President Museveni has in exercise of the powers given to the president of Uganda by the constitution pardoned former National Social Security Fund(NSSF), managing director, David Chandi Jamwa .

In the latest instrument of pardon, Jamwa was pardoned alongside many others.

“In exercise of the power vest in me under Article 121 of the Constitution of the Republic of Uganda,1995 as amended and on the advice of the advisory committee on the prerogative of mercy, I hereby grant pardon,” Museveni said in his pardon instrument.

He said Jamwa and others had been pardoned on grounds of poor health and for humanitarian reasons.

The Anti -Corruption Court in 2010 convicted Jamwa of  causing a financial loss of shs3.1bilion to government  when he sold  NSSF bonds to the now defunct  Crane Bank before their maturity dates, causing a financial loss to NSSF.

He was consequently sentenced to 12 years imprisonment.

Evidence by the Inspector General of Government indicated  that between September and November 2007  being  employed in  NSSF, a public body  in the capacity of managing director,Jamwa sold off several government bonds held by NSSF before their maturity dates to Crane Bank at prices below their then discounted value thereby causing an unfavourable price variance of shs3.1 billion.

The IGG contended that  Jamwa knew or had reason to believe that his actions would cause financial loss to the fund.

In his ruling, Justice John Bosco Katutsi also barred Jamwa from holding any public office for 10 years, a sentence he has since challenged in the court of appeal.

Efforts by Jamwa to appeal against the sentence  before the Court of Appeal and Supreme Court failed