10 facts you need to know about the SSNIT scandal

10 facts you need to know about the SSNIT scandal

- SSNIT is currently reeling under a $72 million dollars software scandal

- This scandal has seen 15 executives of the trust called for investigations by EOCO

- Click here for the latest stories in Ghana

Ghana has been hit by what one may term the greatest and most shady scandal of the 4th republic - the SSNIT scandal which has caused the nation in excess of $72 million dollars!

10 facts you need to know about the SSNIT scandal

10 facts you need to know about the SSNIT scandal

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So far, the Economic and Organised Crime Office (EOCO) has launched an investigation into the $72 million information system software procured by SSNIT which unfortunately is not working.

But even as YEN follows closely developments regarding this scandal, we managed to help you understand the development in very simple ways by highlighting the 10 facts surrounding this whole development.

1.This scandal started about 6 years ago after 10 firms expressed interest in providing the software in 2011.

2. The initial contract which was signed to have SSNIT get the software was by a company name - Perfect Business Systems &Silverlake Consortium in 2012 at a tune of 34 million dollars.

3. Officials from SSNIT were flown to Malaysia to embark on due diligence on this software and procurement process

4. It turned out that the initial contract of $34 million dollars was a wasted cause since the software failed to work

5. An attempt to fix the broken software increased the cost to $72 million dollars

6. SSNIT executives in Malaysia did something wrong, they signed the wrong contract as they signed for a Provident Fund IT infrastructure instead of a Social Security IT infrastructure.

7. More money, aside the $72 million dollars has been spent in order to make sure that the wrong software works

8. It was then realized that this contract excluded some 2.2 million dollars annual payments for software licence agreement.

9. More money continues to be spent on the customization of this wrong software which means figure will jump up from $72 million

10. EOCO has invited close to 15 of staff from SSNIT for intense investigations

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Source: Yen.com.gh

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