The Social Security and National Insurance Trust, SSNIT is to dilute its shareholding in the banking industry. The move which has already been approved by the board was contained in a letter signed by Finance Minister, Dr. Kwabena Duffour and Deputy Central Bank Governor, Dr. Kofi Wampah to the IMF Managing Director, Christine Lagarde. The Trust currently has a substantial interest in Merchant Bank, Fidelity Bank and HFC Bank, and CAL Bank. It recently sold its stake in First Atlantic Merchant Bank and swapped its interest in The Trust Bank for more shares in Ecobank. The Trust is also in discussions with a strategic investor to buy out its interest in another bank - the letter noted. Meanwhile, officials have told JOYBUSINESS the dilution is to enable the Trust justify the investment of contributors’ funds especially following the inception of the three-tier pension scheme which has introduced considerable competition.