Breaking News Business HOME News

Savers Caution Minister Over NSSF Board Selections

0
Please log in or register to do it.

A section of National Social Security Fund (NSSF) savers has urged Labor Minister Betty Amongi to exercise caution when appointing non-statutory members to the fund’s board of directors. The savers emphasize the importance of considering candidates’ financial track records and social reputations, among other qualifications.

 

These savers, primarily from smaller enterprises, became mandatory contributors after recent amendments to the fund’s law. Voluntary savers, a group that has grown in prominence due to these amendments, have also expressed concerns. They are organized under the Social Security Defenders’ Group.

 

Speaking to journalists in Kampala on Tuesday, the group’s leader, Gerald Asaba, stressed the need for due diligence by the minister, warning against appointing self-serving individuals or “strugglists” to safeguard their savings.

 

Asaba also urged the minister to consider the recommendations of the parliamentary select committee report, specifically resolution No. 27, which states: “The IGG should investigate the following persons who were involved in the Smart Card project and the Customer Self-service Touch Pad, which caused financial losses of UGX 2,807,340,805 and UGX 133,283,458 respectively, with a view to prosecuting them.”

 

According to Asaba, the individuals in question are Richard Bigirwa and Agnes Kunihira, both members of the current board’s finance subcommittee. He added that a whistleblower has reported similar concerns to the Inspector General of Government.

 

Lillian Nakiganda, a restaurant operator from Kawempe, suggested that the minister review nominees’ financial records to assess their financial standing. “If one presents their financial card, the minister will know whether the nominees have loans and their ability to repay them. This, in a way, will protect our money from being used to pay off personal debts,” Nakiganda stated.

 

Margaret Nakanyike, a new saver, expressed fear over the claims of mismanagement at NSSF, which have been in the news for a long time. She is particularly concerned that individuals involved in these issues are still seeking to lead the organization. She suggested that savers should have a direct role in selecting those who will oversee their money.

 

Sowedi Wakau, an employee with Kakiise Bus Company, proposed that the minister request nominees’ wealth declarations. He also suggested that those who previously served on the board should not be nominated again, but could instead be considered for advisory roles, as many of these individuals represent fear and mismanagement in the eyes of the savers.

 

Charles Kibirige, a voluntary saver, revealed that some members of the current board, like Richard Bigirwa, have begun approaching savers to support their re-nomination despite questionable reputations. He urged the minister to prioritize integrity when considering nominees.

 

Kibirige also stressed that the fund’s annual general meetings should be as inclusive as possible. “If it requires inviting members to a stadium, so be it, if that’s what will ensure everyone is represented,” he said.

 

The amended NSSF law grants the labor minister the authority to appoint and dismiss non-statutory members of the NSSF Board of Directors, ensuring representation from all stakeholders in the fund.

 

The law states: “The fund shall be governed by a stakeholder board of directors appointed by the Minister and consisting of a chairperson; the permanent secretary of the ministry responsible for labor; the permanent secretary of the ministry responsible for finance; four representatives of employees nominated by the Federations of Labor Unions; two representatives of employers nominated by the Federation of Uganda Employers; and the managing director, who shall be an ex-officio, a member without the right to vote.”

 

Additionally, the law stipulates that non-statutory board members shall serve a three-year term, with the possibility of reappointment for one additional term only. Members may be removed from office by the minister for reasons including abuse of office, corruption, incompetence, physical or mental incapacity, misconduct, bankruptcy, conviction for an offense involving dishonesty, or failure to declare a conflict of interest. The minister is also required to ensure that board members are of high moral character and proven integrity, with consideration given to persons with disabilities, gender balance, skills, and experience.

 

Furthermore, the board must include contributing employers among its members.

 

By

 

Denis Kasule Ssebunya 

Minister Calls for Increased Investment in Livestock Value Chain to Meet Growing Demand
Police Investigate Double Killing in Kigezi Region

Reactions

0
0
0
0
0
0
Already reacted for this post.

Reactions