Home NATIONAL Bank of Uganda Speaks Out on Money Buried with Semwanga

Bank of Uganda Speaks Out on Money Buried with Semwanga


The Bank of Uganda has come out to clarify on the controversial issue about throwing money into a grave and eventually burying it.

The incident happened in Kayunga on Tuesday during the burial of popular businessman Ivan Semwanga who succumbed to coronary heart disease.

During his burial, Rich Gang members, a group which he led threw sums of money amounting close to Shs15 million to the grave where Semwanga was buried.

The actions have since attracted public criticism with many saying that it was against the laws of Uganda.

In a notice of motion seen by The Tower Post, a one Abbey Mgugu dragged the central bank and A Plus funeral Services to court over allowing Ugandan currency to be buried.

He demanded that “all the currency that was placed in the grave and buried along with late Ivan Semwanga’s body be removed by ordering the respondents to exhume the said late.”

But according to Bank of Uganda, “the money, which was so mishandled, is likely to be defaced, soiled or damaged, and thereby no longer serve the purpose for which it was intended.”

“The shilling deserves the status of a national symbol. This implies that our national currency should not be handled in a manner that is indecorous,” BOU officials added.

The Tower Post understands that there are no laws in Uganda prohibiting throwing money in the grave as a form of farewell  to loved ones although BOU urged the public to strongly refrain from any act.

“Proposed amendments to the Bank of Uganda Act include a clause that will criminalize any practices such as defacing, soiling, mutilation or other forms of disrespect to the national currency,” BOU added.

Previous articleRiek Machar Asks UN Security Council to Help Him Return to Juba
Next articlePHOTOS: How it Went Down at the ‘Ivan Semwanga Farewell Party’
Don Atungisa is a passionate writer, content curator and a digital marketing practitioner. Twitter??@don_atngz . Let's connect and have a chat.