President John Dramani Mahama has ordered the immediate dissolution of the boards of nine state-owned institutions as part of a major shake-up of their governing structures.
The decision, announced by the Presidency on Wednesday, September 2, affects institutions operating in critical areas of the economy, including petroleum, mining, banking, housing, sports and infrastructure.
The institutions affected 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).
Following the decision, the respective sector ministers have been directed to take all necessary steps to implement the dissolution in accordance with the applicable laws and governing instruments of the institutions.
The Presidency, however, clarified that the move does not mean the affected institutions will permanently operate without boards.
It said the boards would be reconstituted in due course, with new members expected to be appointed to provide oversight and governance for the various institutions.
The latest decision brings changes to the leadership structures of nine key state institutions as the government prepares to reconstitute their respective boards.
