Yesterday, Hon.@hon_mpaka the Chairperson of the Select Committee investigating the state of affairs on @nssfug presented the committee report to the house, and here are the recommendations.
✅ The @nssfug Management (Mr.@rpbyaru ,Patrick Ayota, Steven Mwanje & Barbra Teddy Arimi) that participated in the initiation of Ugx 1.8 Billion budget for donations step aside with immediate effect to allow investigations by IGG. #PlenaryUg
✅ That Hon.@BettyAmongiMP resigns in public interest with immediate effect for her actions in directing that Ugx 6 Billion be sent to her Ministry. #PlenaryUg
✅ That the @IGGUganda conducts a lifestyle audit on @rpbyaru , Ag MD. Patrick Ayota, Mr. Gerald Paul Kasaato, Geoffrey Sajjabi, and others. This should be done and the report of the audit reported to the Parliament within 60 days of the adoption of this report. #PlenaryUg
✅ That Parliament streamlines the dual supervision of @nssfug .
✅That the NSSF ACT is amended to give full supervision to @mofpedU rather than having two ministries (Gender and Finance) supervise the fund. #PlenaryUg
✅ That the appointment of the Managing Director and Deputy MD of NSSF be vested and entrusted to the @mofpedU . #PlenaryUg
✅ The Committee notes that the write-off of Ugx 2.3 Billion invested in West Nile Golf Club is unreasonable since the Board has not taken any reasonable steps to recover the Money. #PlenaryUg
✅ The Committee recommends the termination of Stephen H Mwanje's contract since he was appointed to the position of Chief Financial Officer irregularly. It is also recommended that Mwanje is prosecuted for occupying this position without a Practising certificate #PlenaryUg
✅ The Committee recommends that the Minister for Labour writes to COFTU to recall the appointment of Hon. Sam Lyomoki and Ms. Peninah Tukamwesiga who were illegitimately appointed to the NSSF Board. #PlenaryUg
✅ That Mr. Geoffrey Sajjabi's contract with NSSF be terminated with immediate effect since he assumed this position without the requisite academic qualifications for the role. #PlenaryUg
✅ That the current board refunds Ugx 624 Million within 7 working days upon the adoption of this report, which was given to Mr. Julius Bahemyuka and Mr. Fred Bamwesigye upon their resignation from the board. #PlenaryUg
✅ That the Auditor General conducts a Value for Money Audit on the following projects.
▶️ Lubowa Housing Project
▶️ NSSF Pension Tower (Specifically on Contract Variation)
▶️ Yusuf Lule Land and Temangalo land that was undertaken by NSSF. #PlenaryUg
The Committee notes that it was erroneous for @nssfug to extend an unsecured loan of Ugx 11.05 Billion to Uganda Clays Limited without conducting due diligence on its creditworthiness. #PlenaryUg
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In the next Financial year 2023 /24, National Roads have been allocated a budget of Ugx 595 billion for development, rehabilitation, and Iand acquisition by the Integrated Transport Infrastructure Services (ITIS) program. #PlenaryUg
Based on the current contractual commitments, even if the budget for FY 2022/23 is fully released, it is projected that there will be a debt of approximately Ugx 300 billion by the end of this Financial year which will be carried forward to FY 2O23/24. #PlenaryUg
This debt takes first priority on the budget & is included in the required resource for the next Financial year. This means no allocation has been made towards works to be executed in FY 2023/24 and neither can new rehabilitation and periodic maintenance projects be commenced.
Due to the long rainy season experienced in the country since August last year to date, the condition of the national roads continues to deteriorate and the kilometers of the paved and unpaved network in fair and poor condition is likely to increase significantly which in turn
.......will affect the support to the PDM program especially Pillar No. 2. #PlenaryUg
The Committee observed that commercial banks have higher capital and equity requirements for licensing as to justify the use of the word "bank", as compared to MDIs. #PlenaryUg
The Financial Institutions (Revision of Minimum Capital Requirements) Instrument, S.I No. 30 of 2022 set the minimum capital requirements for financial institutions at Shs 150bn and for the MDIs at Shs 1Obn. #PlenaryUg