Five Hundred Coins Used to Weld Bicycles In Northern Uganda
The Arru county mp in Padel district Odonga Otto shocked parliament last evening when he revealed that people in Northern Uganda are using the country’s five hundred denomination to weld their bicycles.
The legislator splashed out this information as he was appealing to Bank of Uganda to ensure it sends small denominations in the North to facilitate day today running of business in the area.
He explained that the public there are in a crisis with no small denominations, and this has led to failure in transacting business as they can’t find change for big notes of money presented to them hence they are now stuck and this is affecting the economy.
On the same note, the speaker of parliament was concerned by the practice of some gambling companies who keep the five hundred coins in their machines for some time hence causing crisis.
Meanwhile, the state Minister for disaster preparedness Musa Echweru wondered how a legislator could simply look on when his constituents are abusing the country’s currency yet the act is considered illegal in the law.