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Bank of Uganda has announced that seven of the aging directors will be retired to pave way for recruitment of new new ones in a move seen as clean the bank from scandals.

BoU has issued an internal advert for positions of seven positions of executive directors and directors within the institution.

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The central bank says employees have been invited to apply, and the opportunities for promotion are restricted to only them.

BoU is searching for two executive directors; the one for Information Technology (EDT) and that for Operations.

The requisite academic qualifications for candidates are must have at least two years of experience serving substantially at the rank of director within the bank.

The other five directors being sought are  director Financial Markets, Medical Administration, Olive Kamuli, director Non-Bank Financial Institutions (DNBFI), director Financial Stability, and Human Resources. Other vacant positions are  director of currency and economic advisor to the governor.

To qualify to be a director, according to the advert, one must have served as Head of Division for a minimum of two years.

In the advert undersigned by Mr Solomon O. Oketcho, the Executive Director Administration at BoU, only a maximum of five candidates shall be presented for oral interviews by the board.

“If the shortlisted candidates are more than five, written leadership and management test shall be administered and a maximum of five successful candidates shall be shortlisted,” the advert further said.

The day for submission of applications shall be May 22.

BOU Cleans up 7 Directors

In February Eagle Online  ran a story where International Monetary Fund cautioned government to retire senior servants at BoU in public interest.

Governor Emmanuel Mutebile was among those who the IMF report says should be retired or never retained. However, it was reported that Mutebile had refused to make the report public as he was among those being mentioned.

According to sections of the leaked report which a source at BoU had seen, several directors who are currently holding offices have been recommended for sacking or retirement in public interest.

The directors listed are head legal services, Margaret Kasule, Benedict Ssekabira, the director of Financial Markets Development Coordination (FMDC), Director Statistics Charles Abuka, Director Medical Administration, Olive Kamuli, Director Financial Markets, and David Sajjabi. Others are director Administrative Services plus a host of deputy directors.

However, this created created panic at the central bank saying the report is biased as it only affects those directors who are said to have forged their age.

Eagle Online has learnt that just last week, there was a bitter exchange between the governor and one of the lawyers brought in to defend those accused for falsifying the age.

Parliament in 2018 recommended that contracts of the governor Emmanuel Tumusiime Mutebile and his deputy, Dr Louis Kasekende should not be renewed, the report of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has recommended. However, Kasekende’s contract expired and wasn’t renewed.

The report, which was tabled in Parliament last year by Abdu Katuntu, the then chair, accused the top management of the central bank of mismanaging the sale of seven commercial banks, including that of Crane Bank.

Other officials that COSASE wanted to be held culpable are Benedict Ssekabira, the director of Financial Markets Development Coordination (FMDC), Justine Bagyenda, the former executive director for Commercial Banks supervision; and Margaret Kasule, the legal counsel.