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Masaka Elders SACCO Board Chair In Trouble for Alleged Mismanagement

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During a crisis meeting convened by Masaka Deputy Resident District Commissioner, Captain John Kaddu held at Patel Shamij hall in Masaka town on Monday, the delegates demanded for Nabaggala’s dismissal for gross mismanagement of their cooperative.
13 Aug 2019 13:34
Margret Ntambaazi Nabaggala Elders SAACO Chairperson during a crisis board meeting

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Margret Nabaggala Ntambaazi, the Board Chairperson of Masaka Elders’ Savings and Credit Cooperative-SACCO limited is in trouble for alleged mismanagement and causing financial loss to the society.   

The SACCO delegates have dragged Nabaggala to the office of Masaka Resident District Commissioner-RDC accusing her of running down the SACCO and manipulating the internal financial management systems to fulfill her selfish gains.      

During a crisis meeting convened by Masaka Deputy Resident District Commissioner, Captain John Kaddu held at Patel Shamij hall in Masaka town on Monday, the delegates demanded for Nabaggala’s dismissal for gross mismanagement of their cooperative. 

Trouble for Nabaggala started in March this year when she took a lone decision of suspending the SACCO manager and failed to convene the Annual General Meeting to present the financial status of the cooperative.

Swaibu Makumbi, one of the delegates accuses Nabaggala of spending the SACCO finances without a work-plan and board approval. Harriet Kigambisa, another delegate and founding members of the SACCO also accuses the board chairperson of running the cooperative on cliques and deliberately rejecting counsel from other board members.

She wants Nabaggala to refund all the monies she has spent without a work plan and knowledge of board members.     

//Cue in: “Bwetuba ng’obuzibu…….   

Cue out; ……police buli lunaku.”//  

Joseline Nalubowa, one of the board members accuses Nabaggala of deliberately creating rifts within the SACCO management to for her selfish interests.  She says those in her clique are fond  of forging the signatures of delegates to falsify board minutes and have since turned hostile against all forces that seek to correct the mess. 

 

Samuel Mutebi Wasajja, the Masaka Elders’ Savings and Credit Cooperative Board Vice Chairperson also told the meeting that he and other members chose to distance themselves from the SACCO management after it was captured by a clique that doesn’t listen to advice.  

Captain John Kaddu, the Masaka Deputy Resident District Commissioner has instructed Joseph Mugerwa and Wasswa Ssempijja, the Commercial Officers of Masaka Municipality and Masaka district respectively to take over the SACCO management and save it from imminent collapse. 

//Cue in: “Engeri board…..   

Cue out:……bireme kuggwa.”// 

Margret Nabaggala Ntambaazi, the embattled SACCO board chairperson has denied any involvement in the alleged financial impropriety. She has pleaded with the delegates to wait for the auditor to review their books of accounts and report to the members.  

//Cue in: “Okusonyiwagana……  

Cue out; ………okubatuusa kw’ekyo.”//  

Masaka Elders’ SACCO was established in 2006 to primarily attend to the emerging financial needs of elderly persons in the eights of greater Masaka sub region.