Former National Health Insurance Authority [NHIA] Chief Executive, Sylvester Mensah says there is absolutely nothing wrong for the scheme to invest its funds.
He, however, believes it is instructive due diligence is conducted before any decision is taken in that regard.
“It is not wrong for the scheme to invest whether in a bank or in a financial institution. It is legitimate and within the law,” he noted.
His comment comes on the back of claims by the opposition National Democratic Congress [NDC] that the NPP invested over GHc17 million funds belonging to the National Health Insurance Authority NHIA with the All Time Capital Limited, a private investment house.
Sylvester Mensah in an interview with NEAT FM’s morning show ‘Ghana Montie’ explained in detail what might led to a ‘wrong’ investment of the scheme.
Click to listen to the interview…
Source: King Edward Ambrose Washman Addo/Peacefmonline.com/ Twitter: @Washman5/ Instagram: Ambrose_wash
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I think it's S clear Case of causing financial lost to the state. is this I investment in line with the core business of the HHIS? Ghanaians are dying because claims can't be paid regularly and funds are misappropriated in the name of investment. how come that company was chosen for investment.
THE CEOs OF THESE GOVERNMENT INSTITUITIONS ARE JUST TRUSTEES FOR THOSE INSTITUITIONS THAT THE HEAD OR FOR THE GOVERNMENT. AND SO, ALL INVESTMENTS DONE FROM THE RESOURCES OF THESE INSTITUITONS MUST BE PAID BACK IN FULL WITH ALL THE ACCRUED INTEREST TO THE INSTITUITION. IT IS THEREFORE CRIMINAL FOR ANY CEO TO BENEFIT FROM THE PROCEEDS OF SUCH INVESTMENTS SINCE THEY (CEOs) ARE TRUSTEES AND MUST BEHAVE AS SUCH. TRUSTEES ARE NOT BENEFICIARIES EXCEPT OTHERWISE CLEARLY STATED AS ONE OF THEIR MANDATES TO BENEFIT FROM SUCH INVESTMENTS. EVEN WITH THAT THE COURT MUST APPROVE OF IT.
There is everything wrong with it. What is their core mandate? What happened to Westel Ghana limited? The one Tsatsu Tsikata formed with about $30 million of GNPC money years ago which NPP under Kuffour sold for $120 million to Zain? Didn't the Government back then say it was not their core mandate and that was a financial lost to the state and for that matter he and others were jailed? What happened to the Banana plantation that he left behind and the oil rig? Wasn't these thing sold by Nana Addo and KT Hammond as Attorney General and his deputy to Sociatel General(SG)? Mr. Mensah please give us a break,you have money to invest yet you owe claims. What fallacy?
Sammy Gyamfi should come out and apologise to the current administrators of the the National Health Insurance Scheme for peddling falsehood.Peddling of falsehood is abhored by the Holy Bible which I believe Sammy Gyamfi believe in unless he can prove otherwise. I have said it on several occasions that this young man is digging a ditch which he will fall in and end his political life for ever. The fact that the investment is standing in the books of the NHIA does not mean it was done by the present managers. Since it is a Balance Sheet item, it cannot be written off just like that. YOUR MISCHIEF HAS BACKFIRED BIG TIME.
Sylvester was investing on call at Energy Bank and taking huge margin . He thinks we don't know. Take 5% for NHIA and 6% for himself