NPRA denies GH¢8m US training expenditure claim

The National Pensions Regulatory Authority (NPRA) has strongly rejected claims by the Minority in Parliament that it spent more than GH¢8 million on a two-week training programme in the United States for its board members and senior staff, describing the allegation as false and misleading.

The accusation was made by Vincent Ekow Assafuah, Member of Parliament for Old Tafo, during a press conference held on Thursday, April 16. At the briefing, he alleged that the NPRA had engaged in excessive and unjustified expenditure by sponsoring a delegation that included 11 board members, six directors, and other senior officials for what he described as a short-term training programme abroad.

Mr Assafuah raised concerns about financial prudence and accountability within the Authority, questioning both the necessity and the cost of the purported programme. He called on the NPRA to provide full disclosure regarding the training, including details of its duration, objectives, and total expenditure, while criticising what he characterised as profligate use of public funds.

In response, the NPRA issued an official statement categorically denying the claims and providing clarification on the nature, scope, and duration of the training programme. The Authority emphasised that the assertions made by the MP do not accurately reflect the facts surrounding the initiative.

According to the NPRA, the programme in question is not a short-term, two-week engagement as alleged, but rather a comprehensive capacity-building initiative aimed at strengthening the expertise and competencies of its leadership and senior management.

The Authority explained that the training programme, hosted at Bentley University in the United States, is a six-month hybrid course that combines both virtual and in-person sessions. The programme commenced in January 2026 and is still ongoing.

NPRA further stated that the initiative is designed to expose participants to international best practices in key areas such as financial planning, risk management, pension governance, and pension administration. These areas are considered critical to improving the effectiveness and sustainability of Ghana’s pension system.

“The training programme at Bentley University is a six-month virtual and in-person training which started in January 2026 and is still ongoing. The programme is being undertaken to draw on international best practices in Financial Planning, Risk Management, Pension Governance and Administration,” the statement explained.

The Authority therefore rejected the claim that the programme was limited to two weeks, stressing that such assertions are entirely inaccurate.

“Therefore, the allegation by Mr Assafuah that it is a two-week programme is entirely false,” the NPRA stated.

The clarification comes amid heightened scrutiny of public sector spending, with stakeholders increasingly demanding transparency and accountability in the use of state resources. The NPRA maintained that its actions are in line with its mandate to ensure the effective regulation and development of Ghana’s pension industry through continuous capacity building.