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NPRA Directs SSNIT to Suspend Sale of Hotels to Rock City

SSNIT, which is currently engaging Rock City Limited as the Strategic Investor in the sale of four hotels has faced widespread backlash over the transaction

The National Pensions Regulatory Authority (NPRA) has directed that the Social Security and National Insurance Trust (SSNIT) suspend ongoing negotiations over the sale of four hotels to Rock City, the company owned by Minister of Food and Agriculture, Bryan Acheampong.

SSNIT, which is currently engaging Rock City Limited as the Strategic Investor in the sale of the hotels has faced widespread backlash over the transaction. Many, including the MP for North Tongu, Samuel Okudzeto Ablakwa, who has been at the heart of a crusade to halt the transaction, have raised issues of conflict of interest and corruption. But SSNIT maintains no wrongdoing.


Read Also: Ablakwa Leads Protest Against Sale of SSNIT Hotels

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The NPRA however, in a letter dated June 28, 2024, asked that the transaction be suspended, as it carries out further engagements with the Minister for Pensions and relevant stakeholders.

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“Further directives shall be issued to you on the subject matter as soon as we conclude our engagements and the evaluation of the relevant facts associated with the subject matter.”

 

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