GOVERNMENT ASKED TO ACCOUNT FOR INSURANCE FUND

By David Prosper Naoh, Kumasi

By David Prosper Naoh, Kumasi THE GOVERNMENT has been asked to account for monies paid to the National Insurance Commission (NIC). This is because since the coming into force of the 1992 Constitution, the Minister of Finance has not seen it fit to account for the said monies to Parliament. The Member of Parliament for Asante Akim North, Mr. Kwadwo Baah-Wiredu, made the demand in an interview with the Chronicle at Konongo. The Compensation Fund was established under the NIC in which a rate of ?4000 and ?6000 for the sticker per every vehicle insured is to be paid into the fund. According to him, it is intended to compensate accident victims of uninsured vehicles. Baah-Wiredu said Parliament did not know how much money had been received by the NIC, who accounts to the Ministry of Finance, but the latter had refused to render accounts to the House in violation of PNDC Law 227, Sections 11 and 12. He said questions concerning the issue were raised in March last year, but the Finance Minister has since not provided answers to the various questions, regarding how many victims have benefited from the fund. The honorable MP reasoned that, assuming 400,000 vehicles were insured within the period, then billions of cedis have not been accounted for and probably gone down the drains. He called on the government to respect the laws of the land and furnish the House with all the information needed to ensure probity, accountability and transparency.