State House Uganda has spoken out on reports that President Yoweri Kaguta Tibuhaburwa Museveni has appointed Prof. Augustus Nuwagaba as the new Bank of Uganda Governor.

Earlier, rumours made rounds on different social media platforms alleging that the President had appointed Prof. Nuwagaba to fill the vacant post last year following Prof. Emmanuel Tumusiime Mutebile’s death in January 2022.

Prof. Nuwagaba is an international consultant on economic transformation and a wealth creation expert in Africa.

However, according to the Deputy Presidential Press Secretary, Mr Faruk Kirunda, the news of Prof. Nuwagaba’s appointment is fake and should be treated with all the contempt it deserves.

“FAKE NEWS! It’s not true that Prof. Nuwagaba has been appointed BOU Governor. H.E @KagutaMuseveni knows his duty and when he makes such an appointment, it will be communicated officially,” Mr Kirunda said in a tweet on Sunday.

FAKE NEWS! It's not true that Prof. Nuwagaba has been appointed BOU Governor. H.E @KagutaMuseveni knows his duty and when he makes such an appointment, it will be communicated officially. FK

— Faruk Kirunda (@kirunda_faruk) July 2, 2023

He explained that President Museveni knows his duty and that when he makes such an appointment, official communication with be made.