The management of the Social Security and National Insurance Trust (SSNIT) has reacted to discussion on the acquisition process of the Sempe Stool Lands at New Weija in Accra and ownership of the Light Industrial Estates, managed by the Ghana Industrial and Commercial Estate Limited (GICEL).

The management said in a statement on Tuesday, April 20 that The Trust, owns the Estate through its subsidiary, GICEL.

“The attention of the Social Security and National Insurance Trust (SSNIT) has been drawn to some media discussions on the acquisition process of the Sempe Stool Lands at New Weija in Accra and ownership of the Light Industrial Estates, managed by the Ghana Industrial and Commercial Estate Limited (GICEL).

“The Trust, which owns the Estate through its subsidiary, GICEL, wishes to state as follows: Acquisition of Sempe Stool Lands at New Weija; That the Government of Ghana per Executive Instrument (E.I. 1) gazetted on 19th January 1996 compulsorily acquired Sempe Stool lands at New Weija as a site for the Light Industrial Estates.

That SSNIT paid One Billion, Four Hundred and Twenty-Nine Million, Four Hundred and TwentyEight Thousand Cedis (¢1,429,428,000.00) in 1998 as compensation to the Sempe Chiefs for the land. Thus making SSNIT the lawful owner of the land; That SSNIT set up a subsidiary known as GICEL as one of its investee companies to manage the Light Industrial Estates that SSNIT had assumed lawful ownership of.

That the Lands Commission which is the body mandated by law to deal with lands, allocated the land to GICEL, and the lease was paid for by SSNIT.

“That the land was registered in the name of GICEL at the Lands Commission. That the Lands Commission also executed a deed document in respect of the Estates in the name of GICEL, and the deed document has a site plan attached, demarcating the boundaries of GICEL’s land.”

Read SSNIT's statement below: