[2008-01-02]  Stanbic Bank Loses Sh50m From Van
THE Police are investigating circumstances under which doors of a bullion van flung open, tossing out two boxes containing about sh210m in northern Uganda, of which sh50m is still missing.

The incident, according to the Police, occurred as the van owned by G4S, a private security firm, carried Stanbic Bank's sh1b from Gulu branch to Kitgum.


Northern region Police chief Katureebe Arinaitwe said the incident occurred at Lacek-Ocot, a Pader district sub-county on Monday.

"The doors at the back where the money is kept opened suddenly and the money in boxes fell onto the carriageway," Arinaitwe told The New Vision.

One of the boxes contained sh160m, while the other had sh50m.

According to Arinaitwe, passengers of a commuter taxi moving in the same direction picked one box containing sh160m and delivered it to Kitgum Police post.

The second box with sh50m has not been recovered but the Police are optimistic that it will soon be recovered.

Five G4S officials who were in truck were arrested and detained at Kitgum Police post when they appeared to report the loss of the money.

They are the commander, John Isaac Oceng, driver, Valentino Akena, Martin Olupot Okello, Godfrey Omony and Thomas Ocen.

The G4S country director, Leon Jacobs, said the company had sent a senior manager from Kampala to investigate the case.

Jacobs, who did not rule out recovery of the money, added that insurance companies would compensate the bank.

Stanbic Bank and G4S are no strangers to such incidents. Just last week, the Rapid Response Unit of the Police disclosed that it had foiled a robbery attempt on bullion van carrying money along the same route. Six suspects were arrested.

In the past, there have been several robberies in which huge sums of money belonging to Stanbic Bank were stolen, mainly by guards employed by private security firms and the Police.


Source: Copyright © 2008 New Vision.