• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, May 14, 2026
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result
in Insurance, Finance

SSNIT Gives Deadline On Ghana Card Merger

M.Cby M.C
December 16, 2021
Reading Time: 3 mins read
SSNIT Office

SSNIT Office

Mr. Charles Akwei Garshong, SSNIT’s Acting Public Affairs Officer, has revealed that workers who do not merge their SSNIT numbers with Ghana Card by December 31, 2021, will be unable to access social security-related information through SSNIT.

Mr. Garshong averred that employers will be required to process contribution reports and make payments using only their employees’ NIA numbers beginning in 2022 should they fail to comply with the directive.

The trust encouraged its members to link their Ghana cards to the scheme for all social security services before December 31, 2021. According to the Trust, if members accept this policy, it will make life easier for both sides.

 Mr. Garshong emphasized the value of the Ghana Card, stating that after the merger, members will no longer need to carry two cards because one will suffice.   He further stated that the merging will prevent members of the trust from having to memorize both the SSNIT and Ghana card numbers because one will be enough.

ADVERTISEMENT

“The use of Ghana card will also enable nominated dependents of deceased members to be easily identified as it will avoid unnecessary delays, reduce fraud and impersonation in processing and paying survivors’ benefits.

“Despite it being a legal requirement and a directive from the National Pensions Regulatory Authority, the use of Ghana card will also eliminate the cost associated with the print of SSNIT biometric cards as the printing of the SSNIT cards comes as a cost to the member.”

Mr. Garshong

Low Ghana Card Merger in the Northern Region

Festus Darko Preko, the Tamale Area Manager for SSNIT, claims that the Northern Region’s low merger rate is due to the lack of Ghanacard.  He intimated that Only 30% of eligible persons in the Northern sector have complied with the instruction with only weeks until the deadline for members of the Social Security and National Insurance Trust (SSNIT) to merge their numbers with their National Identification Authority (NIA) numbers.

“Since the introduction of the directive, however, only 30 percent of SSNIT members in the Northern sector are said to have had their cards merged. The low registration is attributed to the inability of many to register and get access to the NIA cards.”

Festus Darko Preko

To address the issue, he said the Trust has begun a series of awareness campaigns to ensure that employees and contributors sign up for the card, which will allow them to access their SSNIT numbers.

“SSNIT is reminding employers to ensure their staff register for the NIA cards and impress upon them the importance of merging the accompanying numbers with their social security numbers.”

Festus Darko Preko

The change was made to guarantee that services are delivered in a timely and effective manner. In June, SSNIT deployed systems that allow members of the Scheme to merge both numbers, in accordance with directives from the National Pensions Regulatory Authority (NPRA), which requires the use of the NIA card, also known as the Ghana Card, as the primary means of identification for transactions pertaining to individuals in respect of pensions.

This, according to the Trust, will be required to access information starting in 2022 and to provide members with convenience and comfort in all interactions with the Trust.

READ ALSO: Absa Bank Head Office Relocation “Long Overdue”- BoG Governor

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Tags: Ghana cardmergerSSNIT
Share3Tweet2ShareSendSend
Please login to join discussion
Previous Post

BoG Over Using Monetary Policy To Fight Inflation – Economist

Next Post

Residents Vaccination Hesitancy, a Major Concern- V/R Heath Director

Related Posts

Absa Bank Ghana Empowers Academic City University College With Money Skills
Banking

