KAMPALA- Innocent Ainebyona , a concerned citizen, a resident of Makindye ,Kampala district has petitioned the office of Deputy Governor Bank of Uganda requesting him to phase out the 50 Shillings Coin due to a number of reasons.
A photo of a Fifty Uganda shillings coin (Courtesy photo)
In his letter dated 29th November 29th 2023, received by the Deputy Governor’s office on the same date, Ainebyona contends that; it has lost its purchasing value due to inflation.
Secondly, is that it lacks general acceptability from the public and lastly is that it lacks the store value.
“ I await your response at your earliest convenience, though expediency will highly be appreciated from Ainebyona Innocent, your side given that time is of essence.” Reads part of the letter
This letter has come at a time when the said coin has reduced in circulation and ar the time when majority of the business people don’t allow it in any transaction which has rendered to be of less importance.
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