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TodayTuesday, April 28, 2026

Bank of Uganda (BOU)

Bank of Uganda faces scrutiny after cancelling the National Payments Switch tender, raising concerns over transparency, influence peddling, and procurement integrity. Allegations of favoritism and government interference spark debate on fair competition and financial sector governance in Uganda.

Allegations Of Influence Peddling And Bidder Favoritism As Bank Of Uganda Cancels Multi-Billion National Payments Switch Procurement Post-Award

The Bank of Uganda (BoU) has come under intense scrutiny following its abrupt cancellation of the National Payments Switch (BNPS) procurement process. This move has raised significant concerns over transparency, security, and
March 4, 2025
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5 Justices of Appeal/Constitutional Court Irene Mulyagonja, Egonda-Ntende, Elizabeth Musoke, Muzamiru Kibeedi and Cheborion Barishaki anonymously ruled that allowing BoU to indiscriminately freeze bank accounts while shielding it from being sued for doing so was unconstitutional and ordered the Attorney General to harmonise all laws to give only courts powers to freeze accounts.

Constitutional Court bars Bank of Uganda from indiscriminate freezing of customer bank accounts without a court order

The Constitutional Court has outlawed Section 118 and 124 of the Financial Institutions Act (2004) which previously gave the Bank of Uganda uncontrolled and unaccountable powers to freeze bank accounts held in
September 15, 2021
Mutebile was lauded for restoring the economy of Uganda, ravaged by long periods of instability in 1970s and 1980s, through rigorous economic reform programmes

Mutebile gets reappointed as BoU Governor― but what are some of the numbers underpinning his two-decade reign?

News coming in from the President’s Office indicate that President Yoweri Kaguta Museveni has in line with Article 161(3) of the Constitution of the Republic of Uganda, reappointed Prof. Emmanuel Tumusiime Mutebile
January 18, 2021

 

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