The National Pensions Regulatory Authority (NPRA) has firmly rejected allegations against its chief executive, describing them as false and misleading. The NPRA issued the response after claims by the Minority Member of Parliament for Tafo, Vincent Ekow Assafuah, during a press conference on Thursday. The MP accused the NPRA Chief Executive, Christopher Boadi-Mensah, of financial mismanagement and questionable administrative decisions. However, the NPRA in a statement categorically denied all the allegations.
Allegations Raised by Minority MP
Speaking at the press conference, Vincent Ekow Assafuah questioned the Authority’s financial decisions. He raised concerns about the use of pension funds and the status of the NPRA headquarters project.
“The first phase of the NPRA headquarters, a state-of-the-art facility along the N1 Highway, also known as the George W. Bush Highway, was financed through IGF, derived from approximately 0.33% of the 2.5% pension administration fees,” he said.
He added that the facility remains uncommissioned despite years of investment.
“Some 3-4 years ago, the NPRA committed a lot of money in building the first phase of the headquarters of the NPRA. And today, if you move along the N1 Highway, that facility is there, uncommissioned, unused.” The MP further alleged that the CEO is pursuing an expansion project. “We have a sitting NPRA CEO who has also taken pensioners’ money, about $700 million Ghana cedis, to go and expand that headquarters.”
He questioned the timing and necessity of the proposed Phase 2 project. “A headquarters that you have not even used. A headquarters that you have not even commissioned.” He argued that the funds could generate higher returns if invested differently. “Now, the problem is that if that money is given to fund managers to manage, the interest that will accrue to pensioners will be about 20%. He is paying less than 7% or 8%.”
The MP also raised concerns about governance decisions within the Authority. “There are also concerns regarding internal administrative decisions, including rapid promotions and appointments.” He cited the reported appointment of a personal aide to a managerial role.
“Reports indicate the appointment of a personal aide, reportedly a veterinary doctor, who has been elevated to the position of assistant manager.” He further questioned the creation of a new directorate. “A further governance issue requiring urgent scrutiny relates to the creation of a new directorate for micropensions.” According to him, the directorate comes with significant financial implications. “We are informed that this new directorate has been established with the appointment of one Mr. Daganu as director, a position reportedly carrying an estimated monthly salary burden approximately 100,000 Ghana cedis to the pension contributor.” He also alleged duplication of costs involving a consultant.
“Despite the establishment of a fully-fledged directorate for micropensions, Mr. Chris Boadi mensah is also reported to have appointed the former CEO, the former Chief Executive Officer of the NPRA, Kofi Anokye, who served during the first administration of His Excellency John Dramani-Mahama as a consultant on micropensions at a reported cost of 4 million Ghana cedis.” He described the situation as a burden on pension contributors. “That is the duplication of costs to the ordinary pensioner.” The MP further alleged salary adjustments without due process.
“A particularly disturbing issue has emerged. We are informed that Mr. Boadi mensah doubled his salary immediately upon assumption of office in February 2025 without a board approval.”
NPRA Responds to Claims
The NPRA has rejected all the allegations. The Authority insists the claims are false and deliberately misleading. It maintains that its operations remain transparent and guided by due process. The NPRA further assured the public that pension funds are managed responsibly. The Authority reaffirmed its commitment to protecting the interests of contributors. It also urged the public to disregard what it described as unfounded claims.
