The Fabewoso segment of Adom FM’s morning show Dwaso Nsem was very hot today as it emerged the state-owned pension trust State Security and National Insurance Trust (SSNIT) has once again misappropriated funds.
Captain Smart disclosed that SSNIT doled out a whopping 47 trillion cedis as loans to some companies without any collateral.
One of the companies, Bridal Trust Company Limited said to be a pain manufacturing company was allegedly given 14 billion cedis as a loan to import paints but are yet to pay their debt.
Also Golden Beach hotels were also given 76 billion cedis as loan to expand their facility without any collateral, according to documents available to Captain Smart.
All these loans, he noted were given to these companies when Mr. Ernest Thompson was the Former Director-General of SSNIT.