Absa Bank Ghana Empowers Academic City University With Money Skills

May 14, 2026
Access Bank Strengthens Ashanti With Strategic Investment
Banking

Access Bank Strengthens Ashanti With Strategic Investment

May 14, 2026
United Bank for Africa Posts Industry’s Lowest Bad Loan Ratio United Bank for Africa Ghana has delivered one of the most remarkable performances in Ghana’s banking industry, emerging with the lowest non-performing loan ratio in the sector and setting a new benchmark for prudent lending, asset quality, and corporate discipline. At a time when banks across emerging markets continue to battle rising credit risks, economic uncertainty, and pressure on asset quality, UBA Ghana’s latest financial performance has become a standout success story. The bank’s Non-Performing Loan ratio, which stood at 29.40 percent in 2021, has dropped sharply to an impressive 2.11 percent in 2025. This exceptional improvement places the bank well ahead of regulatory expectations and significantly below the target set by the Bank of Ghana, which requires banks to maintain bad loan ratios below 10 percent by June 2026. The numbers tell a powerful story of strategic execution, disciplined lending, and a leadership team committed to sustainable growth. Bad Loans Fall Dramatically The bank’s total non-performing loans have also seen a dramatic reduction over the four-year period. From GH¢334 million recorded in 2021, the figure has now dropped to just GH¢28 million in 2025. Industry analysts say this sharp decline reflects a deliberate and aggressive approach to loan portfolio management, one that prioritizes risk identification, credit discipline, and rapid intervention. For many financial observers, this is not merely a statistical improvement. It is evidence of a bank that has transformed its internal credit systems and strengthened its ability to manage lending risk in a highly competitive market. UBA Ghana’s performance is being viewed as a model for other financial institutions seeking to improve balance sheet quality while still expanding lending activities. Strong Risk Culture Drives Results According to Kenneth Amponsah, the achievement did not happen overnight. He explained that the bank adopted a consistent and structured approach to managing credit risk across every stage of the lending cycle. He noted that the improvement in the bank’s loan quality was the result of stronger lending standards, improved loan screening procedures, tighter monitoring systems, and faster recovery mechanisms. The bank’s risk management strategy focuses on ensuring quality at the point of loan origination while maintaining strict oversight throughout the life of each facility. This includes strategic portfolio planning, efficient approval processes, proper documentation, collateral verification, real-time account monitoring, and proactive loan recovery. Banking experts say such a full-cycle approach is critical in today’s economic environment, where loan defaults can quickly erode capital and investor confidence. Recovery Efforts Yield Strong Returns One of the strongest drivers behind the bank’s improved asset quality has been its recovery operations. UBA Ghana has significantly strengthened its debt recovery framework, resulting in consistent gains over the years. In 2025 alone, loan recoveries reached an impressive GH¢168 million, highlighting the effectiveness of the bank’s recovery teams and internal enforcement systems. This strong recovery performance has helped the bank clean up its balance sheet while improving liquidity and strengthening capital resilience. Analysts believe the recovery figures also demonstrate the bank’s ability to engage customers proactively while maintaining professional relationships and ensuring compliance. Leadership Applauds Team Performance Commenting on the achievement, Bernard Gyebi praised the collective effort of the bank’s staff, management, and board. He said the milestone reflects the dedication and discipline of Relationship Managers, Risk teams, Executive Management, and Board members who have all contributed to building a resilient institution. According to him, UBA Ghana remains focused on balancing business growth with sound risk management practices. He emphasized that the bank is intentional about creating long-term value for shareholders, customers, and regulators while maintaining high standards of governance and accountability. His remarks underline the bank’s broader strategy of building a strong institution capable of supporting businesses and contributing to national economic growth. Setting the Pace for Ghana’s Banking Sector Industry observers believe UBA Ghana’s latest achievement reflects broader improvements within Ghana’s banking sector, which has undergone major reforms in recent years. However, they note that UBA Ghana’s performance stands out because of the speed, consistency, and scale of its transformation. By bringing its bad loan ratio down to just 2.11 percent, the bank has positioned itself as one of the safest and most disciplined lenders in the market. As competition intensifies and regulatory standards become stricter, UBA Ghana’s performance could serve as a benchmark for banks seeking to combine profitability with responsible lending. With strong governance, effective execution, and a clear commitment to excellence, UBA Ghana appears firmly positioned to sustain its leadership in Ghana’s evolving financial sector. READ ALSO: Tema Manhean Facility To Halt Fisheries Value Leakage United Bank for Africa Posts Industry’s Lowest Bad Loan Ratio
Banking

United Bank for Africa Posts Industry’s Lowest Bad Loan Ratio

May 13, 2026
Banks Exit Survival Mode With Strong Buffers
Banking

Banks Exit Survival Mode With Strong Buffers

May 12, 2026

Sign Up to Our Newsletter

Fresh updates, Straight to your inbox

Recent News

Ing. Kenneth Ashigbey, the Chief Executive Officer of the Ghana Chamber of Mines.

Chamber of Mines Warns Against State Ownership Failures Amidst IEA Policy Dispute

May 14, 2026
Dr. Kenneth Ashigbey, the Chief Executive Officer of the Ghana Chamber of Mines.

Let Data and Science Drive Ghana’s Mining Policy Debate – Kenneth Ashigbey

May 14, 2026
Hon. Sampson Ahi, Deputy Minister for Trade, Agribusiness and Industry at the 2026 Let Africa Go Conference

“Let Africa Go” Conference Targets Ethical Anchor In Trade Growth

May 14, 2026
Vance Signals US Indifference To India-Pakistan Conflict

Vance Hails Anti-fraud Task Force’s Efforts

May 14, 2026
Mr. Noah Tumfo, Chief Director of MoTAI

MoTAI Vets Global Agribusiness Merger Under ECOWAS Rules, Invites Feedback

May 14, 2026
Next Post
Residents Vaccination Hesitancy a Major Concern- V/R Heath Director

Residents Vaccination Hesitancy, a Major Concern- V/R Heath Director

The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address