The Founder of the Centre for Freedom and Accuracy, Andrew Awuni, has called for investigations into investment portfolios of Ghana\u2019s largest pension manager, the Social Security and National Insurance Trust (SSNIT).<\/p>\n
His call follows the current scandal that has hit the Trust.<\/p>\n
SSNIT is currently being investigated by Economic and Organized Crime Office (EOCO) Public Procurement Authority (PPA) after it pumped $72 million dollars into a non-functional digitization project.<\/p>\n
[contextly_sidebar id=”m6NUtFl1jAG6EBuBLGEAuqfdVkgQFxzU”]SSNIT, which used to own about 89% share in Merchant bank [now UMB], currently has less than 5% shares in the bank, after they lost a case they contested in court against the new bank’s new managers, Fortiz.<\/p>\n
Speaking on the Citi Breakfast Show<\/strong>, Mr. Awuni, who is also a former spokesperson to ex-president John Kufuor, said SSNIT\u2019s recent troubles should not be taken lightly.<\/p>\n \u201cIt\u2019s a big loss to the Ghanaian contributor, in fact, it should raise the flag, the alarm bells of investment profiles of SSNIT. What decisions go into their investments? If you don\u2019t invest in the finance sector in this country which other area do you invest? Has SSNIT ever told us which area is actually doing so well that it is putting our money? Is it estate, block making, airlines, where are they putting our monies?\u201d<\/p>\n \u201cUnlike the banks \u2026who are obliged by law to publish their accounts on 31st<\/sup> of March every year, who has actually looked at the accounts of SSNIT and to find out where our contributions are going?\u201d he asked.<\/p>\n Meanwhile, SSNIT on its website said the Trust currently holds a number of shares listed on the Ghana Stock with about twenty-two (22) listed companies.<\/p>\n \u201cThe Trust has investments spread in seven sectors namely Manufacturing, Finance, Insurance, Distribution, Food & Beverage, Mining and Agriculture,\u201d SSNIT stated on its website.<\/p>\n –<\/p>\n By: Godwin Akweiteh Allotey\/citifmonilne.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" The Founder of the Centre for Freedom and Accuracy, Andrew Awuni, has called for investigations into investment portfolios of Ghana\u2019s largest pension manager, the Social Security and National Insurance Trust (SSNIT). His call follows the current scandal that has hit the Trust. SSNIT is currently being investigated by Economic and Organized Crime Office (EOCO) Public […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,10,11],"tags":[10645,3,6677,326],"yoast_head":"\n