GHC17.5m NHIA cash locked up in All Time-Capital Limited – NDC reveals

A whopping amount totaling GH?17,548,377.20 belonging to the National Health Insurance Authority (NHIA) has been locked up at All Time-Capital Limited.

The amount, kasapafmonline.com understands, was used as investment in the distressed private financial company by managers of the NHIA some few months after the New Patriotic Party (NPP) had won power.

The National Communications Officer of the opposition National Democratic Congress (NDC), Sammy Gyamfi, who blew the cover while addressing journalists in Accra, Monday, about the state of the National Health Insurance Scheme (NHIS) which is managed by the NHIA, said managers of the Authority are finding it very difficult to retrieve the locked up investment fund which was paid in three tranches.

“Incontrovertible evidence to us indicates that despite repeated efforts by the scheme since November 2018 to retrieve the invested funds and accrued interest, All Time-Capital Limited has failed to pay back. In a recent twist which has angered some workers at the NHIA, All Time-Capital Limited informed the NHIA Chief Executive that it could only attempt some payments if the invested funds were allowed to run for an additional year”, said Sammy Gyamfi.

The situation, according to the NDC Chief Spokesperson, is contributing to the worsening financial fortunes of the NHIS.

All Time-Capital Limited, according to the NDC, was involved in the round-tripping of liquidity support provided by the Bank of Ghana that eventually culminated in the establishment of the collapsed Sovereign Bank.

In the view of the umbrella family, there is more to this revelation than meets the eye.