Makerere University lecturers have been assured that the National Insurance Corporation will pay all monies due in their dispute following the conclusion of an audit being conducted by the Auditor General.
The assurance was given by the commissioner for insurance in the ministry of finance, Evelyn Nkalubo after NIC announced it has paid more 5 billion shillings to Makerere University as part of the pension claims by the university staff who operated a staff pension scheme with NIC that went sour.
NIC paying to Garang Chopper victims
The University staff are asking for 16 billion shillings they say accumulated between 1996 and 2005, but NIC had refuted the amount, until the lecturers threatened to strike, causing President Museveni to intervene and promise NIC will pay their pension money.
In mid December 2010, the Minister of Finance Planning and Economic Development Syda Bbumba delivered the first instalment payment of 5 billion shillings by NIC to Makerere University, and now the lecturers are demanding 6 billion shillings.
Nkalubo says the government is working with NIC to ensure the matter is resolved amicably in order to retin trust in the budding insurance sector of Uganda.
The spokesperson of Makerere University Academic Staff Association (MUASA) Louis Kakinda confirmed that the 5 billion shillings was deposited onto the university salaries account on Thursday last week, and the staff are awaiting a final settlement to the matter.
NIC managing director Sam Njoroge also promises that the company will continue to cooperate in order to settle Makerere’s claim amicably and satisfactorily. He said the company is committed to paying all valid insurance claims and last year paid out a total of 18 billion shillings in insurance claims.
NIC a former government corporation is now owned IGI, a top rated Nigerian Insurance Company (60%) while the 40% shares are owned by different entities and are traded on Uganda Stock Market Exchange.