General News Sun, 30 Sep 2001

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Kofi Wayo Condemns SSNIT Action

Mr. Kofi Wayo, has condemned the manner the Social Security and National Insurance Trust (SSNIT) stormed Vibe FM last week, describing it as savage.

The Trust he said should have come to a compromise with the radio station.

Kofi Wayo was reacting to the development during a press conference organised by the management of Vibe FM on the SSNIT action. "Many foreign companies, owe them billions of cedis, yet no such action has been taken against them," he alleged.

The station is indebted to the Trust to the tune of ?500 million. The initial rent owed was ?200 million, but a court ruling resulted in an addition of ?300 million interest. The court also ruled that, SSNIT has the right to seize the equipment of the station and eject them pending the settlement of the outstanding amount.

Mr. Mike Cooke, Chief Executive Officer of Vibe FM, said on Thursday morning, the station had started business, when some people who claimed to be bailiffs rushed in and took over the station.

Kojo Mensah, Acting General Manager of the Station said, "the station is in constant negotiation with SSNIT, and any official who shows indifference, only depicts his incompetence."

He alleged that, SSNIT has no intention to make them pay back the money due them, but is only interested in damaging the station.

Source: Accra Mail

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