President John Dramani Mahama has dissolved the boards of nine state institutions with immediate effect, including the Ghana National Petroleum Corporation (GNPC), Bulk Oil Storage and Transportation Company Limited (BOST), Volta Aluminium Company Limited (VALCO) and Consolidated Bank Ghana Limited (CBG).
The decision, announced by the Presidency on Wednesday, September 2, affects a range of institutions in the energy, finance, transport, sports and public service sectors.
Other institutions affected are Prestea Sankofa Gold Limited, Ghana Post Company Limited, the Road Maintenance Trust Fund, TDC Ghana Limited and the National Sports Authority.
In a statement issued by the Presidency, sector ministers were directed to take the necessary steps, in accordance with the relevant laws and governing instruments, to give effect to the dissolution.
The Presidency said the affected boards would be reconstituted in due course.
The announcement was signed by Felix Kwakye Ofosu, the President’s spokesperson and Minister for Government Communications.
The dissolution means the affected institutions will now await the appointment of new boards as the government begins the process of reconstituting their governing bodies.
