The National Pensions Regulatory Authority (NPRA) has rejected accusations by the Minority in Parliament alleging that its Chief Executive Officer, Chris Boadi-Mensah, doubled his salary upon assuming office.
The allegations were made during a press conference held on Thursday, April 16, by the Member of Parliament for Old Tafo, Vincent Ekow Assafuah.
Addressing journalists, the MP claimed that Mr. Boadi-Mensah had unilaterally increased his own salary shortly after taking office in February 2025, at a time when the NPRA Board had not yet been constituted.
The claims quickly drew a response from the Authority, which issued a counter press release to provide context to the circumstances surrounding the CEO’s remuneration.
According to the NPRA, the assertions made by the MP are inaccurate and fail to reflect decisions taken prior to the current administration of the Authority. The regulator explained that salary adjustments referenced by the MP were in fact approved before Mr. Boadi-Mensah assumed office.
NPRA Authority noted that a 25 percent salary increment had already been approved in September 2024, with implementation scheduled to take effect from January 1, 2025, weeks before Mr. Boadi-Mensah’s appointment as CEO.
Reiterating its position, the NPRA stated that “The claim that Mr. Chris Boadi-Mensah doubled his salary upon assuming office is completely untrue. The last Board, under the immediate past government approved a 25% salary increment in September 2024, effective 1st January 2025 before his assumption of office. This approval happened under the previous management. It was based on this new salary structure that the exit packages of the former executives were paid.”
“Therefore, the claim by Mr. Assafuah that Mr. Boadi-Mensah doubled his salary upon the assumption of office is entirely false and unsubstantiated. A little bit of due diligence on the part of Mr. Assafuah would have established this fact.”
The Authority emphasised that the salary structure currently in place is a continuation of decisions made by its previous leadership and not the result of any unilateral action by the current CEO.
It further suggested that the claims may have stemmed from a misunderstanding or lack of verification of the facts surrounding the approved remuneration framework.
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Minority accuses NPRA CEO of doubling salary without board approval
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