{"id":8214,"date":"2023-02-07T13:37:46","date_gmt":"2023-02-07T13:37:46","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=8214"},"modified":"2023-02-07T13:37:53","modified_gmt":"2023-02-07T13:37:53","slug":"auditor-general-exposes-nssf-officials-over-suspense-accounts-and-avoidable-expenditure","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/auditor-general-exposes-nssf-officials-over-suspense-accounts-and-avoidable-expenditure\/","title":{"rendered":"Auditor General Exposes NSSF Officials Over suspense accounts and avoidable expenditure"},"content":{"rendered":"\n

The Director Audit in the\u00a0Auditor General\u2019s Office, Joseph Kirya<\/a>\u00a0has told the select committee investigating allegations of mismanagement at the National Social Security Fund (NSSF) that the fund\u2019s management has failed to address the recurrent query on suspense accounts.<\/p>\n\n\n\n

Kirya together with the Auditor General, John Muwanga and other officers appeared before the committee and tabled a  report which indicated that NSSF reported unallocated members\u2019 contributions of Shs38.2 billion in 2020, Shs45 billion in 2021 and Shs57 billion in 2022.<\/p>\n\n\n\n

Kirya blamed this on failure by NSSF to follow up with employers who submit payments without the list of employees.<\/p>\n\n\n\n

\u201cWhen employers pay, they are supposed to send a list of beneficiaries. But what we have observed over the years is that companies would pay without accompanying lists and funds cannot be allocated and it is put in the suspense accounts,\u201d said Kirya.<\/p>\n\n\n\n

He said that despite repeated reminders to NSSF to address the challenge, figures on unallocated funds continue to grow.<\/p>\n\n\n\n

Committee Chair, Hon. Mwine Mpaka sought clarification on the steps that the Auditor General has taken to address the complaints on suspense accounts.<\/p>\n\n\n\n

\u201cWe have received several complaints from savers on suspense accounts and the Auditor General seems not to be aware of the issue,\u201d Mwine Mpaka said.<\/p>\n\n\n\n

Amos Kankunda (NRM Rwampara County) tasked the Auditor General<\/a> to investigate and find out if NSSF has a system to safeguard funds in the suspense accounts.<\/p>\n\n\n\n

Meanwhile, the Assistant Auditor General in charge of audit services, Edward Akol revealed that an audit into the fund\u2019s investment income uncovered avoidable expenditures totalling to Shs300 million and US$ 293,000.<\/p>\n\n\n\n

He said that Shs323 million was paid in the Lubowa real estate investment to undertake procurement of contractors and yet the fund has a fully-fledged procurement and disposal unit.<\/p>\n\n\n\n

He added that US$ 173,000 and US$ 120,000<\/a> was paid to contractors as compensation claims relating to renewal of performance and advance guarantees as a result of delayed issuance of instructions for project commencements.<\/p>\n\n\n\n

\u201cThis was spent by the fund which in my opinion could have been avoided with better planning. I advised management to recover these amounts and make further checks on the already paid items,\u201d he added.<\/p>\n\n\n\n

Charles\u00a0Bakkabulindi (NRM, Workers Representative)<\/a>\u00a0raised concern over the avoidable expenditures saying that it affects interest of the savers.<\/p>\n\n\n\n

\u201cWe have been hearing from the media and the fund\u2019s management that workers\u2019 money is safe and yet you are talking about over payments and avoidable payments; should we still trust that the money is safe?\u201d Bakkabulindi asked.<\/p>\n\n\n\n

On 19 January 2023, the House resolved to institute a committee to inquire into the operations of NSSF following reports of corruption and mismanagement of the Shs17.9 trillion fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Director Audit in the\u00a0Auditor General\u2019s Office, Joseph Kirya\u00a0has told the select committee investigating allegations of mismanagement at the National<\/p>\n","protected":false},"author":1,"featured_media":8215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[271],"tags":[],"class_list":["post-8214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nssf-saga-workers-savings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/02\/katerega.jpeg","jetpack-related-posts":[{"id":8173,"url":"https:\/\/prowebinhost.com\/anzu\/nssf-saga-byarugaba-accuses-minister-amongi-of-interference-in-management-of-the-fund\/","url_meta":{"origin":8214,"position":0},"title":"NSSF\u00a0 SAGA: BYARUGABA ACCUSES MINISTER AMONGI OF INTERFERENCE IN MANAGEMENT OF THE FUND","author":"UgandaUpdate","date":"February 5, 2023","format":false,"excerpt":"By Our Parliament Reporters Out going Managing Director \u00a0,Richard Byarugaba who is at the center of a leadership row at the - 18 Trillion National Social Security Fund (NSSF) has told the parliamentary select committee that \u00a0Minister of Gender, Labour and Social Development, Betty Amongi \u00a0was overstepping her oversight mandate\u2026","rel":"","context":"In "Workers savings"","block_context":{"text":"Workers savings","link":"https:\/\/prowebinhost.com\/anzu\/category\/workers-savings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12980,"url":"https:\/\/prowebinhost.com\/anzu\/assessing-nssfs-performance-a-comprehensive-analysis-for-savers\/","url_meta":{"origin":8214,"position":1},"title":"Assessing NSSF’s Performance: A Comprehensive Analysis for Savers","author":"UgandaUpdate","date":"October 14, 2024","format":false,"excerpt":"By Alex Kakande The National Social Security Fund (NSSF) recently announced an interest rate of 11.5%, prompting savers to evaluate their investment choices. With a history of fluctuating returns, including a notable 15% in 2018 and 12.15% in 2021, understanding the impact of these rates on your savings is more\u2026","rel":"","context":"In "National News"","block_context":{"text":"National News","link":"https:\/\/prowebinhost.com\/anzu\/category\/national-news\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2024\/10\/download-3.jpg","width":350,"height":200},"classes":[]},{"id":8437,"url":"https:\/\/prowebinhost.com\/anzu\/parliament-adopts-nssf-committee-report-calls-for-minister-amongi-resignation-for-soliciting-ug-shs-6bn-workers-money\/","url_meta":{"origin":8214,"position":2},"title":"Parliament adopts NSSF committee report calls for Minister Amongi resignation for soliciting ug.shs.6bn workers money","author":"UgandaUpdate","date":"March 11, 2023","format":false,"excerpt":"Members of Parliament chaired by Speaker Anita Among have adopted recommendations by the select committee that investigated mismanagement and corruption at the Ug.Shs.18 trillion NSSF and called for the resignation of Gender Minister Betty Amongi for abuse of office. 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