FIA warns of illicit finance due to oil activities in Bunyoro

What the report says

The Financial Intelligence Authority has warned that fast-growing economic activity in Uganda’s Bunyoro sub-region, much of it linked to oil and gas development, could give criminals new ways to move or hide illicit funds. The Independent Uganda reported that FIA officials pointed to land deals, money lending, corruption in local governments, cross-border trade and smuggling as areas that may be vulnerable as investment expands.

Monica Ndyamuhimbise, the FIA principal compliance and outreach officer, said the rising flow of money in the region calls for closer scrutiny of transactions, especially where the source of funds is not properly checked. The article said she linked the concern to increased investor interest and broader commercial activity around the oil economy, while also noting that Bunyoro’s border proximity to the Democratic Republic of Congo can add exposure through trade and movement of goods and minerals.

The report did not cite a specific major laundering case in Bunyoro. Instead, it framed the issue as a set of risks that could emerge as the region develops. Hoima Resident City Commissioner Badru Mugabi said police reports already flag land grabbing, money laundering and corruption in local governments as concerns.

Jossy Muhangi of the FIA said suspected financial crime cases are referred to agencies such as the Uganda Revenue Authority, the Inspectorate of Government and the Criminal Investigations Directorate. He also urged journalists to rely on documents and other verifiable evidence when reporting suspected financial crimes.