Kampala, Uganda: After a full year, President Museveni has not appointed the new Governor of the Central Bank of Uganda (Bank of Uganda) to replace Late Governor Emmanuel Tumusime Mutebile and his signature remains alive on the currency structure of Uganda’s banknotes.
Mr. Mutebile died at the start of this year in Nairobi Hospital after leading Bank of Uganda as Governor for 20 years, and since then Central Bank Governor position has been vacant.
Since January of this year (2022), Michael Atingi-Ego, the Bank of Uganda’s Deputy Governor has led the central bank since Prof. Mutebile’s death.
The Bank of Uganda Act of 1966 stipulates that the Governor and Deputy Governor of the central bank shall be appointed by the President of Uganda with the consent of the Cabinet, and both shall be appointed for a period of five years and shall be eligible for reappointment.
However, the Act is silent on the period within which, in the event of death, the President can appoint the next Governor. For now, Ugandans will still have to wait for that to happen because only President has the ultimate answer.