The Minority in Parliament has accused the management of the National Pensions Regulatory Authority (NPRA) of financial mismanagement, citing the payment of GH¢4 million to former Chief Executive Officer, Kofi Anokye, for consultancy services, among other expenditures.
Addressing a press conference on Thursday, April 16, 2026, the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, detailed what the Minority described as excessive and duplicative spending by the Authority.
According to the Minority, the NPRA organised a two-week foreign training programme at Bentley University in Boston for board members, directors, and senior management staff.
“It has been confirmed that NPRA undertook a two-week foreign training programme at Bentley University in Boston involving 11 board members, six directors, and senior management staff,” he stated.
He indicated that the cost of business class air travel alone for the 11 participants was substantial, claiming that accommodation and per diem allowances significantly increased the total cost.
“Hotel accommodation and per diem allowances hang around GH¢4 million, translating to well over GH¢8 million, excluding tuition, logistics, and incidental expenses which remain undisclosed,” he added.
The Minority questioned the necessity of the foreign training, arguing that it could have been conducted locally, citing institutions such as UPSA; and raised concerns about per diem payments, with the Minority alleging disparities.
“Even me, as a Member of Parliament, the per diem is about $496. But board members of NPRA say they have paid themselves $1,500,” he noted.
The Old Tafo MP further provided a breakdown, stating that per diem payments for board members amounted to approximately GH¢2.4 million, while payments to six directors were estimated at about GH¢700,000.
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The Minority also raised governance concerns over the establishment of a new micro pensions directorate.
“This new directorate has been established with the appointment of one Mr Dagan as director, carrying an estimated monthly salary of approximately GH¢100,000,” he said.
However, the Minority questioned the subsequent appointment of the former CEO as a consultant on micro pensions.
“If a dedicated directorate has already been created, why should pension contributors again bear an additional GH¢4 million consultancy fee for the same functions?” he queried.
The Minority also cited what it described as politically motivated staff transfers, stating that 11 transfers had been executed at an estimated cost of GH¢90,000 each, amounting to nearly GH¢1 million.
“Reports indicate the appointment of a personal aide who has been elevated to the position of assistant manager,” he said, stressing that public sector appointments must be based on merit, relevance, and institutional need.
“We call for the immediate suspension and independent review of the GH¢700 million Phase Two facility proposal,” he stated, raising questions about the selection of transaction advisors, procurement processes, repayment terms, and overall value for money.
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The Minority is demanding a full probe into the Authority’s financial and administrative decisions, insisting that accountability must be upheld in the management of pension funds.
Source: Starrfm.com.gh
