The New Patriotic Party appears increasingly desperate in its search for scandals across key state institutions — from COCOBOD and the Goldbod initiative to the Scholarship Secretariat and major Big Push infrastructure projects — as yet another high-profile allegation has been forcefully debunked.
The National Pensions Regulatory Authority (NPRA) has issued a strong rebuttal to claims by Old Tafo MP Vincent Ekow Assafuah, describing his allegations of pension fund mismanagement as “false, misleading, and unsubstantiated.”
In a detailed press release dated April 16, 2026, the Authority clarified its legal mandate, defended its administrative decisions, and addressed a range of accusations — from salary adjustments to procurement and infrastructure financing.
At the heart of the controversy is the claim that NPRA acts as a custodian of pension funds. The Authority firmly rejected this, stressing that under the National Pensions Act (Act 766), its role is strictly regulatory and supervisory.
“The NPRA does not hold, manage, or disburse pension funds,” the statement emphasised, pointing instead to its oversight role in ensuring compliance within Ghana’s three-tier pension scheme.
The Authority also dismissed claims regarding the salary of its CEO, Chris Boadi-Mensah, explaining that a 25 percent increment had been approved prior to his appointment and was part of an inherited compensation structure.
On infrastructure, the NPRA rejected assertions that it had secured a GH¢700 million loan using pension funds for its Dzorwulu office project, describing the claim as “completely false.” It clarified that the project remains under construction and that technical considerations informed early groundwork for future phases.
Similarly, allegations of extravagant vehicle procurement were debunked, with the Authority stating it owns only two Toyota Land Cruisers not seven as claimed and challenging the MP to provide evidence.
The engagement of pension consultant Kofi Anokye was also defended as lawful and necessary, particularly in efforts to expand coverage to Ghana’s largely informal workforce.
In its concluding remarks, the NPRA reiterated that all allegations lack factual basis, reaffirming its commitment to transparency and accountability.
The latest rebuttal adds to a growing pattern in which accusations targeting major public institutions including COCOBOD, Goldbod initiatives, the Scholarship Secretariat, and flagship development projects are increasingly being dismissed as unfounded, intensifying debate over political accountability and the credibility of corruption claims in Ghana’s public discourse.
