Former Chief Justice Madam Sophia Akuffo has defended her comments about the Social Security and National Insurance Trust (SSNIT) and their handling of hotel assets despite criticism from the institution.
During an exclusive interview on TV3’s Alfred Ocansey on July 25, 2024, Akuffo expressed her disregard for any claims of defamation by SSNIT in response to her remarks.
Akuffo had previously alleged that SSNIT deliberately allowed the value of their hotels to diminish to facilitate their sale at reduced prices, claiming this was part of a broader pattern of mismanagement and corruption. She argued that this would allow for sweetheart deals and self-serving distributions among insiders. When asked about the possibility of SSNIT suing her for defamation, she responded, “SSNIT can say I have defamed them, but I don’t care.”
The controversy arose from SSNIT’s decision to sell a 60% stake in four hotels, which faced significant criticism from various quarters, including labour unions and politicians. SSNIT defended the sale, claiming that the hotels had consistently recorded losses and needed to be sold to prevent further financial strain.
Akuffo commended the labour unions for their opposition to the sale, noting their role in halting the transaction. She criticized the notion that there was no conflict of interest in the deal, emphasizing the importance of perception. “The individual does not define conflict of interest. Sometimes, a conflict of interest when managing standards is part of the performance standards. When managing ethical standards, sometimes it is simply perception,” she stated.
She elaborated on her concerns, explaining that public figures should avoid actions that could be perceived as conflicts of interest, even if no specific laws prohibit them. Akuffo drew a parallel with biblical teachings, suggesting that just because something is permissible does not mean it is advisable or ethical.
The dispute over the hotel sale led to significant public and labour unrest, culminating in SSNIT’s decision to terminate the sale of its hotel shares. This decision followed directives from the National Pensions Regulatory Authority (NPRA), which required further evaluation and engagement.
The initial plan to sell the shares included a bid from Rock City Hotel, owned by Agriculture Minister Bryan Acheampong, which fueled accusations of favouritism and conflicts of interest. Despite NPRA’s initial approval, ongoing public opposition and the threat of a nationwide strike by labour unions ultimately led to the halt of the sale process.
Akuffo’s comments and the subsequent reaction highlight ongoing concerns about governance, transparency, and conflicts of interest in managing public assets in Ghana.
