Clearance of Labadi beachfront is to protect investments – SSNIT Board

By Iddi Yire, GNA Accra, Oct 02, GNA – The Board of Trustees of the Social Security and National Insurance Trust (SSNIT) has explained in a statement that Friday’s removal of unauthorised occupants from the beachfront of adjoining Labadi Beach Hotel and La Palm Royal Beach Hotel was to protect its investments.

It said SSNIT sought the urgent intervention of the National Security Council Secretariat to address the persistent unlawful occupation, encroachment, and unauthorised activities on the beachfront adjoining and directly in front of the Labadi Beach Hotel and La Palm Royal Beach Hotel.

The statement said SSNIT therefore had a fiduciary responsibility to safeguard these investments, preserve their value, and ensure that they continue to generate sustainable returns for the benefit of contributors and pensioners under the Basic National Social Security Scheme.