Governor, Siminalayi Fubara of Rivers, has dissolved the Board of the Rivers State Microfinance Agency, effective immediately.
The decision comes barely days after the governor took a similar step with the Rivers State Pension Board.
The governor announced the dissolution of the board in a statement signed by the Head of Service, Dr. Inyingi Brown, directing members of the defunct board to hand over all properties and assets to the Acting Managing Director.
Pastor Jonathan Tobin has been appointed as the Acting Managing Director of the agency.
Tobin previously served as chairman of the Microfinance Agency from October 2023 and would continue to oversee the N4 billion loan facility introduced by the administration to support small and medium-scale businesses across the state.
The facility, launched under Governor Fubara’s economic empowerment programme, aimed to boost entrepreneurship, create jobs, and strengthen the informal sector.
With his reappointment, Tobin is expected to continue supervising the loan programme while the Governor moves to reconstitute the Agency’s board following its dissolution.
The governor would reconstitute the board in due course, according to the statement.
The move is part of the governor’s effort to restructure key government institutions and enhance service delivery in the state.
The dissolution of the Microfinance Agency Board and the Rivers State Pension Board is a significant development in the state’s governance.
