The University Teachers Association of Ghana (UTAG) has called for the immediate dissolution of the Board of the Social Security and National Insurance Trust (SSNIT) and the resignation of top management members.
UTAG in a statement issued on Saturday, July 13, noted that SSNIT’s initial disregard of public outcry to go ahead with the sale of the four hotels undermines public trust in their ability to manage funds transparently and prudently.
The call by UTAG comes after SSNIT terminated the intended sale of 60 percent of shares in some four hotels to Rock City Hotel owned by Agriculture Minister, Bryan Acheampong.
The termination of the sale was announced after Organised Labour decided to embark on a nationwide strike on Monday, July 15.
The statement signed by UTAG President Prof Mamudu Akudugu and General Secretary Prof Eliasu Mumuni noted that“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”.
“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.”
“In light of the declaration of a nationwide strike by Organized Labour on 12th July 2024, the University Teachers Association of Ghana (UTAG) unequivocally supports the action.
Consequently, UTAG has begun the necessary steps to activate a nationwide strike as per the declaration by Organized Labour, strictly following the UTAG Constitutional provisions. This decision is not taken lightly but reflects our deep-seated concern over the current handling of SSNIT investment interests and its assets.”
