Government Shake-Up: Kofi Bosompem Osafo-Maafo Removed as SSNIT Director-General Amid Controversy
In a recent development, the government has revoked the appointment of Kofi Bosompem Osafo-Maafo as Director-General of the Social Security and National Insurance Trust (SSNIT). This decision comes amidst controversy surrounding the sale of SSNIT hotels and concerns about the trust's financial management.
According to sources close to SSNIT, the contracts of Osafo-Maafo's three deputies have also been terminated. The deputies, Kwame Adu-Darkwa, Juliana Kpedekpo, and Nana Serwah Bonsu Amoako, held key positions in finance, operations, and investments. No official replacements have been named, and the President is yet to appoint a new Director-General and deputies.
Osafo-Maafo's tenure as SSNIT Director-General was marked by controversy, particularly surrounding the sale of four hotels to RockCity Hotel, a private company owned by Agricultural Minister Bryan Acheampong. The sale was halted after North Tongu MP Samuel Okudzeto Ablakwa disclosed that the hotels were being undervalued. Ablakwa also accused SSNIT of engaging in a conflict of interest.
The controversy led to organized labor threatening to strike nationwide, demanding an overhaul of SSNIT's leadership. The sales were eventually canceled, but the incident raised concerns about SSNIT's financial management and transparency.
The International Labour Organisation (ILO) has also raised concerns about SSNIT's viability, projecting that the trust's reserves will be depleted by 2036. This would mean that SSNIT would no longer be able to pay pension benefits. The ILO's actuarial valuation study found that starting in 2029, total contributions, investment income, and other income would no longer be sufficient to pay for annual expenditures.
The government's decision to remove Osafo-Maafo and his deputies may be seen as an attempt to address these concerns and restore transparency and accountability to SSNIT. However, the move has also raised questions about the government's handling of the situation and the potential implications for SSNIT's future.
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