Vincent Ekow Assafuah has received a detailed response from the National Pensions Regulatory Authority (NPRA) following allegations about its operations and leadership.
The Authority rejected the claims by Vincent Ekow Assafuah, describing them as inaccurate and unsubstantiated.
The NPRA says claims about its headquarters project are misleading and do not reflect the current situation. According to the Authority, Phase 1 of the project remains under construction and is not yet complete, making relocation impossible at this stage.
“A simple visit to the construction site will confirm this fact,” the statement said, urging the public to independently verify the status of the building located at Dworwulu along the N1 Highway.
On the issue of Phase 2, the NPRA explained that the design and scope of the project predate the appointment of its Chief Executive, Christopher Boadi-Mensah.
It added that consultants engaged under previous management advised that the Phase 2 foundation and ground floor park must be constructed alongside the completion of Phase 1 to avoid future structural and operational disruptions.
Based on this technical advice, the Authority said it initiated processes to raise funding for Phase 2, stressing that claims of a 700 million cedis loan backed by pension contributions are completely false.
NPRA Responds to Salary Allegations
The NPRA also addressed claims that its chief executive doubled his salary upon assuming office. It described the allegation as entirely untrue and without basis.
According to the Authority, the previous board approved a 25 percent salary increment in September 2024, which took effect on 1 January 2025, before the current CEO assumed office.
The NPRA explained that this approved structure was already in place and was used to determine the exit packages of former executives. It maintained that the claim by Vincent Ekow Assafuah could have been clarified through basic verification.
Authority Denies Vehicle Procurement Claims
The NPRA further dismissed allegations that it spent 50 million cedis on seven Land Cruiser vehicles. It stated clearly that no such procurement has taken place. According to the Authority, only two Land Cruiser vehicles were purchased, in 2023 and 2026 respectively, contradicting claims of excessive spending.
The NPRA challenged Vincent Ekow Assafuah to provide verifiable evidence to support the allegation, insisting that the claim is false and unsupported.
The NPRA reiterated its commitment to transparency and due process, stating that its decisions are guided by established procedures and in the best interest of pension contributors.
It urged the public to disregard what it described as misleading claims, reaffirming its mandate to protect pension funds and ensure responsible management.
