Police in Kampala are holding four suspects in connection with the alleged theft of Shs118.8 million from a hardware shop employee at a bank branch in Nateete.
Kampala Metropolitan Police spokesperson Racheal Kawala identified the suspects as Shafik Ndaula, Ali Kiwalyanga, Michael Nsubuga and Brian Muyanga.
Kawala told New Vision that the case was registered at Nateete Police Station and that investigations were continuing.
Police have so far recovered Shs30 million believed to be part of the stolen money. Officers have also impounded three vehicles suspected to have been purchased using proceeds from the alleged crime.
Investigators are searching for the remaining money and any other suspects who may have participated in the operation.
Victim approached inside bank
According to preliminary investigations, the victim, whose name has been withheld, was sent by her employer to deposit Shs118,807,000 into the company’s account at a bank branch in Nateete on July 3, 2026.
She entered the banking hall, obtained a service token and waited for her turn.
While she was waiting, an unidentified man allegedly approached her and claimed that he wanted to exchange US dollars for Uganda shillings but did not have a National Identity Card.
The man reportedly asked the victim to use her identification document to complete the transaction on his behalf.
Believing that she was helping a genuine customer, the woman agreed.
Another man then joined them and pretended to assist with the proposed foreign-currency exchange.
The suspects allegedly persuaded the victim to take the purported US dollars to the teller while they held her bag, which contained the money she had been sent to deposit.
“An unidentified man approached her, claiming he wanted to exchange US dollars into shillings but lacked a National Identity Card and pleaded with her to complete the transaction using her own ID,” Kawala was quoted as saying.
“Believing she was helping a genuine customer, she agreed. Moments later, another man joined, pretending to assist with the exchange.”
Suspects allegedly led victim to Kabusu
The suspects allegedly convinced the victim to leave the bank with them after promising to reward her for assisting with the transaction.
They boarded a motorcycle and travelled to Kabusu, a Kampala suburb, where they entered a restaurant, reportedly to discuss the promised “appreciation money.”
The victim told police that she briefly stepped outside the restaurant, leaving her bag with one of the suspects.
When she returned, the suspects had disappeared.
The bag had been left behind, but the Shs118.8 million was missing. Police said it instead contained neatly arranged bundles of paper packaged to resemble genuine banknotes.
“The bag had been left behind, but the money was gone. Inside were neatly arranged bundles of paper carefully packed to resemble genuine cash,” the police report states.
Police did not immediately disclose how the four suspects were arrested or where the recovered Shs30 million and the three vehicles were found.
Investigations are continuing to recover the outstanding money and establish whether other people were involved.
Uganda Police’s 2025 Annual Crime Report recorded 7,364 cases involving stolen cash, with approximately Shs1.2 trillion reportedly lost.
The report also indicated that 1,145 suspects, including juveniles, were convicted in connection with cash theft cases.
Some thefts are carried out by organised groups using deception, while others involve suspects travelling on motorcycles and targeting people carrying large amounts of money.
A banker who requested anonymity advised customers carrying large amounts of cash to avoid discussing transaction amounts openly inside banking halls.
Customers were also advised to seek assistance from authorised bank employees, avoid surrendering money or personal identification documents to strangers and immediately report suspicious behaviour to bank security or police.
People depositing or withdrawing large amounts of money should consider requesting security assistance and avoid following strangers outside banking premises.