Justice and Labour Relations Minister Fillemon Wise Immanuel has requested a “factual report” from the Board of the Social Security Commission (SSC) regarding allegations of an unaccounted N$55 million by the Commission.

This inquiry follows allegations published by The Issue that N$55 million is unaccounted for after being invested in an offshore account belonging to a company named Retirement Investments and Savings for Everyone.

Immanuel cautioned that such claims risk eroding public trust and shareholder confidence. He directed the Board to provide his office with the institution’s factual position and any corrective actions taken if the allegations prove valid. He also requested access to the SSC’s Institutional Investment Policy and confirmation that it was approved under the Public Enterprises Governance Act, Act No. 1 of 2019.

Additionally, he instructed the Board to publish a public statement outlining the SSC’s official stance on the matter.

In a letter dated 2 June and seen by nbc News, addressed to the Board, the Labour Minister gave the Board a deadline of tomorrow to submit the report on the alleged missing funds to his office.

Earlier today, the SCC issued a statement in which it denied the loss of any funds, specifically the alleged N$55 million. The Commission promised to provide additional information in due course.