David Chandi Jamwa, the former Managing Director of the National Social Security Fund (NSSF), finds himself atop a list of 13 inmates recommended for forgiveness through the Presidential prerogative of mercy, according to a credible source. The source, communicating with The Independent via phone, confirmed the authenticity of the letter and suggested that Jamwa might have already been released from prison.
President Yoweri Museveni, exercising authority granted under Article 121(1)(a) of the Constitution of the Republic of Uganda, 1995, as amended, and acting on the advice of the advisory committee on the prerogative of mercy, issued an instrument of pardon. The document cites grounds of public health and humanitarian reasons for granting clemency to the specified individuals.
Jamwa’s conviction stemmed from charges of abuse of office and causing a financial loss of sh3 billion, as determined by the Anti-Corruption Court. His sentence amounted to 12 years of imprisonment.
The core accusation against Jamwa involved the premature sale of government bonds held by NSSF to Crane Bank in 2007, resulting in a financial loss. These bonds, initially purchased at sh34 billion, were expected to mature to a value of sh39 billion over three years. However, Jamwa opted to sell them prematurely, causing NSSF to receive sh36 billion instead of the anticipated sh39 billion.
Government Bonds Transaction Details
| Transaction Element | Amount (Shillings) |
|---|---|
| Initial Purchase | 34,000,000,000 |
| Expected Maturity | 39,000,000,000 |
| Actual Receipt | 36,000,000,000 |
This financial maneuver led to Jamwa’s legal troubles, resulting in the court’s decision to impose a 12-year prison sentence.
