NSSF, Tycoon Nzeyi Agree on Temangalo Land Refund After 18-Year Standoff

What the report says

The National Social Security Fund and businessman Amos Nzeyi have agreed in principle on a proposed settlement to resolve an 18-year dispute over 55 acres of land in Temangalo, Wakiso District, according to Nile Post. The arrangement discussed on Monday would see Nzeyi return 10 acres to NSSF and refund the Fund for the remaining 45 acres, with the final amount to be set by the Government Chief Valuer.

The issue came before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE), where NSSF managing director Patrick Ayota said the proposal followed talks held earlier the same day. NSSF bought the land in 2008 for Shs11.2 billion, but the dispute has continued for years and has drawn attention because of the potential impact on pension savers.

Members of Parliament did not immediately back the plan. They raised questions about why Nzeyi would keep any part of the land after payment had already been made for the full 55 acres, and urged NSSF to safeguard members’ funds. COSASE chairperson Muwadda Nkunyingi said the committee wants a fresh valuation of the 45 acres and evidence on how any refund would be recovered before considering approval.

Nzeyi, who attended the hearing with his lawyers, defended himself against what he called damaging media coverage and said he has invested in Uganda and created jobs. The proposed settlement is therefore not yet final and remains subject to further scrutiny by Parliament.