A number of Ugandans on social media have been contesting the validity of paper notes with the late Emmanuel Tumusiime Mutebile’s signature which some say are no longer legal tender.
This prompted the Central Bank to issue a statement dismissing the claims and clarifying that the notes are still valid. According to the statement, “Change of a governor or their demise does not in any way affect the validity or legal status of the banknotes he/she signed.”
Commenting on the same, The Fatboy Show Presenters Fatboy and Olive Najjuma disregarded the rumors.
Fatboy thought they were impractical and said, “In different countries, some currency notes bear faces of their late presidents. People love dollars but all the presidents appearing on them are dead, the Lincolns and Franklins.”
“I think the problem is not the face but the signature,” Olive said, adding that, “Every governor has their signature on the notes but his demise doesn't necessarily mean it's no longer legal tender. I believe the Central Bank will eventually phase out the notes with his signature but it will take time because how many notes do we have in circulation?” she asked.
Fatboy agreed that when a new governor is appointed, it usually takes time and could even be years before banknotes with their signatures are phased out. He cited examples of previous governors such as Suleiman Kiggundu who served from (1986-1990) and Charles Kikonyogo from (1990-2000) who had noted which had their signatures yet continued to stay valid, even after their deaths.
Olive then said that probably the need for people on social media to present themselves as intelligent is what led to the formulation and circulation of the rumors. “You know everyone wants to sound smart and intelligent on social media, but honestly, do you know the governor’s signature? Do you even care?” she teased.
“The important thing is not whose signature is on the legal tender but that you even have the notes in the first place. Do you have the money? Worry about that, not about whose signature is on it,” Fatboy joked.
The Fatboy show is hosted by James Onen aka Fatboy, Olive, Sarah and Lesham every weekday from 6am to 10am on RX Radio.
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