Former Board Chairman of the Social Security and National Insurance Trust (SSNIT), Prof Joshua Alabi, has said due diligence was conducted concerning the two housing projects by the Trust in Accra, refuting allegations that no value for money audit was done before commencement of the projects.
He said viability appraisal was conducted before construction work on the projects, which comprises 608 housing units at Dunkonah and 1,760 housing units at Klagon, were undertaken in partnership with Regimmanuel Limited.
This was contained in a statement on Wednesday, August 30 in which he elaborated that the assessment involved “sensitivity analysis and established the financial viability of the said project”.
“This report went to the board, was analysed before the decision to approve the investment was done,” the statement added.
The statement was meant to clarify reports that a decision to conduct a value for money audit and post implementation audits on the projects was not undertaken during his tenure as Board Chair of SSNIT.
On the contrary, Prof Alabi said his team rather saved the project due to several reasons, one of which was that: “The Dunkonah land situated close to the West Hills Mall was bought over 10 years back. SSNIT was losing the land through encroachment and this exacerbated as soon as the mall was completed.”
Source: Ghana/AccraFM.com
