The National Pensions Regulatory Authority (NPRA) has instructed the Social Security and National Insurance Trust (SSNIT) to halt the sale of four of its hotels to Bryan Acheampong, the Minister for Food and Agriculture. The NPRA’s directive is aimed at allowing further investigation into the matter.
In a letter addressed to the Director-General of SSNIT, the NPRA acknowledged the receipt of documents submitted on June 7, 2024, regarding SSNIT’s plans to engage Rock City Hotel Limited as the strategic investor for the sale of La Palm Royal Beach Hotel, Elmira Beach Resort, Busua Beach Resort, Ridge Royal Hotel, and Trust Lodge. The letter noted that the SSNIT team had provided additional insights during a meeting with the NPRA Board on June 25, 2024, but the discussions were not conclusive.
The NPRA emphasized its role under Section 7(g) of the National Pensions Act, 2008 (Act 766), which mandates the authority to regulate and monitor the implementation of the Basic National Social Security Scheme (BNSSS). In line with this, the NPRA directed SSNIT to suspend all processes related to engaging Rock City Hotel Limited as the strategic investor.
The NPRA is also in consultation with the Minister for Pensions and other relevant stakeholders. Further directives will be issued once these engagements and evaluations are concluded.
The NPRA Chief Executive Officer, John Kwaning Mbroh, signed the letter, which was also copied to the Honourable Minister for Pensions, the Board Chairman of the NPRA, and the Chairperson of SSNIT. The NPRA expressed its appreciation for the cooperation of SSNIT and its team in this matter.
Source : sankofaonline.com
