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Here Is Your Simple Explainer On The SSNIT Corruption Scandal

In Ghana, there are three things that are mostly common, bribery or corruption scandal, leaking of nudes and sex tapes and politicians at each other’s throat trying to score some cheap political points.

Week in week out, one of these usually become the center of attention. Most people talk about it and then after a week, a new thing comes and steals the spotlight.

The latest scandal is the alleged $72m corruption scandal at SSNIT.

Kuulpeeps, this is the government institutions tasked to collect contributions from Ghanaians so that those monies are paid back to them when they retire.

Mum and dad are currently paying SSNIT if they haven’t retired yet and if you’re working, then you are paying too.

So instead of managing your money effectively to ensure that they can pay you large sums of money when you finally retire, this institution took $72m of that money to build a software.

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That is very true, a company charged SSNIT $72m to build a software for them. That’s about GHS 288m if $1 is GHS 4.00.

Do you remember that much talked about GHS 51m Woyome money? Forget that, this is 5 times more than that. GHS 288M to develop a code.

Well, that’s not the shocker, if you’re standing then grab a seat, there is more.

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After spending over GHC 288m on the software, the software has failed to work. GHS 288m of your money flushed down the drain.

The initial contract sum was $34m (GHS 136M) but SSNIT failed to properly check the contract they signed, so when the software failed to function, the management couldn’t seek a refund.

Additional attempt to fix the oversight led to several added cost that more than doubled the initial cost.

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Just so you know, SSNIT is still paying the company for developing a software that they couldn’t use. Charley, Ghana has issues…

SSNIT is currently being investigated by the Economic and Organized Crime Office (EOCO).

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