Bright Simons, Honourary Vice President of IMANI Ghana, has revealed that the previous management of the Social Security and National Insurance Trust (SSNIT) engaged in massive over-pricing in the award of contracts.

Mr Simons alleged on Accra-based Joy FM on Monday, August 28, that an IBM hardware sold on the market for $15,000 was bought for more than $500,000.

His comments come on the heels of an investigation by the Economic and Organised Crime Office (EOCO) into circumstances that led to the award of an initial contract of $34million by the SSNIT for a software installation which later became $66 million and subsequently, 72 million.

PricewaterhouseCoopers (PwC) has been contracted by SSNIT to audit the contract while EOCO has started probing the matter.

Commenting on the matter, Mr Simons, who is also the founding President of mPedigree said: "They want us to believe they bought it for more than 500,000 dollars. Are you crazy? We don't lie about stuff like that... It is a catalogue matter.

"A lot of the challenge is that, even though some of the items are perfectly mundane, they are being priced as if some specialist skills were needed.

"Anybody can go online, go to the producer's website and check the prices so you don't need a system integrator with some specialist skills. There is no procurement speciality in this thing.”