Emmanuel Tumusiime-Mutebile, deceased BoU Governor. FILE/COURTESY

The Bank of Uganda has said the passing of Prof. Emmanuel Tumusiime-Mutebile, does not affect the validity of banknotes bearing his signature.

Currently, all currency notes bear the signature of Mutebile who died on January 23, 2022 and speculation has been rife that the banknotes bearing the late Governor’s signature have expired following his death.

But in a statement issued on February 2, 2022, the Central bank clarified 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 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,” the statement from the bank reads.

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 added.

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.