Louis Kasekende Breaks Silence On BoU 90Bn Saga, Says ‘Mutebile Is Head Of Printing

Bank of Uganda Deputy Governor, Dr. Louis Kasekende has broken the silence about the reported extra Shs90bn currency printed by Central Bank officials for their own use.

While in Masaka for BoU Town hall Meeting on Wednesday, many people asked Kasekende for clarification on the ongoing investigations by the Uganda Police and sister investigative agencies regarding the recent shipment of Uganda currency consignment.

“…Unfortunately, the matter has progressed to court and any detailed discussion on the specific merits of the issue might be construed to be contempt of court processes. However, permit me to say the following. Currency printing like many of the work processes in the Bank of Uganda is subject to very rigorous processes with inbuilt controls for checks and balances,” Kasekende said.

He added: “Those deliberate checks at various levels including the Currency Policy Committee headed by Goverrnor himself, coupled with a strong and independent audit function have overtime been robust enough to maintain the integrity of our currency operations.”


That notwithstanding,  Kasekende said, Bank of Uganda Management re-affirms its commitment to cooperate with all  arms of the state to fully investigate any breach of its operating procedures, either by the staff or procured partners.

“The outcomes of these investigations shall be used to re-assess and further buttress our processes whose unquestionable integrity is central to the successful pursuit of BOU’s core mandate.  Let me also reteriate Governor Mutebile’s message, that there was no extra currency printed outside the amounts that he approved through the requisite processes,” he said.

Kasekende was representing the Governor, Prof. Emmanuel Tumusiime-Mutebile, who he said, was unable to join the discussion due to other equally important engagements outside Uganda.


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