Bank Notes With Late Governor Mutebile’s Signature Are Still Valid- BOU Clarifies

Bank Notes With Late Governor Mutebile's Signature Are Still Valid- BOU Clarifies

By Uganda Online Media

Kampala: Bank of Uganda has assured the general public that all banknotes it has issued with late governor Mutebile’s signature are still legal tender and the public should use them.

Following the death of Prof Emmanuel Tumusiime Mutebile who was the governor, reports circulated on various social media platforms alleging that all banknotes bearing his signature will soon expire and cease to be legal tender.

However, in a statement released on Wednesday, the bank of Uganda noted that the reports are baseless and not true.

“The change of the office bearer or death of the person who signed on banknotes as governor doesn’t in any way affect the validity or legal status of the note he or she signed,” BoU said in a statement.

“The public is advised to disregard the false information that is circulating on different media platforms claiming that the banknotes bearing the signature of the former governor expired upon his demise,” BoU added.

The Central Bank explained that the design, features, and characteristics of the banknotes include among others the signature of the governor, adding that the current banknotes remain legal tender until they are determined otherwise by BoU which is the only institution authorized with the mandate to change currency banknotes.

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

Uganda has banknotes in six denominations including 1000, 2000, 5000, 10000, 20000 and 50000.

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