Bank of Uganda -BoU has frozen all the bank accounts belonging to Action Aid Uganda, a Non-Governmenta
All the five accounts including a Uganda Shillings account, US dollar, Pound Sterling and two Euro accounts are held at Standard Chartered Bank.
In a letter dated October 3rd, to the Managing Director of Standard Chartered Bank Uganda Limited, Louis Kasakende, the Deputy Governor Bank of Uganda explained that the Criminal Investigation Directorate (CID) of the police is investigating Action Aid International Uganda for alleged conspiracy to commit a felony and money laundering.
Kasakende listed five bank accounts belonging to the NGO held at Standard Chartered Bank which police CID is investigating.
Pursuant, to section 110 of the Financial Institutions Act, 2004, Kasakende directed Standard Chartered Bank to freeze all the listed accounts. “The accounts in question shall remained frozen until otherwise advised by Bank of Uganda,” reads part of the letter.
Arthur Larok, the country Director Action Aid Uganda, has confirmed that all their accounts have been frozen. He described the act as unfortunate and erroneous.
He asked the public to treat the allegations against ActionAid with the contempt they deserve. “Anyone with the slightest of understanding and knowledge about ActionAid’s work would know that the reality cannot be any farther from the truth.” He added: “We shall push back, together with our numerous partners the sad trend in our country that the allegations against ActionAid symptomise.”