The Managing Director of the National Social Security and Welfare Corporation or NASSCORP Dewitt Vonballmoos, has announced before the Liberian Senate that the corporation has invested about US$81 million in property value and another US$30 million in cash.
He made the disclosure in the senate when he appeared for confirmation hearing on Friday, April 1, at the Capitol Building in Monrovia. Mr. Vonballmoos said social security pension and insurance has improved under his administration, which have expanded investments coupled with safety of clients’ insurance deposit at the corporation under his watch.
The NASSCORP boss told senate committee members that the corporation under his watch has US$81 million investments that are visible, and a bank balance of US$30m. He assured Liberians of continued better leadership and improved future for retired citizens.
He also vowed to expand investments across the country and to protect resources collected from clients in accordance with the act that created the NASSCORP. Mr. Vonballmoos also named investment in Buchanan, Grand Bassa County, ELWA Junction multi-purpose building, and the multi-purpose building under construction on 24th Street in Sinkor, which is expected to be official home of the corporation with road pavement leading to the beach undertaken by NASSCORP, amongst others.
The Director General further disclosed that the corporation is involved in housing development in the country.According to him, the corporation is building housing unit worth US$20,000 to be sold to low income earners with roughly $4,000 initial upfront payment, while the balance is paid in long period, some of which he noted, Liberians have purchased.
In response, Senator G. Alphonso Gaye, a member of the committee, implored his colleagues to confirm Mr. Vonballmoos, noting that the corporation is the most vibrant government institution he has ever seen especially, under President Sirleaf’s leadership.
Senator Gaye described authorities at NASSCORFP as the most responsible corporate corporation and as such, deserves prolongation. “In all fairness, NASSCOP is the most responsible government institution I have ever seen. Its investments are visible, they are tangible, we can see the results of the investments,” Gaye said.
Recently, Grand Bassa County Senator NyonbleeKarnga-Lawrence introduced a communication in plenary, craving the Senate not to confirm tenure nominees from President Ellen Johnson.
She argued that the current administration has less than a year to leave office, so tenure positions should be reserved for the incoming government after elections in October. By E. J. Nathaniel Daygbor-Editing by Jonathan Browne