The Social Security and National Insurance Trust (SSNIT) management has disputed an accusation made in the Auditor-2020 General's report.According to the article, SSNIT secured an ADB loan guaranteeing a $17 million facility for the Intercity State Transport Company to purchase a new fleet of buses.

0

The investigation criticized the choice, noting that despite SSNIT's significant exposure to the company as the majority shareholder, it would still be obligated to pay if STC failed to repay the loan.But speaking at the Public Accounts Committee hearing, Director-General for SSNIT, John Ofori-Tenkorang refuted the findings of the Auditor-General.

1

According to him, management of STC rather approached SSNIT for a loan which was rejected given the failure of the company to honour previous loans.Mr. Ofori-Tenkorang argued his outfit never served as a guarantor for the loan STC took from ADB.

2