BURUNDI · CENTRAL BANK
Key Facts
- —What is happening The watchdog OLUCOME says the sum at stake in the Burundi central bank theft is about 2.4 million euros (about US$2.7 million), not only the 814,957 euros (about US$914,000) the bank admitted.
- —Why it matters Burundi has an official exchange rate and a far weaker black-market rate, so any central bank loss of hard currency hits an economy already short of dollars.
- —The numbers The bank admitted 814,957 euros (about US$914,000, or BIF 2.75 billion) stolen in 2024 and not recovered; the 2.4 million euros equals about BIF 8.1 billion at the official rate and is unconfirmed.
- —Who is who The BRB is Burundi’s central bank, OLUCOME is an anti-corruption watchdog led by Gabriel Rufyiri, and Regideso is the state water and power utility whose name appeared on the documents.
- —What to watch Watch whether the BRB answers the claim of about US$2.7 million, publishes its statement or names suspects, and whether Burundi and Poland report progress; no date has been announced.
- —What it means for you No US company or bank is named, but the case matters to anyone who sends money to Burundi, trades there or follows Burundi’s governance record.
A Burundian watchdog says the central bank lost about three times more than it admitted. The higher figure is not confirmed.
The Burundi bank theft admitted in September may be nearly three times larger than the central bank said. The watchdog OLUCOME says about 2.4 million euros (about US$2.7 million) is at stake, against 814,957 euros (about US$914,000) acknowledged.
The independent Burundian outlet Iwacu put the higher figure back in the news in an editorial on Friday, 23 October 2026. The Bank of the Republic of Burundi (BRB), the central bank, had not replied by Burundi Times’ report of Wednesday, 21 October.
What the Central Bank Has Admitted
The BRB spokesperson, Bellarmin Bacinoni, acknowledged in September that 814,957 euros (about US$914,000) was stolen in 2024. Breaking Burundi, LIONWEEK and Burundi Times reported the admission between 26 and 30 September.
Iwacu quotes the bank as saying that computer criminals accessed an account at a Polish partner bank. The criminals simulated payment of an invoice for equipment ordered by Regideso, and the money passed through Poland, China and Hong Kong.
Burundi Times reports that the breach was detected only after the funds had moved. The bank alerted the judicial authorities and the police, and Bacinoni said steps were taken to block part of the money.
The bank says the money has not been recovered, and no suspect has been named. Neither Burundi nor Poland has given a detailed account of the attack.
Who OLUCOME and Regideso Are
OLUCOME is the Observatoire de lutte contre la corruption et les malversations économiques, a Burundian anti-corruption watchdog. Its president, Gabriel Rufyiri, speaks for a civil society group, not for investigators or a court.
Regideso is Burundi’s state water and electricity company. Its director general, Jean Albert Manigomba, said on Friday, 25 September that the theft took place but no money left Regideso’s accounts.
He added that Regideso bought no equipment in Poland, according to Breaking Burundi and LIONWEEK. That leaves open who produced the documents that carried the utility’s name.
What OLUCOME Now Claims
At a news conference on Thursday, 24 September, Rufyiri said false Regideso documents were used. He said more than 800,000 euros (about US$900,000) was withdrawn from a Polish bank that works with the BRB.
At a second news conference on Monday, 19 October, OLUCOME raised the figure to about 2.4 million euros (about US$2.7 million). Iwacu’s editorial quotes Rufyiri as saying it is not 814,000 euros (about US$910,000) but 2.4 million euros, or even more.
Iwacu says the transfers began in 2024 and relied on fake purchase documents for equipment. The money went to entities that have not been identified, the editorial says.
Burundi Times describes the extra sum differently, as an amount reportedly due to be withdrawn and sent abroad. It says the allegations could not be independently verified.
The Polish Trail and a Year of Delay
OLUCOME says the Polish embassy in Dar es Salaam wrote to Burundi’s foreign ministry on Wednesday, 7 May 2025. It says the matter reached the justice ministry only on Monday, 20 July 2026, more than a year later.
