...not to prejudice SSNIT investigations

Some Minority Members of Parliament have accused the Minister for Finance, Yaw Osafo-Maafo of prejudicing investigations into the financial transactions of the Social Security and National Insurance Trust (SSNIT).

Answering questions in Parliament, Osafo-Maafo said "SSNIT over the years notwithstanding representation on the board by the TUC, the Ghana National Association of Teachers (GNAT) and the Civil Servants Association has become the bastion of corruption and political patronage."

The Minister further stated that SSNIT was used as the "second central bank to the previous government, bankrolling both the Government and business interests associated with the Government."

The Minority Members including its Chief Whip, Doe Adjahoe and former Majority Leader, Dr. Kwabena Adjei said Osafo-Maafo's statement is prejudicial to the ongoing investigations into SSNIT and accordingly asked him to remove that part of his (Minister's) answer to a question on whether the government will consider breaking the monopoly of SSNIT.

Hon. Osafo-Maafo, MP, Akim Oda said his statement will not prejudice the investigation but maintained that the company is a bastion of corruption. He declined to provide evidence to back his claim saying those will be made known to the House at the appropriate time. He however maintained that SSNIT is corrupt adding he is convinced beyond doubt by the information available that the company is "a bastion of corruption".

Hon. Doe Adjahoe reminded the Minister of similar accusations he made in the budget statement that the previous government overdrew its accounts at the Bank of Ghana to the tune of 900 billion cedis which according to the Member turned out to be false. Adjahoe also noted that the Minister did not come back to the House to correct the "misinformation." He accordingly cautioned him to be careful in order not to jump to any conclusions before the investigations are concluded.

The Minister maintained that he did not misinform the House and the public as the Member sought to portray.

The operations of SSNIT has come under serious public scrutiny due to various allegations of financial malpractice levelled against it leading to the removal of its Director General and the subsequent dissolution of its Board.

Osafo-Maafo alleged that the Trust made investment in various non-existing companies, which are all under investigation.