A major leadership change at the nation’s central bank has occurred with the appointment of Michael Atingi-Ego as the new governor of the Bank of Uganda and Augustus Nuwagaba as deputy governor by President Yoweri Museveni.
Sandor Walusimbi, a presidential spokesman, confirmed the appointment on Monday.
He pointed out that Atingi-Ego had previously served in a prominent capacity at the central bank before departing and coming back in 2020 as Deputy Governor.
Read also: Mastercard expands footprint in East Africa with new office in Uganda
Having held a top post at the central bank before returning as deputy governor in 2020, Atingi-Ego has significant central bank experience to the office.
He has been acting governor since 2022 when Emmanuel Tumusiime-Mutebile passed away.
Professor Augustus Nuwagaba appointed as BoU’s deputy governor
Professor Augustus Nuwagaba, a specialist in economics from Makerere University, was appointed as the Deputy Governor of Bank of Uganda.
He brings a combination of academic and real-world experience to the deputy governor position, having previously served in Uganda’s finance ministry and as the head of the consulting firm Reev Consult International.
In charge of Uganda’s monetary authority, these appointees combine academic knowledge with institutional experience.
The appointments await parliamentary approval.
Read also: LemFi expands to Europe, offering Nigerians zero-charge cross-border payments
BoU’s heist under Atingi-Ego as acting governor
While Atingi-Ego was acting governor of BoU, the central bank was under cyberattack from hackers last year, who reportedly broke into the bank’s IT infrastructure and stole $17 million (Shs62.4 billion).
The issue sparked dual investigations by the Criminal Investigations Department (CID) and the Auditor General leading to the arrest of some high ranking officials of Bank of Uganda and Ministry of Finance.
As the acting governor, Atingi-Ego blamed the heist on a breach of computer automated systems at the central bank and Ministry of Finance.