Four Remanded in Prison Over Attempted Fraud of Enid Kukunda’s Billions at Stanbic Bank
KAMPALA – In a case that has exposed a sophisticated fraud scheme, four individuals, including a Rwandan national, have been remanded to Luzira Prison for attempting to steal 725 million Shillings from a Stanbic Bank account belonging to Enid Kukunda. The case takes a complex turn as Kukunda herself has been publicly implicated in a separate scandal involving 2.5 billion Shillings in unauthorized loans from the state-owned Microfinance Support Centre (MSC).
The Court Appearance and Charges
The four accused—Joel Mucunguzi, a driver from Entebbe; Mbabazi Elizabeth, a Rwandan businesswoman residing in Buddo; Faridah Kobusingye from Kampala; and Flower Njawuzi, also known as Florence Mega Kanywani, a businesswoman from Wakiso District—were presented before Senior Principal Grade One Magistrate Nicholas Aisu at the KCCA City Hall Magistrates Court.
They face a series of serious charges under the Penal Code Act, including:
· Forgery
· Uttering false documents
· Personation (impersonation)
· Conspiracy to defraud
· Attempted theft
All four entered pleas of not guilty.
The Elaborate Fraud Scheme
According to the prosecution, led by State Attorney Mercy Yamangusho, the accused conspired with other accomplices still at large to target Kukunda’s account at the Stanbic Bank Acacia Mall branch in Kampala.
The prosecution’s records detail that on October 3, 2025, the group forged a Ugandan National Identity Card in Enid Kukunda’s name, complete with her National Identification Number (CF690801029W6F) and card number (010400773). Armed with this forged ID, Mbabazi Elizabeth allegedly presented herself at the bank as the legitimate account holder, submitting a falsified withdrawal slip bearing a forged signature to authorize the transaction for 725 million Shillings.
The scheme began to unravel when alert bank officials noticed irregularities in the transaction. Their suspicion led them to flag the activity and subsequently alert the authorities, which resulted in the arrest of the suspects before any money could be withdrawn.
Ongoing Investigations and Suspects at Large
State Attorney Yamangusho informed the court that investigations are ongoing and that security agencies are actively pursuing other members of the suspected fraud syndicate. Court documents name Sarah Nankumba and Emiriat Emmanuel as additional accomplices who are believed to have participated in preparing the forged documents and remain at large.
While the precise source of the inside information is not yet officially confirmed, investigations suggest the gang may have received assistance from Stanbic Bank staff to access the client’s confidential account details. The prosecution successfully requested a remand for the accused to allow for further inquiries. Magistrate Nicholas Aisu granted this request, ordering the four to be detained at Luzira Prison until October 29, 2025, when the case will be mentioned again in court.
The Complex Background of the Alleged Victim
This fraud case is further complicated by the recent history of the alleged victim, Enid Kukunda. She has been named in media reports as one of the individuals accused of obtaining illegal loans from the Microfinance Support Centre. Public records indicate that Kukunda reportedly received 2.5 billion Shillings in loans without proper approval.
This controversy prompted Uganda’s Finance Minister, Matia Kasaija, to halt the lending scheme in question and issue a directive that the MSC should only provide loans to Small and Medium-sized Enterprises (SMEs) and SACCOs. It is currently unclear whether the attempted fraud against Kukunda’s bank account is in any way connected to the scandal surrounding the MSC loans.
