The University Teachers Association of Ghana (UTAG) has called for the immediate resignation of the Board and Management of the Social Security and National Insurance Trust (SSNIT), citing a lack of corporate governance expertise and egregious judgment. This comes after SSNIT's decision to terminate the sale of its hotels to Rock City Hotel, owned by the Minister of Agriculture, Bryan Acheampong.
UTAG believes that the current leadership has lost public trust and must step down to allow new leaders to take over and restore confidence in the management of pension funds. The association has begun preparations for a nationwide strike, following the declaration by Organized Labour, to demand better management of SSNIT's assets.
The decision by SSNIT to sell its stakes in four hotels to Rock City Hotel sparked widespread outrage and opposition from various stakeholders, including Organised Labour. The sale was seen as an attempt at State Capture and a conflict of interest, as Bryan Acheampong is a government appointee.
Despite the termination of the sale, UTAG is demanding that the entire Board and Management of SSNIT step down. The association believes that their continued tenure is untenable and that they have exhibited a profound lack of corporate governance expertise.
UTAG's statement, signed by President Prof Mamudu Akudugu and General Secretary Prof Eliasu Mumuni, emphasized that the actions of the SSNIT Board and Management have undermined confidence in their ability to manage pension funds prudently and transparently. The statement also noted that the initial decision to proceed with the sale despite public outcry indicates a disregard for the sentiments and welfare of the broader populace.
The demand for the resignation of the SSNIT leadership is a testament to the growing concern over the handling of pension funds and assets in Ghana. UTAG's support for the nationwide strike is a clear indication that the association will not stand idly by while the interests of pensioners and contributors are compromised.
The strike action by UTAG and Organised Labour is a wake-up call to the government to take immediate action to address the issues plaguing SSNIT. The government must ensure that public assets are managed in a transparent and accountable manner, and that the interests of pensioners and contributors are protected.
Furthermore, the government must take steps to address the underlying issues that led to the attempted sale of SSNIT's hotels. This includes addressing the conflict of interest and ensuring that public officials are held accountable for their actions.
The termination of the SSNIT hotel sale is a victory for Ghanaians, but it is only the beginning. We must continue to fight for a better Ghana, where public assets are managed in the best interest of all Ghanaians, and where corruption and State Capture are things of the past.
In conclusion, the demand for the resignation of the SSNIT leadership is a necessary step towards restoring public trust and ensuring that pension funds are managed prudently and transparently. The government must take immediate action to address the issues plaguing SSNIT and ensure that public assets are managed in a way that benefits all Ghanaians.
We must also recognize the role that whistleblowers like Samuel Okudzeto Ablakwa have played in exposing corruption and ensuring that public assets are managed in a transparent and accountable manner. We must continue to support and protect whistleblowers like Ablakwa, who are crucial in the fight against corruption.
Read the full statement below 👇
