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Bank of Uganda reassured the public that all bank notes it has issued are still legal tender.
The bank rushed to make the clarification on Wednesday following false claims which started circulating in the media, claiming that banknotes bearing the signature of the Late Prof. Emmanuel Tumusiime-Mutebile, the former Governor, expired or shall soon expire and cease to be legal tender.
The bank explained that the change of the office bearer or the demise of the person who signed on bank notes as Governor “does not in any way affect the validity or legal status of the banknotes that he/she signed.”
“The design, features, and characteristics of the currency banknotes, include among other things, the signature of the Governor,” the statement reads in part.
“The current banknotes remain legal tender until they are determined otherwise by the Bank of Uganda, which is the ONLY lawful authority entrusted with the mandate to issue currency banknotes.”
“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. All the denominations of the banknotes issued by the BoU and 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.”
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