NHIS’ GHc17m Diverted To Private Investment Company—NDC Reveals

The Opposition National Democratic Congress (NDC) has accused government of illegally transferring over GHc17 million of National Health Insurance Scheme’s (NHIS) funds to a private fund management company, All Time Capital Investment.

According to the party’s National Communications Officer, Sammy Gyamfi, the transaction was done without due diligence and risk assessment.

The Minority has over the past years been expressing concerns over the use of the NHIS funds for what it calls unnecessary programmes.

This followed, the allocation of NHIS funds of about GHC 5 million for corporate social responsibility.

There have also been concerns by the Cape Coast Hospital over the non-payment of health insurance claims running into millions of Ghana cedis.

Speaking at the third edition of Moment of Truth Series organised by the NDC, Mr. Gyamfi attributed the current financial woes of the scheme to the diversion of funds and other alleged fraudulent activities.

“Our painstaking investigations have revealed that upon President Akufo-Addo assuming office – The National Health Insurance Authority without any due diligence… transferred a whopping GHc 17, 548, 370.20 in three tranches into private financial house called All Time Capital Limited supposedly as investment.”

“Incontrovertible evidence available to us indicate that despite repeated efforts by the scheme to retrieve the invested funds and accrued interest have failed. The company informed the National Health Insurance Authority that it could effect some payment if only the investment funds were allowed to be ran for an additional year. This situation is contributing to the worsening financial fortunes of the scheme.”

“Government did not undertake any risk assessment. These are taxpayers monies which are supposed to finance the scheme and pay service providers so that our hospitals can be run for patients to access quality healthcare. But this is what they chose to use the monies for and the money is locked up there. What wrong have we done to President Akuffo-Addo and his government?” he quizzed.

NHIS may grind to a halt in 12 months – NHIA Boss

The National Health Insurance Scheme (NHIS) may not exist as we know it in 12 months time because of its financing challenges, the National Health Insurance Authority (NHIA) CEO, Dr. Samuel Annor, has admitted.

Responding to concerns from Health Insurance Providers Association that the NHIS would be dead in a year’s time on Eyewitness News, Dr. Annor said: “I wouldn’t say die but we would not be rendering the service we are supposed to render.”

The NHIA CEO has long held that the scheme had run out of funds to operate.

“Between 2009 and now, we have just been piling debts,” Dr. Annor said of the NHIS.As a result, the scheme may be dysfunctional come 2019.

‘Gh¢1bn out of Gh¢1.2 bn NHIS debt cleared’ – Nana Addo

President Nana Addo Dankwa Akufo-Addo, had earlier said his administration is gradually reviving the NHIS, which was struggling under the Mahama government due to indebtedness.

According to President Akufo-Addo, “of the GH¢1.2 billion debt we [government] inherited, the equivalent of $300 million, we[government] have paid, in the last 15 months, GH¢1 billion, the equivalent of $250 million.”

He added that payments to service providers, since his government took office in January 2017 had been consistent.

As a result, “the Scheme is regaining its effectiveness so that for a minimum amount, subscribers can have access to a wide range of medical services.”