Breaking: Seven BoU Directors Fired

The Bank Of Uganda has fired over Seven directors in an ongoing investigation which established that some of them were involved in fraud, mismanagement of office, and embezzlement of funds with the Ex -Deputy Governor Dr. Louis Kasekende and Ex Executive Director of Operations Justine Bagyenda.

In an internal memo linked to this website, we’ve established that the Central Bank directors are not recruited yet but positions have been announced.

According to an internal memo, powerful Directors sacked are the..

1) Executive Director Information Technology (EDT)

2) Executive Director Operations (EDO)

3) Director Non-Bank Financial Institutions (DNBFIl)

4) Director Medical (DM)

5) Director Human Resources (DHR)

6) Director Financial Stability (DFS)

7) Director Financial Markets IDFM)

Below is an internal memo which reads…

Bank Of Uganda

Date: 24 AprIl 2020

All Staff

MEMORANDUM

Internal Advertisement for Positions of Executive Directors and Directors

Applications are invited from suitably qualified candidates for the vacant positions/positions due to fall vacant as follows:

1) Executive Director Information Technology (EDT)

2) Executive Director Operations (EDO)

3) Director Non-Bank Financial Institutions (DNBFIl)

4) Director Medical (DM)

5) Director Human Resources (DHR)

6) Director Financial Stability (DFS)

7) Director Financial Markets IDFM)

The corresponding Job Descriptions are herewith attached.

The following criteria will apply:

a) In the case of the positions of Executive Director, eligible candidates shall be Staff who:

• Hold a minimum of a Bachelor, Degree in any of the relevant fields

• Hold a Master, degree in any of the relevant fields from an accredited University.

• Have served substantively at the rank of Director for a minimum of 2 years

• Satisfy the person specifications stated in the job description of the position being applied for.

b) In the case of the positions of Director, eligible candidates shall be Stall who:

• Hold a minimum of a Bachelor’s Degree in any of the relevant fields.

Hold a Master degree in any of the relevant from an accredited University.

• Have served substantively as Head of Division for a minimuna of 2 years.

• Satisfy the person specifications stated in the job description of the position being applied for.

c) For each vacanct position, a maximum of five candidates shall be presented for  oral interviews by the Board. If the shortlisted candidates are more than five, a written leadership and namagement test shall be administered and a maximum of five successful candidates shall be shortlisted.

d) The written leadership and management test shall be administered by an external institution with experience in the capacity building and executive Selection.

c) The successful candidate may be appointed designate any time when the incumbent is still in the office.

Thc Executive Director Designate or Director Designate shall take over from the refiring official on the day the latter officially retires.

Interested candidates stould submit their applications to the Ditector Human Resources through the BoU l-Recruitment Module of the HRMS not later than 22nd of May 2020.

Bank Of Uganda Memo to all staff reads in part

BoU has since come under the spotlight after the closure of seven commercial banks of which Crane Bank Ltd was one of them, with parliament’s committee on Commissions, State Authorities and State Enterprises (COSASE) and the Auditor General faulting BoU officials for not following the established guidelines and procedures when closing the bank.

Crane Bank was Fraudulently sold on phone to DFCU Bank in January 2017 at a cost of Ush200 billion ($52.8 million).

Details to follow in our next report

1 Comment

  1. Hope maurishia on

    We appreciate efforts by Uganda police to curb crimes, injustice, and et al although arresting an RDC without clearance from the office president is insubordination in case the arresting team did not have clearance since he is the head of district security and represents the president in his/her jurisdiction. I stand to be corrected if I am wrong……..

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