The fraudster Abdu Karim admited before police at the Central Police station (CPS) in Kampala that he used the company’s money but the intention was not theft.

Karim says that he was going to invest the money and refund it afterwards but he was frustrated by the business when it failed.

Sources say that vigorous audit is now at Stanbic Bank head office and preliminary results show that Karim might have stolen over a billion shillings.

A worker at the bank says that the audit is not only about Karim but also to other employees to make a comprehensive report.

Last year the same bank lost about 700 million in related situation at its branch in Masindi town.

When asked about the loss of huge amounts of money at Stanbic Bank, Baluku Issa, a Finance Officer he said that the employees are taking advantage of the weak Internal Control System in the company.

“It is rear that Karim stole the 800 million on a single day therefore if the internal auditors were keen enough the fraud would have been discovered in its earlier stage” Baluku said.

Baluku says that as they pin Karim the company should also intensely audit the immediate office below and another above Karim’s office to check for connivance.

Stanbic Bank Uganda is a South Africa company and member of the Standard Bank Group.

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This innovation has been branded as “E-Water”. The Managing Director Dr. William Muhairwe says that customers can now pay their bills by mobile money, scratch cards, mobile banking and paying at recognized sale centers like supermarkets and fuel stations across the country.

Dr. Nathan Muhairwer, MD NWSC

He explains that the innovation is for accuracy and time saving for their customers who have been travelling distances looking for NWSC cash offices for only bills payments.

Muhairwe adds that most commercial banks in Uganda have been contracted to receive money on behalf of NWSC and that customers will be receiving messages on their phones for acknowledgements.

However, the Managing Director does not explain the fate of their workers who have been working as receiving cashiers at NWSC cash offices and others who will be affected by technology because of the phasing out of cash offices.

The participating baks where customers can pay for E-water so far are Bank of Africa, Standard Chartered bank, Barclays, Stanbic, Crane, Orient, United Bank for Africa (UBA), Eco bank, DFCU, National Bank of Commerce, Citi bank, KCB, Equity, Centenary, Diamond Trust, Global Trust bank and Post bank.

Customers are advised to call the National Water and Sewerage Corporation toll free contact phone at 0800100977 if they have any questions or concerns.

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The post National Water and Sewerage Corporation goes tech with E-water first appeared on Uganda Multimedia News & Information.