National Social Security Fund, Geraldine Ssali Busuulwa tells Red Pepper Online that the select committee to investigate allegations of irregularities and mismanagement is welcome.
“We will cooperate with the committee’s investigation as usual and will be pleased to provide all information necessary to assist the honourable Members of Parliament conduct a fair and transparent inquiry expeditiously,” she reveals in a communication sent to this paper.
The development follows a submission by Aruu county MP Odonga Otto accusing the fund of irregularly acquiring shares in UMEME and lopsided recruitments among other misdeeds. He claims that the Shs69Billion shares acquired in UMEME were acquired against the advice of the Solicitor General.
NSSF is the third largest institutional investor in the utility company, controlling 14.27% shares.
“We wish to reiterate that all decisions taken regarding the issues under investigation were in conformity with the relevant policies, procedures and laws of Uganda. They were taken in the best interest of the Fund,” she adds.
Otto further stated that NSSF disregarded outcomes of recent interviews conducted by the NSSF board and PricewaterhouseCoopers to fill the positions of Managing Director (MD), deputy Managing Director (DMD) and Corporation Secretary (CS). The committee is required to report back to parliament by August 19.
“We are therefore confident that the Committee’s findings will vindicate the Fund’s management,” Ssali concludes.