The National Pensions Regulatory Authority (NPRA) has rejected assertions by the Minority in Parliament that it has obtained a GH¢700 million loan to fund Phase Two of its proposed head office project.

The claim was made by the Member of Parliament for Old Tafo, Vincent Ekow Assafuah, during a press briefing on Thursday, April 16, where he alleged that the Authority was engaging in irregular borrowing and called for the immediate halt of the supposed arrangement.

Mr Assafuah argued that the reported facility, said to be worth GH¢700 million, was being secured using pension contributors’ funds, raising concerns about accountability, transparency, and the risk of mismanaging pension resources.

In a prompt response, however, the NPRA described the allegations as false and misleading, maintaining that no such loan has been contracted.

In a statement issued to address the matter, the Authority outlined the current status of the headquarters project and clarified processes surrounding its development.

According to the NPRA, Phase One of the project is still under construction and has not yet been completed, making any suggestion of expansion or transition to the next phase premature.

The Authority further noted that plans for Phase Two were developed before the tenure of its current Director-General, Mr Boadi-Mensah.

Dismissing the central claim, the NPRA firmly stated that it has not secured any GH¢700 million loan for the project, emphasising that the allegation has no factual basis.