Lawyer cautioned against $72 software deal

A Senior Corporate Law Officer, Jaezi Orleans-Lindsay warned the management of the Social Security and National Insurance Trust (SSNIT) against backdating payment for an Operational Business Suit software which cost the Trust over $ 70 million in two years.

In his letter, he cautioned the management against backdating the payment of $2,000,000 for the software to 2014.

Orleans-Lindsay in a correspondence with the General Manager at the time predicted that SSNIT will pay more if they fail to heed his advice.

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“What it means is that SSNIT will have to pay the annual SLA [Service Level Agreement] fee of US$2,000, 000.00 immediately upon signing the agreement (to cover from September 2014 to September 2015) and pay another US$2,000,000.00 in September this year [2016], when in effect it would have just received about 9 months of service under the SLA instead of the contractual 2 years.”

The new Board of Trustees of SSNIT has started investigating how the former management acquired an OBS software System for $66 million.

The system was installed to network all branches of SSNIT nationwide to enhance efficiency.

However, the current administration raised concerns about the cost and have since contracted Price Water house to audit the transaction.

Find the letter below:

Lawyer cautioned against $72 software deal

A Senior Corporate Law Officer, Jaezi Orleans-Lindsay warned the management of the Social Security and National Insurance Trust (SSNIT) against backdating payment for an Operational Business Suit software which cost the Trust over $ 70 million in two years.

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