Former NSSF Boss Richard Byarugaba Ordered to Refund 5 Billion or Face Prosecution

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 687.3million 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.

Meanwhile, the IGG noted that it’s important to tighten the weak sections of the NSSF Act that enabled the above losses to happen.