Uganda: Fact Check - No, President Museveni Has Not Launched an Investment Platform Paying Ugandans Millions Monthly

3 March 2026
Nile Post (Kampala)
By Dismiss Fact Check

Social media posts and sponsored adverts on Instagram and WhatsApp claiming that President Yoweri Museveni has launched a government-backed investment platform promising up to Shs 22 million per month or turning Shs 1 million into tens of millions within weeks is FAKE.

One advert, designed to look like a Daily Monitor news story, alleges that journalist Canary Mugume unveiled the scheme, supposedly backed by the Bank of Uganda.

This claim is a scam, the DisMis Fake News Desk has established.

No such investment has been announced by the State House, the Ministry of Finance, or any government agency.

The quoted statements attributed to President Museveni are fabricated and do not appear on his verified platforms, and there is no credible record of Canary Mugume launching or promoting any investment scheme, his name and image appear to have been used without consent.

The Bank of Uganda does not support or guarantee "quick-return" platforms and has repeatedly warned against schemes promising unrealistic profits using government impersonation. Claims of risk-free returns of this scale contradict basic financial principles.

The public has been urged not to register, invest, or share personal details; do not forward the message; verify programmes through official channels; report suspicious ads; and warn others.

There is no government-backed platform paying Ugandans millions monthly, if it sounds too good to be true, it almost always is.

Verdict: FAKE!

Read the original article on Nile Post.

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