The University Teachers Association of Ghana (UTAG) has called for a complete overhaul of the Social Security and National Insurance Trust (SSNIT) board, along with the immediate resignation of its top management team.
This demand follows widespread protests against SSNIT’s planned sale of its 60% stake in four hotels to a private hotel owned by Ghana’s Minister of Food and Agriculture.
In a statement issued on Saturday, July 13, 2024, signed by the UTAG President Prof Mamudu Akudugu and General Secretary Prof Eliasu Mumuni, UTAG said, “Those in positions of power within SSNIT must step down to allow new people with a better appreciation of the enormity of the responsibility of managing pension funds to take over and restore public trust and ensure that such actions are not repeated in the future.”
Although the outcry led to the deal’s cancellation, UTAG criticized the board and management for their involvement, citing it as a failure in decision-making and accountability.
UTAG emphasized the need for new leadership at SSNIT, stating that current officials have shown a disconnect from public opinion and a lack of understanding in managing pension funds responsibly.
“Their initial decision to proceed with this transaction, despite widespread public outcry, indicates a disregard for the sentiments and welfare of the broader populace. This action has undermined confidence in the board and management’s capacity to manage our pension funds and assets prudently and transparently.”
Additionally, UTAG supported organized labor’s call for a nationwide strike over SSNIT’s actions, expressing concern over the handling of pension funds and assets.
They underscored the importance of restoring public trust and preventing similar incidents in the future through transparent and prudent management practices.
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