The parliament’s appointment committee has today vetted the newly appointed Bank of Uganda Governor, Michael Atingi-Ego and his deputy, Prof. Augustus Nuwagaba.

In brief remarks, the two Bank of Uganda leaders expressed their readiness to focus on achieving economic stability, regulating the financial sector, and controlling inflation during their tenures.

This took place at Parliament earlier today.

Following their appointment into office as Governor and Deputy Governor respectively, Michael Atingi-Ego and Prof. Augustus Nuwagaba made an appearance before the parliament’s appointment committee chaired by the speaker, Rt. Hon. Annet Anita Among at Parliament.

It should be noted that the appointment of the Central Bank governor comes at the time when the institution deals with unease following last year’s heist in which the bank lost over 50Bn to wrong beneficiaries.

Speaking to the media after vetting, newly appointed Governor Michael Atingi-Ego mentioned his interest in seeing that the issue of cybercrime is addressed in order to restore the safety of the banking system.

With inflation being a great factor in the global economy, the substantive BoU bosses assured the country of its stability in controlling inflation.

It is realized that Uganda’s financial depth at GDP is low with the economy at low way which is not the case for Uganda’s economic activities.

The governors gave strategies that can be pushed including reduced borrowing that can enable the country achieve economic stability, and proper financial sector regulation.

Governor Michael Atingi-Ego had been deputizing the role since March 2020 when he was appointed, and his full occupancy of the Central bank head comes three years after the death of former governor Emmanuel Tumusiime Mutebile.

Prof. Augustus Nuwagaba on the other hand is a renowned economist and consultant on economic transformation, coming in with expertise beneficial to the central bank’s leadership team.