According to the Auditor-General’s report, SSNIT invested US$6.08 million in Ningo Salt Limited (NSL) in July, 2005, US$3,650,000 in Granite and Marbles Limited in July, 1994, and US$5,038,153 in Canada Investment Fund for Africa (CIFA) in June, 2005. The Auditor-General further directed the Management of SSNIT to investigate the non-performance of the investments to ensure value for money. In the case of Ningo Salt Limited (NSL), the US$6.08 million stated as loss has reduced to US$1.93 million. The investment was made in July 2005.c. On Granite and Marbles Limited, SSNIT managed to retrieve its unpaid Social Security Contributions of GH¢428,337.07. The investment was made in July 1994.d. On the Canada Investment Fund for Africa (CIFA), the Trust has recovered US$2,064,109 of the total investment.

Source: GhanaWeb August 14, 2021 06:33 UTC