The letters have not been published, so that timeline is OLUCOME’s account alone. No Polish statement is publicly available, and the Polish bank and the recipient of the money have not been named.
OLUCOME also says a small part of the money returned to state coffers, according to an Iwacu newsletter of 20 October. That sits uneasily with the bank’s statement that nothing has been recovered.
Why the Burundi Bank Theft Matters
The BRB’s official mid rate on 23 October 2026 is BIF 3,012.08 per US$1 and BIF 3,376.98 per euro. At those rates 814,957 euros is about BIF 2.75 billion (US$914,000), and 2.4 million euros is BIF 8.1 billion (US$2.7 million).
Iwacu says the sum is worth over BIF 14.4 billion on the black market, where most foreign currency ends up. That is about US$4.8 million only at the official dollar rate, so treat it as Iwacu’s estimate.
Iwacu’s editorial calls the system porous and asks whether insiders helped the thieves. That is the newspaper’s opinion, and no investigator has said so publicly.
What It Means for US Readers
No US company, bank or official is named in any of the reports. The money moved in euros through Poland, China and Hong Kong, so there is no direct US exposure in what is known.
The United States is the IMF’s largest shareholder, but no report links this case to the Fund or any lender. A theft at the bank that holds the country’s foreign currency may still draw scrutiny.
For traders and remitters the lesson is practical, because by the bank’s own account a fake invoice opened a Polish account. Travellers should expect no change to entry rules and can check the State Department advisory.
What Is Not Known
It is not confirmed that 2.4 million euros (about US$2.7 million) was taken, as OLUCOME and Iwacu say, rather than only planned. Burundi Times could not establish whether the full sum moved or whether it is linked to the first case.
The dates differ between accounts, from one theft in 2024 to withdrawals over four or five months. The BRB statement quoted by Iwacu was not found among the communiques on the bank’s website on 23 October.
It is not known who made the documents, who received the money, or how much was blocked or returned. Iwacu also says the postal service was visited by the same hackers, but gives no detail and no second outlet confirms it.
What Comes Next
No date has been announced for a BRB reply, a public inquiry or a court case. Burundian and Polish investigations are reported to be continuing.
A larger figure from a watchdog is not proof of a larger theft. Confirmation would need the bank, the justice ministry or Polish prosecutors to publish figures.
Frequently Asked Questions
What did Burundi’s central bank admit?
It acknowledged that 814,957 euros (about US$914,000) was stolen in 2024 through a cyberattack involving a Polish partner bank. The bank says the money has not been recovered.
Is the US$2.7 million figure confirmed?
Not yet, because the figure comes from OLUCOME on 19 October 2026 and was repeated by Iwacu. The bank had not replied by 21 October.
Who is OLUCOME?
It is Burundi’s Observatory for the Fight Against Corruption and Economic Malpractice, led by Gabriel Rufyiri. It is a civil society watchdog, not an investigating authority.
Was Regideso’s money stolen?
Regideso’s director general says no money left the utility’s accounts and it bought no equipment in Poland. The bank says the stolen money was its own.
Does this affect US travelers or investors?
No US company is named, and nothing in the reports changes entry rules. Investors in Burundi and senders of money there should watch whether the central bank publishes its findings.
Sources: Iwacu, editorial "La banque centrale saignée…", 23 October 2026; L’Essentiel d’Iwacu, 20 October 2026; Burundi Times, 21 October 2026; Burundi Times, 30 September 2026; Breaking Burundi, 26 September 2026; LIONWEEK, 29 September 2026; Bank of the Republic of Burundi, exchange rates of 23 October 2026; (all accessed 23 October 2026). Conversions use the BRB official mid rates of 23 October 2026: BIF 3,012.08 per US$1 and BIF 3,376.98 per euro (about US$1.12).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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