The Governor of Rivers State, Sir Siminalayi Fubara, has dissolved the Board of the Rivers State Microfinance Agency, directing its members to immediately hand over all government assets in their possession.
In a statement issued in Port Harcourt by the Head of Service, Dr. (Mrs.) Inyingi S. I. Brown, the governor also announced the appointment of Pastor Jonathan Tobin as the Acting Managing Director of the Agency.
The directive requires members of the defunct Board to transfer all properties, documents, and assets belonging to the Agency to the new Acting Managing Director without delay.
The statement further noted that Fubara will reconstitute a new Board for the Agency in due course, in line with his administration’s policy of repositioning state-owned institutions for greater efficiency and accountability.
Observers say the move underscores the Fubara administration’s ongoing reforms in key government parastatals to ensure transparency and enhance service delivery.
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The Rivers State Microfinance Agency plays a critical role in providing financial support for small and medium scale businesses, particularly among low-income earners and rural communities.
By restructuring the leadership of the Agency, the government hopes to strengthen its operations and ensure better management of resources targeted at poverty reduction and grassroots empowerment.
Dr. Brown assured that the transition would be smooth, while urging stakeholders to support the new management in the discharge of its responsibilities.
