BoU Breaks Silence On New Currency Notes Bearing Deputy Governor’s Signature

The long serving Bank of Uganda governor Prof Emmanuel Tumusiime Mutebile died on 23rd January 2022 aged 72 years at Nairobi hospital in Kenya. He was announced by dead by his deputy Dr Micheal Atingi Ego.

Since his demise, president Museveni has not replaced Mutebile and things seem to be fine at the Central bank which continues to execute it’s duties regardless of the absence of the top boss, deputy governor Micheal Atingi Ego is the one currently in charge of the Bank of Uganda.

Between the lines and corridors of power, no one even knows why Museveni has kept the position of Governor vacant 14 months after the death of Mutebile despite the need to have a central bank boss given the trying economic hurdles that the country faces.

There has been worry about whose signature will appear on the new currency notes since the old one’s that Mutebile signed on as Bank Governor would at some point get old and wear off. The notes normally bear signature of the governor and that of the secretary.

There however been bank notes in circulation bearing signature of the deputy governor Micheal Atingi Ego, worry not, they are legal according to the central bank.

According to Bank of Uganda in a statement today, the new currency bearing the deputy governor’s signature are legal tender with the year of print 2022 are. The central bank further says that the old notes bearing Mutebile’s signature will also continue circulating and the public should continue using them.

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“The public is hereby advised that BoU has issued into circulation bank notes, in the various denominations, that bear the signature of the Deputy Governor Mr. Micheal Atingi-Ego and the year of print-2022. This does not in anyway affect the legal status of bank notes in circulation that bear the late governor Mutebile’s signature which are associated with the earlier years of print. These bank notes will continue to be issued in circulation alongside those bearing the signature of the deputy governor. The public is therefore advised to continue using all the bank notes to make make and/or receive payments”- reads part of the BoU Statement

THE DIFFERENCE IN THE TWO SIGNATURES

Apologies: Here is the complete holding statement. pic.twitter.com/CqrsZBDc3Q

— Bank of Uganda (@BOU_Official) March 16, 2023

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