All The Banknotes Issued By Us Are Legal, Bank Of Uganda to The Public

All Banknotes Issued By Us Are Legal – Bank Of Uganda To The Public

Posted by: Suubi Anne in Uganda news February 3, 2022

Bank Of Uganda has assured the public that there is no problem with the Banknotes with Mutebile’s signature. Bank Of Uganda says all the notes issued are still legal tender therefore the public should not shy away from using them.

Rumors have been circulating that every note with the late Mutebile’s signature is now null and void. This is apparently because he is no longer governor and even passed away.

“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.

Bank Of Uganda clarified this in a statement they released on Wednesday. They encouraged the public to disregard any information that says the bank notes are yet to expire.

“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 former governor remain legal tender and can be used to carry out cash transactions, settle financial obligations and give a monetary value.”

The central bank explained that everything on the note is legal until they themselves deem it illegal. As of now, there is nothing to worry about. Uganda notes start from 1000, 2000, 5000, 10,000, 20,000, and 50,000.

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