The Social Security and National Insurance Trust (SSNIT) has responded to allegations by former Chief Justice (CJ), Sophia Abena Boafoaa Akuffo, that management of the Trust is engaging in distribution of SSNIT’s assets to themselves.
SSNIT says the allegations are false and misleading, following the former CJ’s claims that the management deliberately ran down assets in its care and sell to themselves afterwards.
In an interview with Alfred Ocansey on TV3’s Ghana Tonight Thursday, July 25, 2024, Madam Akuffo noted that the Trust’s decision to sell off the 60 per cent of its shares in some four hotels which was vehemently opposed by Organised Labour following an exposé by North Tongu MP, Samuel Okudzeto Ablakwa, was deliberate.
She had indicated that like other public institutions, SSNIT decided to run down the hotels so they can distribute amongst themselves. The hotels were to be sold to the Minister of Agriculture, Bryan Abbey Acheampong.
Meanwhile, a statement issued by the Trust Monday, July 29, 2024, says the Trust used due process to give Bryan Achempong’s company the green light to purchase the hotels.
Any attempts therefore, to suggest it was deliberate shared amongst party cronies is unfortunate.
“Contrary to the allegations, SSNIT undertook a transparent and competitive
process, in line with all procurement laws to select an Independent
Transaction Advisor to guide the process.
“An International Competitive Tender process was used to select the Strategic Investor. Both processes sought to maximise the value that could be obtained from the sale of our majority stakes in each of the hotels. The allegations therefore are false and misleading”, the statement contained in some parts, adding that it is looking “forward to engaging its stakeholders to advance the course of the Pension Scheme.”
It continued that: “We wish to assure pensioners, contributors, and the public of our commitment to managing the assets of the Trust in a manner that will ensure the long-term sustainability of the Scheme.”
onuaonline.com