Annual general report of the controller and - Parliament of Tanzania

Office building at BoT and take appropriate cause of
action including recovery of the premiums.
• The Board of Trustees of the National Social Security
Fund (NSSF) should confirm whether value for money
was attainment during implementation of Oracle ebusiness
suite Applications and Core Fund Management
System project by commission an investigation on the
project.
• The Board of Trustees at NSSF should initiate an
investigation on all irregularities surrounding the
transaction for disposal of Executive Apartments at ADA
Estate Kinondoni area with a view to establish its
propriety. The corrective measures should thereafter be
taken for the Fund failure to institute the signed
agreement accordingly.
• Management and Board of Trustees of NSSF should
confirm that value for money was realized on disposal
of the Club Oasis properties or otherwise commission an
independent investigation to confirm the genuineness of
the whole transaction.
14.8 Assets Management
The Ministry of Finance and Economic Affairs should be
fully supported by the Government to set up a special unit
that will be responsible for investment appraisal of public
sector investments above a specified threshold. There is
need for such a body considering the current situation
where negative returns are being earned on GoT
investments. Once a project has been appraised and found
viable, GoT needs to prioritize funding for projects with
the most attractive returns.
14.9 Corporate Governance
Good Corporate Governance makes it mandatory for PA&oB
to institute sound policies towards proper management of
resources. In achieving this fundamental goal, organizations
need to institute a series of aspects that shall enable them
to exercise effective controls for elimination of wastes
fortified by fraud, negligence, embezzlements and sloppy
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Office of the Controller and Auditor General PA&oBs 2007/08 239