In what could be described as the new twist to the boardroom saga at the National Pensions Regulatory Authority, NPRA, JOY BUSINESS is reliably informed the Outgoing Chief Executive, Dr. Daniel Seddoh has been asked to handover to the Board Chairman, Kwame Asante. This was contained in a letter signed by the Secretary to the President, Bebako-Mensah.
Dr. Seddoh is expected to handover to the Board Chairman later today. This is coming ahead of his plans to proceed on terminal leave from next week Monday before resigning on 1st May. Dr. Seddoh is handing over to the very same Board Chairman he describes as having had a non-cordial working relationship with - compelling him to resign.
Questions are also being raised about the handing-over as being in violation of the New Pensions Act which requires the separation of the governance role of the Board from the executive role of Management in Pensions Administration. As per the provisions in the Act, analysts therefore expected Dr. Seddoh to have handed over to his Deputy who acts in his absence rather than the Board Chairman.
Meanwhile, Dr. Seddoh had raised corporate governance issues in his resignation letter where he said the board instead of playing its governance role rather assumed executive powers and run the day-to-day affairs of the authority even after the Acting Chief Executive and a Deputy were appointed.
Concerns are therefore being expressed about the possible implication of the latest development for authority’s plans to license and register the Service Providers of the new Pension’s Scheme this month. Stakeholders are worried the latest development could only further delay this process expected to culminate in the full implementation of the scheme .
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