By Kelfala Kargbo
Freetown, 9th July 2026- The Center for Accountability and the Rule of Law (CARL) has called on President Julius Maada Bio to order an urgent investigation into the National Social Security and Insurance Trust (NASSIT), warning that retirees’ savings are at risk due to underperforming investments and delayed benefit payments.
The appeal followed a candid admission by Minister of Employment, Labour and Social Security, Mohamed Rahman Swarray, who told Truth Media that “NASSIT investments are not doing well.” Speaking on the Truth Morning Devotion program, the Minister highlighted several stalled or struggling projects, noting that government intervention was underway to salvage them.
Established in 2001, NASSIT is mandated to collect, manage, and invest workers’ contributions while ensuring timely pension payments. Over the years, the institution has ventured into investments ranging from hotels to housing estates and commercial markets.
CARL’s Acting Executive Director, Jeremy Simbo, said the Minister’s remarks confirmed long-standing concerns about mismanagement. Addressing journalists at CARL’s Pultney Street office in Freetown, Simbo listed troubled ventures including the Sierra Akar Poultry Project in Sumbuya, SCPL Block Making Factory at Angola Town, Regimanuel Grey Estate at Goderich, Kimbima Hotel, Bo Plaza, and several land banks.
“We commend Minister Swarray for his candor, and the government for its stated commitment to accountability. Candor must now be matched with decisive action,” Simbo declared. “CARL-SL urges the President to ensure a full, independent audit of NASSIT’s investment portfolio, and the immediate recovery of any misused or lost funds.”
Simbo added that beneficiaries had lodged complaints of delayed payments and weak portfolio diversification, alongside concerns about recruitment, promotions, and board oversight that he said lacked transparency and merit.
But NASSIT officials pushed back. Mohamed Bangalie, Acting General Manager of Public Affairs, told Truth Media that CARL had taken the Minister’s comments out of context. He insisted that NASSIT had consistently fulfilled its core mandate of paying beneficiaries.
Bangalie described CARL’s move as “unprofessional,” arguing that the organization failed to engage NASSIT directly before staging a press conference. He noted that President Bio had already ordered a pause on new investments in 2018 pending reforms, which explained why some projects appeared stalled.
“NASSIT is a public institution and open for engagement,” Bangalie said.
CARL concluded its briefing with five recommendations to the President: conduct a full audit and recover lost funds, reform the investment strategy, strengthen governance, build institutional capacity, and guarantee timely payment of benefits.
