Kampala, April 15, 2026 — Centenary Bank has come under public scrutiny after freezing the account of a customer, identified as Agather Atuhaire, following what the bank says was a directive from a regulator.
In a public statement issued on April 14, the bank confirmed that the restriction was carried out “within the requirement of the law” and in compliance with instructions from its regulator, widely understood to be the Financial Intelligence Authority.
“We wish to inform the public that the bank’s action was within the requirements of the law following a directive by our regulator, who subsequently notified the customer of the same,” the bank said.
However, Atuhaire has strongly disputed the bank’s claim, insisting she was never informed about the account freeze.
“Again, no one notified me. Stop stating it matter-of-factly… it’s very annoying to try to gaslight me and evade responsibility,” she posted on X (formerly Twitter).
She added that it was the bank’s responsibility—not the regulator’s—to communicate directly with its customer.
“Secondly, it was your obligation to notify me as my bank,” she said, accusing authorities of acting “illegally and with impunity.”
Public backlash and questions raised
The incident has triggered widespread debate online, with legal and financial commentators questioning the bank’s communication practices.
“Why didn’t the bank inform its customer before or immediately upon freezing the account?” asked Kiiza Eron in an online post.
He further questioned why the bank appeared to suggest the customer had been notified when she claims otherwise.
Calls for a swift resolution have also emerged, with some arguing the customer may have already suffered undue inconvenience.
Regulatory compliance defended
Others have defended the bank’s actions, noting that financial institutions are legally bound to comply with regulatory directives, particularly in matters related to anti-money laundering and financial oversight.
Prof Venansius Baryamureeba said banks operate under strict supervision of the Bank of Uganda and cannot ignore such instructions.
“Centenary Bank is regulated by the Bank of Uganda. It cannot violate the standing instructions of the Bank of Uganda,” he said, adding that similar restrictions can apply even to personal accounts under certain compliance checks.
Political voices weigh in
The issue has also attracted political attention, with Winnie Byanyima criticizing the bank’s actions.
“Unacceptable! Centenary Bank are you listening?” she posted, urging the institution to uphold fairness.
Awaiting resolution
Centenary Bank has indicated that such matters are typically resolved “amicably” once all regulatory requirements are met, but has not specified when the account may be restored.
The case highlights growing tensions between regulatory compliance and customer rights, particularly around transparency and communication in Uganda’s banking sector.
