• About
  • Advertise
  • Privacy Policy
  • Contact
Friday, May 9, 2025
  • 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

TUC Silent as SSNIT Loses $66 Million

March 14, 2025
Lilian Ahedorby Lilian Ahedor
in General News
0
SSNIT scandal

SSNIT

The Trades Union Congress (TUC) has come under scrutiny for its apparent silence over the loss of $66 million by the Social Security and National Insurance Trust (SSNIT) following the discontinuation of the trial of former Director-General Ernest Thompson.

Patrick Kwarteng Sarpong, a staunch supporter of the New Patriotic Party (NPP), has questioned the TUC’s lack of response, describing it as a concerning display of selectivity. 

According to him, the union’s leadership appears indifferent to the financial implications of the case.

RelatedPosts

Judicial Resignation Row: Mahama Risks Oath Violation

Probe Into Thompson’s Visit to Afenyo-Markin Demanded

President Mahama Petitioned To Audit APCs Procurement 

“Is the Trades Union Congress in a coma? Is TUC sleeping? Why is TUC fiddling whilst SSNIT is bleeding to death? Where from this nauseating selectivity by the leadership of TUC?” 

Patrick Kwarteng Sarpong

Sarpong pointed out that Ernest Thompson, who had been on trial over the controversial $66 million SSNIT Operational Business Suite (OBS) project, has now been acquitted following the Attorney General’s decision to discontinue the case. 

Ernest Thompson and SSNIT
Ernest Thompson, Former Director-General- SSNIT

He explained that Thompson initially faced 29 charges related to the procurement of the OBS system, but over time, these were reduced to just two counts—conspiracy and willfully causing financial loss to the state. 

Sarpong emphasized that the case had been closely watched by the public, given its implications for financial accountability and transparency within state institutions. 

He questioned whether the decision to drop the case signaled a shift in the government’s approach to tackling corruption or simply highlighted weaknesses in the prosecution’s case.

He recalled that Mr. Thompson and four others had been dragged to court in 2018 over alleged financial mismanagement in the OBS project, which was aimed at revamping SSNIT’s operations.

“The former Director-General of SSNIT is officially walking free because the Attorney-General and Minister of Justice, Dr. Dominic Ayine, has decided to discontinue the case on the instructions of President John Dramani Mahama.” 

Patrick Kwarteng Sarpong

Sarpong stated that Thompson and his co-accused initially faced multiple charges, including willfully causing financial loss to the state, conspiracy to commit a crime, defrauding by false pretense, violating the Public Procurement Act, and forging documents. 

However, he noted that all these charges have now been dismissed, effectively clearing them of any legal wrongdoing.

TUC’s Selective Outrage Questioned

Furthermore, Sarpong contrasted the Trades Union Congress’s strong opposition to Bryan Acheampong’s attempt to acquire SSNIT’s shares in a subsidiary company with its silence on the $66 million financial loss. 

He recalled how the TUC vehemently protested Acheampong’s bid, holding press conferences and issuing threats that ultimately forced the government to halt the transaction. 

Trade Union Congress, Ghana on SSNIT Issues
Trade Union Congress, Ghana

However, he questioned why the same level of outrage has not been directed at the loss incurred from the discontinuation of Thompson’s case.

“A case involving US$66 million of pension funds has been truncated on the flimsy opinion of the Attorney General, and TUC is deafeningly silent about it.”

Patrick Kwarteng Sarpong

According to Sarpong, this selective response indicates that TUC’s leadership was more politically motivated in its stance against Acheampong’s deal than genuinely concerned about SSNIT’s sustainability.

Sarpong also accused the TUC’s leadership of prioritizing political interests over the welfare of pensioners and SSNIT contributors.

“TUC’s leadership doesn’t care if SSNIT loses millions of dollars as long as their parochial interests are served along the line. How this revered trades union body has allowed politics to creep into its operations is beyond one’s imagination.”

Patrick Kwarteng Sarpong
Bryan Acheampong and the SSNIT scandal
Bryan Acheampong and the SSNIT Hotel Scandal

The NPP supporter cautioned that pensioners face significant risks under Mahama’s leadership, alleging that SSNIT is being manipulated by individuals pursuing personal and political interests. 

