The Central Bank Deputy Governor Dr Louis Kasekende has Monday handed over instruments of office after expiry of his third term.
Kasekende’s contract expired on Monday, January 13, 2019.
By press time, the beleaguered official had handed over office to the Governor Prof. Emmanuel Mutebile after efforts to have President Yoweri Kaguta Museveni renew Kasekende’s contract hit a dead end.
Earlier a group of powerful catholic leaders, former government officials and Buganda kingdom bigwigs had in vain lobbied to have Kasekende’s term extended.
The Ministry of Finance, a custodian of Bank of Uganda earlier said it was waiting for a directive from the Presidency.
Having worked at the institution since 2009, his career has been damaged by allegations of dirty dealings in the closure defunct banks.
Kasekende on numerous occasions was cited by a number of investigators in the illegal sale or closure of five private owned banks.
His name was mentioned by the Auditor General and Parliament’s investigative committee- COSASE as having a hand in failing these financial institutions.
Kasekende, 61, first served as the deputy governor between 1999 and 2002. Before then, he had served in different capacities at the central bank –director of Research Department and executive director responsible for research and policy.
He moved on to work as chief economist of the African development bank from 2006 to 2009.