Bank of Uganda explains variance in governor Mutebile’s signature

Social media users had questioned the authenticity of a letter that bore a different signature from the one on bank notes.

What you need to know:

  • Crane Bank, Mutebile, said, was “a significantly undercapitalised institution” and the Central Bank had taken a decision to appoint a statutory manager who would continue running the affairs of the mid-tier lender without interruptions.
  • In 2010 the Central Bank revised it minimum capital requirement to Shs25b, below which any bank cannot be allowed to continue operating.

The Central Bank on Thursday clarified that the variance in the governor’s signatures on bank notes and official documents was no cause for alarm because they were both authentic.
Some people, the Central Bank said in a Twitter message, “have observed two different signatures by the governor [Emmanuel Tumusiime Mutebile]. Both are authentic; one for documents and the other specifically for banknotes”.
Social media users had questioned the authenticity of a letter that bore a different signature compared to the one on bank notes.

Bank of Uganda Governor Emmanuel Tumusiime-Mutebile at a recent function. FILE PHOTO


The clarification came hours after the Central Bank had suspended Crane Bank top management where Mutebile said the takeover would have no bearing on the daily operations of Uganda’s third largest bank by assets.

Crane Bank, Mutebile, said, was “a significantly undercapitalised institution” and the Central Bank had taken a decision to appoint a statutory manager who would continue running the affairs of the mid-tier lender without interruptions.
“Crane Bank will remain open and its operations will continue normally, under the management and control of Bank of Uganda,” Mutebile said in a statement issued after the takeover.
In 2010 the Central Bank revised it minimum capital requirement to Shs25b, below which any bank cannot be allowed to continue operating.