Former Governor of Bank of Uganda, Gideon Nkojo breathed his last week, a family source revealed.
Nkojo served as Governor during the reign of Godfrey Bikongwa Binaisa
“He was an elderly man and has been ill for a long time. He has rested on Friday last week. He lived in the USA almost all his life,” a source revealed.
Nkojo was son to the late Yosiya Nkojo, a former prime Minister in the Tooro Kingdom.
In April 1979, ministers: Ephraim Kamuntu (commerce), Akena p’Ojok (power) and Anthony Ocaya (planning) recommended to President Yusuf Lule to appoint Prof. Mathew Okai as the governor of Bank of Uganda.
However, Lule appointed Gideon Nkojo from Tooro.
By the time Godfrey Binaisa became the president, Nkojo was still the governor.
Governor Nkojo was crucial in the restructuring of the Central Bank from the economic crisis that hit the Uganda during Idi Amin’s 8year rule.
He remembered to have wooed back the cooperation and partnership of the international community in the rehabilitation of the country after the haemorrhage of Amin’s Administration.
One day, an influential minister in Binaisa’s government asked Nkojo to fraudulently withdraw huge cash and share it with him, but Nkojo declined.
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And when the minister kept urging him, Nkojo quit the job and returned to the US, where he was employed by the World Bank.