also been relieved of his duties and is currently under investigation.
However, when contacted for a comment, the new operations officer said: “I travelled. Approach the bank .They will give you information.”
Mr Moses Wandera , the head of distribution channels for the eastern region, who is the current caretaker of the Mbale branch, declined to comment when contacted
SOURCE: Daily monitor
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