Ablakwa Demands Transparency on SSNIT Hotel Deal from NPRA The Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, has called on the National Pensions Regulatory Authority (NPRA) to release the findings of its review of the controversial SSNIT hotel deal. Ablakwa made the demand in a letter to the Director-General of NPRA, demanding the publication of the outcome of the review. He cited concerns raised by the Auditor-General’s report, which had questioned the transparency and accountability of the deal. “The Auditor-General’s report raises serious concerns about the procurement process, the absence of due diligence, and the failure of SSNIT to follow its own internal procurement procedures. It is imperative that the NPRA, as the regulator of the pension industry, investigates these matters thoroughly and makes its findings public,” Ablakwa wrote. The SSNIT hotel deal, which involved the purchase of two hotels at a cost of approximately $72 million, has been plagued by allegations of corruption and mismanagement. The Auditor-General’s report found that the procurement process was not competitive and that SSNIT had failed to obtain the necessary approvals from its board. Ablakwa argued that the NPRA has a responsibility to ensure transparency and accountability in the pension industry. He said that by withholding the findings of its review, the NPRA was “failing in its duty to protect the interests of SSNIT contributors.” “The Ghanaian people deserve to know whether their pension funds are being managed prudently and transparently. The NPRA has a duty to provide this assurance by publishing the outcome of its review,” Ablakwa added. The NPRA has yet to respond to Ablakwa’s request. The outcome of the NPRA’s review is expected to shed light on the transparency of the SSNIT hotel deal and provide recommendations for improving governance and accountability in the pension industry.North Tongu MP Demands Publication of NPRA Review on Sale of SSNIT HotelsNorth Tongu MP Demands Publication of NPRA Review on Sale of SSNIT Hotels North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has called for the release of the National Pensions Regulatory Authority (NPRA) review into the proposed sale of four SSNIT hotels. His demand comes after Employment Minister Ignatius Baffour Awuah claimed that the NPRA had given SSNIT the green light to proceed with the transaction. NPRA’s Directive and Minister’s Claim On June 28, the NPRA ordered the suspension of all processes involving Rock City Hotel Limited as a strategic investor for the hotels. However, Minister Awuah asserted in Parliament that the NPRA had subsequently approved the sale, citing the authority’s request for additional information which had been provided by SSNIT. Ablakwa’s Challenge Ablakwa has disputed the minister’s claim, highlighting the concerns raised by the transaction advisor, SEM Capital. According to SEM Capital’s report, Rock City was granted preferential terms, including a partial payment and extended payment period. Ablakwa contends that this constitutes insider trading and discrimination. Demand for NPRA Review Publication Ablakwa has challenged the NPRA to publish its assessment report, arguing that if it is superior to the transaction advisor’s review, it should be made public for scrutiny. He has threatened large-scale demonstrations and labor strikes to oppose the sale. SSNIT Hotel Sale Controversy The proposed sale of the SSNIT hotels has been met with widespread criticism, with Ablakwa leading protests against the transaction. The concerns raised include allegations of underpricing, lack of transparency, and conflicts of interest. The NPRA review was commissioned to address these concerns and determine the suitability of the sale. Conclusion Ablakwa’s demand for the NPRA review publication reflects the ongoing controversy surrounding the SSNIT hotel sale. The outcome of the NPRA review and the government’s response to the public outcry will likely determine the fate of the transaction.The Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, has urged the National Procurement Authority (NPRA) to publish the outcome of its review of the Social Security and National Insurance Trust (SSNIT) hotel deal to ensure transparency. In a letter addressed to NPRA boss, Samuel Sallas-Mensah, Ablakwa expressed concerns about the lack of public disclosure of the review findings despite the NPRA’s announcement in August 2022 that it had completed its assessment of the controversial purchase of the Alisa and Labadi Beach hotels by SSNIT in 2014. Ablakwa emphasized the importance of transparency and accountability in public procurement processes, noting that the SSNIT hotel deal had been marred by allegations of corruption and mismanagement. He called on the NPRA to release the review report to address public concerns and restore confidence in the procurement system. “The NPRA has a duty to ensure transparency and probity in public procurement. The publication of the review findings will enhance public trust and accountability, and deter future instances of questionable procurement practices,” Ablakwa stated in his letter. The MP also expressed concern about the delay in releasing the review report, which he suggested could be interpreted as an attempt to shield wrongdoers or protect the reputation of SSNIT and individuals involved in the controversial transaction. He urged the NPRA to demonstrate its independence and commitment to transparency by promptly publishing the findings of its review and taking appropriate action based on the recommendations made. “The NPRA must not allow itself to be compromised or used as a tool to cover up corruption. The public deserves to know the truth about the SSNIT hotel deal, and the NPRA has a crucial role to play in ensuring that accountability prevails,” Ablakwa concluded.