The acting Managing Director of the National Social Security Fund (NSSF), Mr Martin Bandebiire, will not return to his position as corporation secretary when the government appoints a new team to manage the Fund early next year. Daily Monitor has learnt that Mr Bandebiire notified Finance Minister Syda Bbumba of his intention to end his contract with NSSF in October this year. “The minister has now accepted his resignation effective December 30, 2009,” various sources within the fund confirmed to Daily Monitor yesterday.
Sources within the Fund revealed that Mr Grace Isabirye, the chief investments officer, will act as managing director until a substantive one is appointed by the board. When contacted, Ms Bbumba said she was in a meeting and promised to call later but by press time, she had not honoured her promise.
The news of Mr Bandebiire’s resignation comes hardly a day after Daily Monitor reported that government is to appoint new top executives for the Fund early next year after the board resolved not to renew the contracts of suspended Managing Director David Chandi Jamwa and his deputy Prof. Mondo Kagonyera.
Mr Bandebiire was appointed in acting capacity after Mr Jamwa and Prof. Kagonyera were suspended in December 2008 to pave way for investigations into the alleged mismanagement of the Fund. Their contracts were due to expire in February 2009. However, a source privy to the details of the quarterly meeting said they agreed to advertise for new office bearers in January 2010.
According to the source, Mr Bandebiire, who has worked for the fund since 2001, has served twice as deputy corporation secretary, ag. corporation secretary and acted as MD in September 2004 to February 2007 when Mr Jamwa was appointed. He again took over the mantle after the suspension of Mr Jamwa.