By Jackson Onyango
Officials from the Uganda Retirement Benefits Regulatory Authority (URBRA) have revealed that the National Social Security Fund does not possess a title for the land on which its headquarters, the Workers’ House sits.
The officials led by the Chief Executive Officer, Martin Nsubuga were this morning appearing before the select committee investigating the National Social Security Fund (NSSF) saga.
Nsubuga has revealed that the said land title is in the possession of Alcon, a firm with which NSSF had a dispute but the Supreme Court ruled in favor of the Fund.
URBRA director legal services, Rita Nansasi has however told the committee that the Fund is pushing to obtain a special title for the land at the NSSF headquarters. Officials from NSSF have also confirmed to the committee that efforts are on to acquire a special title.
The committee commenced the inquiry this week and so far ,the board members of NSSF, current management, and the two workers’ unions have given their input into the inquiry.
Nansasi told the committee that the title held by Alcon was not of any threat since a caveat had been issued on the same by the Fund.
However, the MPs contended that in no way could a caveat have been issued without the engagement of Alcon which could be having a claim on the land. It is said that the title deed was handed to Alcon as security.
The MPs argued that even if a special title is issued to the Fund, it would be encumbered. The officials claimed that by the time the dispute was resolved by the Supreme Court, Alcon had exited Uganda and could not be traced.
But the Entebbe municipality MP, Michael Kakembo rebuffed the claim that Alcon was untraceable, arguing that the legal representatives of the firm in the case with Fund have offices at Workers’ House.
Nsubuga also told the committee that plots of land of unspecified size in Temangalo lacked titles.
The regulator’s concern stems from the fact that it is responsible for ensuring that all assets with title deeds belonging to pension funds are held by licensed custodians in this case, URBRA.
The regulator is equally concerned that NSSF holds the rest of the title deeds in-house, in total contravention of the law. URBRA officials are expected to reappear before the committee next week.