He argued that the institution has been infiltrated by partisan actors who prioritize their own gains over the welfare of pensioners, making SSNIT’s future uncertain under the current administration.

Sarpong’s remarks come at a time when concerns about SSNIT’s financial stability have intensified. 

The institution, which manages pension funds for millions of Ghanaians, has faced multiple financial controversies in recent years.

While government officials have attempted to justify the discontinuation of Thompson’s case, critics argue that dropping corruption-related charges without proper justification erodes public trust in state institutions.

As the debate over SSNIT’s financial health and TUC’s silence continues, many are calling for transparency and accountability in how the nation’s pension funds are managed.

Sarpong’s assertions raise serious questions about TUC’s role as a watchdog for workers’ interests. 

The apparent discrepancy in the union’s reactions to different SSNIT-related issues fuels suspicions of political bias.

With millions of Ghanaian workers depending on SSNIT for their future retirement security, the need for unbiased advocacy and genuine oversight has never been more crucial.

READ ALSO: Justin Bieber Shares Emotional Message On Personal Struggles

Tags: Ernest ThompsonNPPPension fundsSSNITTUC
Please login to join discussion
Previous Post

President Mahama Appoints New Security Chiefs

Next Post

Ohemaa Woyeje Details Internal Struggles at Angel FM

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

AngloGold Ashanti Boosts Obuasi SMEs with Nationwide Business Exposure Tour
Vaultz Business

AngloGold Ashanti Boosts Obuasi SMEs with Nationwide Business Exposure Tour

May 9, 2025
Electrical Energy
Extractives/Energy

Powering Ghana’s Future with Sustainable Electricity 

May 9, 2025
Ukrainian flag
Europe

Ukraine Alleges Hungarian Espionage

May 9, 2025
Starmer’s Anti-Newt Drive May Breach EU Deal
UK

Starmer’s Anti-Wildlife Drive May Breach EU Deal

May 9, 2025
Mahama and judicial resignation
General News

Judicial Resignation Row: Mahama Risks Oath Violation

May 9, 2025
US President, Donald Trump Proposes Major Chinese Tariff Rollback Ahead of Trade Talks
USA

Trump Proposes Major Chinese Tariff Rollback Ahead of Trade Talks

May 9, 2025
AngloGold Ashanti Boosts Obuasi SMEs with Nationwide Business Exposure Tour
Vaultz Business

AngloGold Ashanti Boosts Obuasi SMEs with Nationwide Business Exposure Tour

by Stephen M.CMay 9, 2025
Electrical Energy
Extractives/Energy

Powering Ghana’s Future with Sustainable Electricity 

by Prince AgyapongMay 9, 2025
Ukrainian flag
Europe

Ukraine Alleges Hungarian Espionage

by Comfort AmpomaaMay 9, 2025
Starmer’s Anti-Newt Drive May Breach EU Deal
UK

Starmer’s Anti-Wildlife Drive May Breach EU Deal

by Lawrence AnkutseMay 9, 2025
Mahama and judicial resignation
General News

Judicial Resignation Row: Mahama Risks Oath Violation

by Lilian AhedorMay 9, 2025
US President, Donald Trump Proposes Major Chinese Tariff Rollback Ahead of Trade Talks
USA

Trump Proposes Major Chinese Tariff Rollback Ahead of Trade Talks

by Comfort AmpomaaMay 9, 2025
AngloGold Ashanti Boosts Obuasi SMEs with Nationwide Business Exposure Tour
Electrical Energy
Ukrainian flag
Starmer’s Anti-Newt Drive May Breach EU Deal
Mahama and judicial resignation
US President, Donald Trump Proposes Major Chinese Tariff Rollback Ahead of Trade Talks
[/vc_row_inner]

Recent News

  • AngloGold Ashanti Boosts Obuasi SMEs with Nationwide Business Exposure Tour
  • Powering Ghana’s Future with Sustainable Electricity 
  • Ukraine Alleges Hungarian Espionage
  • Starmer’s Anti-Wildlife Drive May Breach EU Deal
  • Judicial Resignation Row: Mahama Risks Oath Violation
The Vaultz News

Copyright © 2021 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 © 2021 The Vaultz News. All rights reserved.