Former NSSF boss David Chandi Jamwa is escortedat the Anti-Corruption Court officers
Former Managing Director of the National Social Security Fund (NSSF), David Chandi Jamwa has had his appeal thrown out and ordered to serve a 12-year sentence handed to him in 2010.
Mr. Jamwa was challenging the sentence handed to him by the then head of the Anti-Corruption Court Justice John Bosco Katutsi, who found the beleaguered former NSSF chief guilty of causing financial loss to government for having sold NSSF bonds to the now-defunct Crane Bank before their maturity dates, causing a financial loss of Shs 3bn to the Fund.
Justice Katutsi also barred Jamwa from holding any public office for 10 years.
But Mr. Jamwa lost his appeal to a panel of three justices; Steven Kavuma, Kenneth Kakuru and Ruby Opio Aweri by 2/3, with Justice Kavuma, now retired electing to agree with the appeal. However, Justices Aweri and Kakuru, agreed with the trial judge, indicating that that evidence showed that the sale of government bonds by NSSF only two days to their maturity led to a financial loss.
The judges wondered why Jamwa as the NSSF Managing Director was in a hurry to sell off the bonds only two days to their maturity date having been kept for over three years but sold below the guaranteed price.
“We find no merit in the appeal and therefore dismiss it.”
They upheld the 12-year sentence.
Jamwa has now been returned to Luzira having been out on bail since 2011.
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