SSNIT Throws Away US$254million Of Pensioners Money Given Away As Loans – Bright Simons Blows Cover

IMANI Ghana's Vice President accountable for Research, Mr. Splendid Simons, has featured a 97.4% misfortune in the aggregate sum of credits that the Social Security and National Insurance Trust (SSNIT) progressed organizations. 

In a tweet remarking on SSNIT's 2020 yearly report, he calls attention to that the rates convert into an astounding $254million. 

Furthermore, the sum is out of an aggregate of US$300million that SSNIT gave out in advances. 

"Ghana's biggest benefits reserve, the State-claimed SSNIT, per its most recent distributed yearly report, has given Corporate advances adding up to $300m, of which an astounding $254m have so far turned sour," he tweeted. 

Mr. Simons then, at that point gives a postponing of the misfortunes which shows that the credits had been progressed to the monetary, administration, assembling and Real Estate areas. 

"For those finding out if anything has changed since 2018, the appropriate response is yes. 97.4% of the advance book has turned sour as of the 2020 monetary year ($299m/300m). for the individuals who favor IFRS 9 language, 97.4% of credits are "stage 3 debilitated" per the Auditor. Probably, that sounds better," he composed.

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