Reassigned NSA Boss Felix Gyamfi to Head Brand New Unclaimed Financial Assets Authority
- The former National Service Authority director general, Felix Gyamfi, is set to head a new state agency
- This development follows President John Mahama's reassignment of Gyamfi to the Ministry of Finance
- Ruth Dela Seddoh was appointed as the new Director-General of the National Service Authority
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The former National Service Authority boss, Felix Gyamfi, is set to lead preparatory works towards the establishment of a new state agency.
The agency will be known as the Unclaimed Financial Assets Authority in Ghana.
Source: Facebook
This development reported by 3News comes after Gyamfi was reassigned to the Ministry of Finance. He is expected to head the agency once it is operational.
A letter from the presidency to Gyamfi said the creation of the Unclaimed Financial Assets Authority of Ghana is a key institutional reform under the Government’s Reset Agenda.
“Your role will be pivotal in laying this Authority’s technical, administrative and operational foundation, which is expected to safeguard unclaimed funds and channel them productively for national development."
Gyamfi handed over to one of his deputies at the NSA before the latest posting.
About the Unclaimed Financial Assets Authority
The new authority will receive and securely hold unclaimed financial assets such as dormant bank accounts, unclaimed dividends, pension benefits, insurance policies, and other financial instruments.
It will also:
- Establish mechanisms to trace and return unclaimed assets to their rightful owners or beneficiaries.
- Educate the public on the existence of unclaimed financial assets and the procedures for claiming them.
- Ensure that institutions holding financial assets comply with reporting and remittance obligations as required by law.
- Invest unclaimed assets prudently until they are claimed, ensuring value is preserved or grown for the rightful owners.
- Monitor, enforce, and ensure compliance with the Unclaimed Financial Assets Act among holders such as banks, insurance firms, pension schemes, and listed companies.
- Maintain a central database of unclaimed assets and use research to improve policies and strategies for asset recovery and reunification.
Controversy over Gyamfi's reassignment
There was speculation that the decision to reassign Gyamfi was influenced by delays in the posting of new National Service Personnel following an audit of the service’s online portal.
According to media reports, there was a disagreement between the politician and his supervising Minister, George Opare Addo, over the NSA deployment portal for the 2025/2026 national service postings.
Source: Facebook
The Herald reported that this caused a six-week delay in registration for the 2025/2026 service year, affecting more than 130,000 graduates, while certificates for over 20,000 nursing personnel remain outstanding.
Opare Addo is reportedly pushing for the development of a new deployment portal to address loopholes uncovered as a result of the Fourth Estate's ghost names scandal, while Gyamfi maintained that the existing platform could be improved rather than replaced.
The authority is currently contending with a scandal from the Akufo-Addo administration.
Twelve individuals will be charged in connection with the theft of over GH¢548 million.
Ruth Dela Seddoh appointed NSA boss
YEN.com.gh reported that the Deputy Youth Organiser of the National Democratic Congress (NDC), Ruth Dela Seddoh, was appointed as the new Director-General of the National Service Authority (NSA).
Before being named head of the NSA, Dela Seddoh was the Second Deputy Director, serving under Gyamfi.
Proofreading by Samuel Gitonga, copy editor at YEN.com.gh.
Source: YEN.com.gh
