Former Chief Justice of Ghana, Sophia Akuffo, has leveled serious accusations against the management of the Social Security and National Insurance Trust (SSNIT).
She alleged that SSNIT intentionally neglected the hotels it planned to sell to devalue them, thereby facilitating a scheme where management could benefit personally from the reduced sale prices.
Akuffo’s comments came in response to SSNIT’s earlier defense for selling a 60% stake in four hotels.
SSNIT Director General Kofi Bosompem Osafo-Maafo had claimed that these hotels were unprofitable and not generating dividends, making their sale the only viable option for revitalization.
In an exclusive interview with TV3’s Alfred Ocansey on July 25, Akuffo expressed skepticism over SSNIT’s justification, suggesting that the deterioration of the hotels was a deliberate tactic.
She praised labor unions for opposing the sale to Agric Minister Bryan Acheampong, stating that their resistance was commendable.
Akuffo also criticized the notion that there was no conflict of interest in the matter, emphasizing that conflict of interest is not solely defined by the individual but also by public perception.
She argued that even without explicit legal restrictions, ethical considerations should guide decisions to avoid any appearance of impropriety.
The controversy surrounding the sale led SSNIT to suspend the transaction after labor unions threatened a nationwide strike.
On July 12, SSNIT officially announced the termination of the sale, with Board Chair Elizabeth Akua Ohene affirming the Trust’s commitment to managing its assets responsibly for the benefit of pensioners and contributors.