Mutebile’s Demise Does not Affect Status of Banknotes: BOU

The demise of Prof. Emmanuel Mutebile Tumusiime, the late Governor of Bank of Uganda doesn’t affect banknotes bearing his signature, the central bank has clarified.

“The change of the office bearer or the demise of the person who signed banknotes as Governor does not in any way affect the validity or legal status of the banknotes he or she signed,” a statement from the bank reads.

This follows public speculation and information circulating on social media claiming that the banknotes bearing the late Mutebile’s signature have expired following his death. Currently, all currency notes bear the signature of the late Mutebile who died on January 23, 2022.

In the February 2, 2022 letter, the Central bank clarifies that the current banknotes remain legal tender until determined otherwise by the Bank of Uganda, which is the only lawful authority entrusted with the mandate to issue currency banknotes.

The bank urged the public to disregard the false information that is circulating on different platforms claiming that the banknotes bearing the signature of the former Governor expired upon his demise.

“All the denominations of the banknotes issued by the Bank of Uganda bearing the signature of the former Governor remain legal tender and can be used to carry out cash transactions, settle financial obligations and give monetary value,” the bank concluded.

Prof. Mutebile, a seasoned professional economist served as the Central Bank Governor and Chairman of the Board of Directors since 2001. He met his death shortly after starting a new term of office for which he was reappointed in 2021.
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