Former NSSF Director and Finance Director Ordered to Refund Ugx 5 Billion: IGG Exposes Mismanagement and Calls for Legislative Reform
The Inspector General of Government Beti Kamya, has ordered the former Managing Director of the National Social Security Fund (NSSF), Richard Byarugaba, and the Director of Finance, Stevens Mwaje, to refund a total of UGX 5.1 billion (Ugandan shillings) or face prosecution. Kamya released a report detailing allegations of mismanagement and corruption at the NSSF. Kamya emphasized the need to strengthen weak sections of the NSSF Act that allowed such losses to occur.
The Inspector General of Government Beti Kamya has ordered the former Managing Director for NSSF Richard Byarugaba together with the Director Finance Stevens Mwaje to refund UGX4.4 billion and another UGX 687.3 million or risk facing prosecution.
While releasing a report on the allegations of mismanagement and corruption at the NSSF Friday, Kamya revealed that under their watch, Byarugaba irregularly authorized payment of 4.4billion shillings to an employee who had quit the company under voluntary early retirement an exit package that is not backed by law hence causing the loss of savers’ money.
She explained that Byarugaba also engineered the resignation of two board members from the board to accommodate the minister’s directive at the cost of the fund of 687.2million shillings. Below is part of the report highlighting the loss.
Kamya said that the two officials should refund the said money or face the law.
In addition, IGG noted that it’s important to tighten the weak sections of the NSSF Act that enabled the above losses to happen.
