Friday, March 31, 2023
Home Top News BOU issues banknotes bearing new signature

BOU issues banknotes bearing new signature

by Editorial Team
0 comment

By Ali Twaha

There are new banknotes in circulation bearing the signature of the deputy governor Michael Atingi-Ego for the print year 2022, the Bank of Uganda (BOU) has announced.

Atingo-Ego has been the acting governor since the death of Prof. Emmanuel Mutebile. The 72-year-old died on January 23, 2022. 

The central bank periodically prints new banknotes and coins to meet public demand.

In a statement, BOU said: “The public is hereby advised that BOU has issued into circulation banknotes, in the various denominations, that bear the signature of the Deputy Governor Michael Atingi-Ego and the year print-2022.”

The BOU Act says, “the seal of the bank shall be authenticated by the signatures of the governor and the secretary to the board. In the absence of the governor, the deputy governor may sign in his or her place, and the person performing the functions of the secretary may sign in the absence of the secretary.”

BOU said the new signature “does not in any way affect the legal status of banknotes in circulation that bear the late Governor Mutebile’s signature” which are associated with the earlier years of print.

The value of the currency in circulation as at end of the quarter September was sh6.7 trillion compared to sh6.8 trillion in the previous quarter ending June.

On April 23, 2020, President Yoweri Museveni appointed Atingi-Ego to serve as deputy governor of the BOU.

You may also like