President John Dramani Mahama has dissolved the boards of nine state-owned institutions with immediate effect, a statement from the Presidency has announced.
The directive, issued on Wednesday, September 2, cuts across key sectors of the economy including petroleum, mining, housing, sports, banking and infrastructure.
The affected institutions are Prestea Sankofa Gold Limited, Bulk Oil Storage and Transportation Company Limited (BOST), Volta Aluminium Company Limited (VALCO), Consolidated Bank Ghana Limited (CBG), Ghana Post Company Limited, Road Maintenance Trust Fund, TDC Ghana Limited, Ghana National Petroleum Corporation (GNPC) and the National Sports Authority (NSA).
The Presidency said sector ministers responsible for the institutions have been instructed to take all the necessary steps to enforce the dissolution.
According to the statement, the ministers are to act in line with the relevant laws and the governing regulations of the respective institutions.The Presidency explained that the dissolution does not mean the governance structures of the institutions have been scrapped permanently.It noted that the boards will be reconstituted soon, to allow for the appointment of new members to steer the affairs of the institutions.
