Bank of Uganda Governor Emmanuel Tumusiime-Mutebile has in a surprise move made changes at the Central Bank, sacking the flamboyant Executive Director in charge of Supervision, Justine Bagyenda.
In a memo to all staff, Prof. Mutebile has instructed Ms Bagyenda to process her handover pending retirement.
The memo announces Dr Tumubweine Twinemanzi as the replacement for Ms Bagyenda. Dr Twinemanzi joins the Central Bank from Uganda Communications Commission (UCC) where he has been the Director Industry Affairs and Content (Economic Affairs).
Ms Bagyenda, one of the longest-serving staff at BoU had lately came under scrutiny following allegation of poor supervision of commercial banks, the most outstanding being the closure of Crane Bank, which was closed last year.
Late last year a security report pinned Uganda’s super-rich Minister of Foreign Affairs for hatching a plan to take over the now defunct Crane Bank, with details describing it as an inside job carried out by among other people Ms. Bagyenda, without the knowledge of her boss, Prof. Emmanuel Tumusiime-Mutebile.
And, in an interview after the dramatic collapse of Crane Bank, Prof. Mutebile admitted to weaknesses in the supervision department of the Bank of Uganda.
“I would say sorry but I shall keep my position which is that I accept responsibility but I am not criminally culpable in as much as I am sorry for what happened,” Mutebile was quoted as saying in the interview.
Mutebile’s blame sparked a lot of criticism against Ms. Bagyenda, with bribery and corruption allegations emerging.
Recently, while was appearing before Parliament’s Committee on Communication and Technology to explain Mobile Money operations within telecom companies Ms Bagyenda allegedly used foul language while answering questions from the MPs.
The MPs, who were seeking clarifications, were left unsatisfied with Ms. Bagyenda’s answers, prompting Samia Bugwe North legislator Gideon Onyango to label her an ‘arrogant’ woman. At the time she was the Acting Deputy Governor.
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Meanwhile, other changes saw Mary Katarikawe appointed as Executive Director Operations while Joyce Okello is the new Executive Director and Personal Assistant to the Governor.
Richard Mayebo has been appointed Executive Director Risk and Strategic Management.
Other Executive Directors are Phillip Wabulya (Petroleum Investment Fund), Elliot Mwebya (Information Technology) and Deborah Kabahweza (Finance).
David Kalyango will serve as the Internal Auditor.
Mutebile also released a list of new Directors: Dr Charles Abuka (Statistics), Dr Kenneth Egesa (Fianncial Stability), Valentine Ojangole (Banking), Olive Kamuli (Medical Administrator), Mackay Aumo (National Payments Systems).
Director in charge of Communications Christine Alupo has been transferred to head the Board Affairs Department, and has been replaced by Charity Mugumya.
Hannington Waswa will take charge of the Commercial Banking Department while Ben Sekabira is the head of Financial Markets Development Coordination.
Edward Mugerwa is now the new director IT Operations Department.