The Social Security and National Insurance Trust (SSNIT) has terminated the sale of 60 per cent of its stake in four hotels.
This follows agitations and pressure by the Organised Labour to embark on a nationwide industrial strike on Monday, July 15 following approval by the National Pensions and Regulatory Authority (NPRA) for SSNIT to proceed with selling 60% shares in the four hotels.
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A statement released by SSNIT on Friday, July 12 announced to the public the termination of the controversial sale of hotel shares.
“The Board and management of Social Security and National Insurance Trust (SSNIT) wish to inform the public that the process to divest 60% of SSNIT’s stake in the hotels has been terminated,” Board Chair of SSNIT Elizabeth Akua Ohene said in the statement.
“We wish to assure pensioners, contributors and the public of our commitment to managing the affairs of the Trust prudently for the sustainability of the Pension Scheme,” the statement from SSNIT said.
