Former Chief Justice, Sophia Akuffo, has criticized the recent botched sale of SSNIT shares in hotels as indicative of a broader problem in Ghana.

She claims that those responsible for managing state institutions often intentionally deplete and sell assets among themselves, a practice detrimental to the country’s interests.

In a TV3 interview, Madam Akuffo expressed that she was unsurprised by SSNIT's justifications, noting that such practices have long been prevalent in the public sector.

“Of course, SSNIT will justify it because they have run down the hotels, and just like in the public sector, a lot of public properties have been run down just so that the value will be run down, and always at the end of some cycle or the other, they do sweetheart deals and do this distribution among themselves. SSNIT can say I have defamed them, but I don’t care.”

Sophia Akuffo explained why the attempt to sell SSNIT shares to Rock City Hotel, owned by Minister of Food and Agriculture Bryan Acheampong, was fraught with conflict of interest and detrimental to the country's interests.

“Yes, of course, because conflict of interest is conflict of interest. You can’t be the judge and the jury, you can’t be the lawyer and the judge, you can’t be the litigant, and after you have given your evidence and everything, your lawyer has done his submission, and it is time to determine the outcome, and now you are going to sit among the jury and you want to be part of that.”

“Conflict of interest is not defined by the individual. Sometimes a conflict of interest, when you are managing standards, it is part of the performance standards. When you are managing ethical standards, sometimes it is simply perception.

“Will a reasonable man in the street, if you were to tell them of this, what will they say about it? If here, you can surmise that they will say it smells, then it smells. When you are a public person, just because there is no law that says you cannot do it does not mean you should do it. Even in the Bible, it says I can do all things, but not all things are good.”

It is worth noting that on Friday, July 12, SSNIT's board of directors announced the cancellation of its plan to sell shares in the Labadi Beach, La Palm, Ridge Royal, and Elmina Beach hotels located in the Greater Accra and Central regions.

“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.