During the 1970s and 1980s the Bank suffered, along with the rest of Ugandan society, from political and economic turbulence and the breakdown of governance. Our first Governor, Dr. Joseph Mary Mubiru, was abducted and murdered in 1971, a fate he shared with tens of thousands of his fellow citizens. We honour his memory every year with the Joseph Mubiru Memorial Lecture.
During the years of turbulence, many staff of the Bank of Uganda strove bravely and tirelessly, against numerous obstacles, to keep the Bank functioning properly for the welfare of all Ugandans. The second half of the Bank’s 50 years of existence has undoubtedly been more propitious than the first.