The Bank of Uganda (BoU) has advertised seven positions of directors and Executive Directors in a move that is aimed at cleaning the Central Bank that has been marred with several scandals in recent years.
The positions advertised include; Executive Director Information Technology, Executive Director Operations, Executive Director Non-Bank Financial Institutions, Director Human Resources, Director Financial Stability, Director Medical and Director Financial Markets.
Dated April24, 2020, the internal advert says eligible candidates should hold a minimum of a Bachelor’s degree in any of the relevant fields and a Master’s Degree in any of the relevant fields from accredited University.
Executive Directors should also have served for at least two years as directors while directors should have served as Head of Division for a minimum of two years.
“The Executive Director Designate or Director Designate shall take over from the retiring official on the day the latter officially retires,” the advert, signed off by Solomon O. Oketcho, Executive Director Administration, reads in part.
Reports indicate there’s fear among BoU staff given the ongoing changes at the Central Bank.
President Museveni recently appointed Dr Michael Atingi-Ego as the new Deputy Governor, Bank of Uganda (BoU), after he refused to renew contract of Dr. Louis Kasekende.
Following BoU probe by the Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) on the controversial closure and sell of seven defunct banks in 2018, Mutebile admitted the rot at the Central Bank and vowed to make grand reforms.
“The Bank acknowledges the relevance of this evidence and we are confident that it will enhance transparency and accountability which are key values [for the Central] Bank. This interaction has highlighted the shortfalls within our processes, policies and practices,” Mutebile said
He added: “I am confident that resulting from this process, we will review practices and policies in order to improve our capacity to perform the functions of the Central Bank better…The interaction with COSASE has so far helped us to expose some of challenges to the natural medicine of air and light so we can address these challenges better. Further changes will be done in due course in order to restore the Bank’s image.”
It should be noted that the 2019 Report of the Presidential Tripartite Committee instituted by President Yoweri Museveni to investigate the Bank of Uganda following a lot of governance issues queried BoU’s recruitment process.
This followed staff reshuffles at BoU. In a 7th February 2018 internal memo, BoU Governor Prof. Emmanuel Tumusiime-Mutebile communicated a number of internal staff transfers, promotions and appointments from outside the Bank.
During the reshuffle, Justine Bagyenda, the then Executive Director Supervision was retired for reportedly failing to execute her supervisory role.
The Governor communicated promotion of 12 staff at the Bank. Out of 12 staff promoted, nine were elevated from the rank of Senior Principal Banking Officer to the rank of Assistant Director.
Two staff w ere elevated to the rank of Director and one staff elevated to the position of the Executive Director.
“All five staff externally recruited by the Governor were therefore recruited outside of the known policies and procedures for recruitment at the Bank In all the cases for the externally recruited staff, there was no indication of acknowledgement of receipt of any of their applications by the Bank. As such, it was impossible to determine when and how exactly the applications were submitted to the Bank,” the report said.
It added: “None of the current board members were aware of the Governor’s decision prior to the communication made on 7th February 2018.”
Credit: businessfocus.co.ug
