The newly appointed Deputy Governor of the Bank of Uganda, Prof. Augustus Nuwagaba, has assumed office following President Yoweri Museveni’s clearance.
Nuwagaba assumed office on Monday following his appointment and subsequent vetting. A source said several groups of people petitioned president Yoweri Museveni over his qualifications. They claimed that the Nuwagaba is not an economist and therefore does not qualify for office of the deputy governor. The president however ignored their pleas and cleared him.
On February 10, President Yoweri Museveni appointed Prof. Nuwagaba as the Deputy Governor of the Bank of Uganda, following the elevation of Dr. Michael Atingi-Ego from Deputy Governor to Governor of the central bank.
Upon his appointment, Dr. Atingi-Ego had already served as acting governor for three years. Both he and Prof. Nuwagaba appeared before the Parliamentary Appointments Committee, chaired by Speaker Anita Among, for vetting on February 11. The committee later submitted its report to the appointing authority.
However, despite completing the vetting process, sources indicated that Prof. Nuwagaba had not yet reported to office. The source within the Bank of Uganda revealed that employees at the central bank had neither seen Prof. Nuwagaba at the institution nor received formal communication regarding his appointment.
“The President must first formally write to the Minister of Finance, Matia Kasaija, regarding the appointment. The minister will then respond and issue an official letter confirming the appointment,” a Bank of Uganda staff member explained.
Prof. Augustus Nuwagaba is an international consultant specializing in economic transformation and wealth creation in Africa. He holds an MBA with a specialization in the application of central bank monetary policy on commercial bank competitiveness.
He has extensive experience in fiscal analysis, financial performance assessment, and tax policy review for African governments.
Currently, he serves as the Managing Consultant at REEV Consult International Limited, a private consultancy firm headquartered in Kampala, Uganda. Prof. Nuwagaba has played a key role in various international and regional initiatives. He was a consultant for the African Peer Review Mechanism under NEPAD and a member of the African Regional Panel of Experts on Development. Additionally, he is part of the World Bank Consultative Group, which developed the African Plan of Action.
His leadership roles include serving as the Team Leader for FINSCOPE – Financial Penetration Project (2013) and spearheading the development of the Financial Management and Training Manual for Parliamentary Accountability Committees. He has also been a member of the Audit Committee of the Ministry of Finance, Planning, and Economic Development of Uganda.
