‘Significant initial victory’ — Ablakwa reacts to NPRA’s order halting SSNIT hotel sales

MP for North Tongu Samuel Okudzeto Ablakwa has praised the pension regulator's directive suspending SSNIT's sale of hotels to Agric Minister Bryan Acheampong's company.

In a social media post on Friday, June 28, Ablakwa said "The Power of the masses at work! National Pensions Regulatory Authority orders SSNIT to suspend sale of our hotels to Rock City."

He added "A significant initial victory but the battle is not over — more vigilance and even more resistance required. State Capture shall be defeated!"

The National Pensions Regulatory Authority (NPRA) had written to SSNIT, ordering the suspension of processes to engage Rock City as a strategic investor.

The NPRA letter dated June 28 noted "You are hereby directed by the Board of the Authority to suspend all the processes seeking to engage Rock City Hotel Limited as the Strategic Investor."

It acknowledged documents from SSNIT but said the board's meeting was inconclusive, citing its mandate to regulate pension investments.

The vocal lawmaker, has, in recent weeks, been kicking against the process leading to SSNIT choosing to divest its 60% shares in six hotels to Rock City, citing a conflict of interest and lack of due process.