The University Teachers Association of Ghana (UTAG) has declared its full support for the nationwide strike action initiated by Organized Labour on July 12th, 2024. The decision comes in response to concerns over the recent controversial investment decision made by the Social Security and National Insurance Trust (SSNIT) Board.
In a press statement released on 13th July, 2024, UTAG expressed deep concern over what it perceives as “bad judgement and poor corporate governance skills” demonstrated by the SSNIT Board and top management.
The association cited the board’s decision to proceed with such a controversial investment despite widespread public outcry as a sign of disregard for public sentiment and welfare.
“This action has undermined confidence in the Board and Management’s capacity to manage our pension funds and assets prudently and transparently,” the statement reads.
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UTAG is demanding not only the termination of the sale, as stipulated by Organized Labour, but also the immediate dissolution of the SSNIT Board and the resignation of its top management.
The association believes their involvement in the controversial transaction highlights a critical lapse in judgment and accountability and underscores a lack of understanding of public trust.
“Those in positions of power within SSNIT must step down to allow new people with a better appreciation of the enormity of the responsibility of managing pension funds to take over and restore public trust,” the statement asserts.
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UTAG also advocates for greater participation of Organized Labour in the management of SSNIT, with minimal interference from the government and political appointees.
“We are resolute in our unity with Organized Labour in this struggle to safeguard the interests of our members, the ordinary Ghanaian Workers and Pensioners,” Prof. Mamudu A. Akudugu, National President of UTAG, stated in the press release.
“We call upon all stakeholders to acknowledge the seriousness of this situation and stand with us in demanding the fundamental principles of transparency, accountability, and integrity in managing our pension funds.”