By Kadijatu Bangura, Daily Scope Reporter
The Centre for Accountability and Rule of Law has called on President Julius Maada Bio to intervene urgently to protect workers’ pension contributions, citing growing concerns over the performance of the National Social Security and Insurance Trust’s investment portfolio.
In a statement issued Tuesday, July 7, 2026, CARL-SL urged the President to order an independent audit of NASSIT’s investments and ensure the recovery of any public funds lost to mismanagement or poor performance.
The call comes days after the Minister of Labour and Social Security, Mohamed Rahman Swaray, acknowledged during an interview with Truth Media that “NASSIT’s investments are not doing well.” CARL-SL commended the minister for his candor but said transparency must now be followed by action.
NASSIT was established under the 2001 Act to collect and prudently invest workers’ contributions and pay pensions on time. As one of the country’s largest institutional investors, the Trust manages billions of leones in workers’ savings.
CARL-SL however noted that several of NASSIT’s major projects have either stagnated or delivered poor returns. These include the Sierra Akar Poultry Project in Sumbuya, the SCPL Block Making Factory at Angola Town, the Regimanuel Grey Estate in Goderich, Kimbima Hotel, Bo Plaza, and multiple land bank investments in Bo.
The organization also raised concerns over persistent delays in pension payments, limited investment diversification, staffing practices, and the effectiveness of oversight by the NASSIT Board of Trustees.
“Pension funds are not government revenue. They are the deferred wages of workers,” CARL-SL stated. “When trust erodes, compliance falls, and the entire scheme is put at risk.”
To address the issues, CARL-SL recommended a full independent review of all NASSIT investments and steps to recover funds lost through underperformance or irregularities. It also called for a commercially viable long-term investment strategy focused on sustainable returns.
Other recommendations include strengthening corporate governance through merit-based recruitment, enhancing board oversight, investing in technical expertise for risk and investment management, and making timely pension payments a key performance indicator.
CARL-SL stressed that NASSIT’s stability has direct implications for workers, employers, retirees, and the wider economy.
“The time for statements has passed. The time for action is now,” the organization declared.
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