President John Dramani Mahama has directed the immediate dissolution of the boards of nine state institutions and companies.
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) and Ghana Post Company Limited.
The rest are; Road Maintenance Trust Fund, TDC Ghana Limited, Ghana National Petroleum Corporation (GNPC) and the National Sports Authority.
In a letter issued on September 2 by the Secretary to the President, Dr. Callistus Mahama, the directive required the appropriate authorities to take all necessary steps in accordance with the applicable laws and governing instruments to formally notify the affected board members.
Management teams of the affected institutions are to continue overseeing their day-to-day operations under the supervision of their respective sector ministries pending the reconstitution of the Boards.
However, management has been directed not to take any major policy, financial or contractual decisions requiring board approval without prior authorisation from the appropriate authority during the interim period.
The dissolved boards are expected to be reconstituted in due course.
The President also expressed appreciation to the outgoing board members for their services.
