The University Teachers Association of Ghana (UTAG) has demanded the immediate dissolution of the Social Security and National Insurance Trust (SSNIT) Board and the resignation of top management members.
In a statement released on July 13, UTAG expressed concern over SSNIT’s initial decision to proceed with the sale of four hotels despite public outcry, which undermines public trust in their ability to manage funds transparently and prudently.
This call comes after SSNIT cancelled the sale of 60% shares in four hotels to Rock City Hotel, owned by Agriculture Minister Bryan Acheampong, following the announcement of a nationwide strike by Organised Labour on July 15.
UTAG’s demand for accountability and transparency in SSNIT’s management highlights the need for responsible stewardship of public funds.
Prof. Mamudu Akudugu, President of the University Teachers Association of Ghana (UTAG), and Prof. Eliasu Mumuni, General Secretary, have issued a statement calling for the resignation of SSNIT’s leadership.
They emphasized that those in power must step down to allow new individuals with a deeper understanding of the responsibility of managing pension funds to take over and restore public trust.
The initial decision to proceed with the transaction despite public outcry demonstrates a disregard for the welfare and sentiments of the broader population.
This action has eroded confidence in the board and management’s ability to manage pension funds and assets prudently and transparently.
The statement highlights the need for accountable leadership and responsible management of pension funds to ensure the well-being of beneficiaries.
The University Teachers Association of Ghana (UTAG) fully endorses the nationwide strike declared by Organized Labour on July 12, 2024.
In solidarity, UTAG has initiated the necessary procedures to embark on a nationwide strike, in accordance with our constitutional provisions.
This decision was not made lightly, but rather reflects our grave concern regarding the management of SSNIT’s investment interests and assets.
We believe it is essential to take a stand and advocate for responsible handling of these funds, which are crucial to the well-being of our members and the broader population.
