President john Dramani Mahama has dissolved the governing boards of nine state-owned institutions with immediate effect.
The decision, announced by the Presidency on Wednesday, September 2, affects institutions operating across critical sectors of the Ghanaian economy, including petroleum, mining, banking, housing, infrastructure, transport and sports.
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).
In a statement, the Presidency said the relevant sector ministers have been directed to take all necessary steps to give effect to the dissolution of the boards.
The ministers are expected to ensure that the process is carried out in accordance with the applicable laws and the governing instruments of the respective institutions.
The Presidency has, however, clarified that the dissolution does not amount to the permanent removal of the governance structures of the affected institutions.
According to the statement, the boards will be reconstituted in due course, paving the way for the appointment of new members to oversee the operations of the various institutions.
The move comes as the government continues to make changes to the leadership and governance structures of several state institutions.
The affected entities play key roles in areas including petroleum storage and distribution, national oil and gas policy, banking, mining, housing development, road maintenance, postal services, aluminium production and sports administration.
The Presidency did not immediately provide specific reasons for the dissolution of each of the nine boards.
The relevant ministers are now expected to take the necessary administrative steps to give effect to the President’s directive, pending the reconstitution of the boards.
