7 February 2018

Uganda: Bagyenda Replaced As BOU Makes Changes in Senior Positions

The Central Bank has made sweeping changes in its top management, with staff rotation affecting eight executive directors, 13 directors, 24 assistants/deputy directors and four staff confirmations.

Ms Justine Bagyenda, who has been the executive director supervision will be replaced by Dr Tumubweine Twinemanzi who will be joining the team from Uganda Communications Commission (UCC) where he has been serving as Director Industry Affairs and Content (Economic Affairs).

Ms Bagyenda is about to retire and as such, she has not been appointed to any other docket.

According to a memo that this reporter has seen, the new changes, which take immediate effect, are in line with the policy on staff rotations.

Some of the executive directors who have been transferred include Ms Mary Katarikawe who is the new executive director Operations, Ms Joyce Okello who has been appointed executive director and personal assistant to the governor, Mr Richard Mayebo made the new executive director risk and strategic management and Mr Philip Mwebya who has been made the new executive director Information and Technology. Others are Mr Philip Wabulya who has been appointed the new executive director Petroleum Investment Fund, Ms Deborah Kabahweza executive director Finance and Mr David Kalyango who is the Chief internal auditor.

The other directors transferred include Ms Christine Alupo who was previously Director in charge of Communications but transferred to head the Board Affair Department. She is being replaced by Charity Mugumya. Other directors include Dr Kenneth Egesa (Fianncial Stability), Dr Charles ABuka (Statistics), Mr Mackay Aumo (National Payments Systems), Valentine Ojangole (Banking), Olive Kamuli (Medical Administrator).

In November last year, a group of people tried to force their way into the Bank of Uganda building to demand the arrest and prosecution of the Director of Supervision, Ms Bagyenda.

Holding placards, the group demanded president Museveni to intervene and order an inquiry into Ms Bagyenda's conduct claiming the banking sector was vanishing because of her "incompetence."

"President Museveni come out and save the banking sector. It is varnishing," one of the placards read.

The group members, however, managed to escape from security officers who tried to arrest them.

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