Just a few days after a similar decision was made with the Rivers State Pension Board, Rivers State Governor Siminalayi Fubara dissolves the Rivers State Microfinance Agency.
During the state’s period of emergency rule, the two boards were one of those that were reconvened.
Governor Fubara has reappointed Jonathan Tobin, who previously served as the Microfinance Agency’s chairman from October 2023, to serve as Managing Director, despite the Pension Board’s pending re-inauguration.
Read more about Fubara Cautions Permanent Secretaries Over Conduct During Emergency Rule here.
Members of the defunct Microfinance Agency Board were instructed to turn over all assets and properties to the Acting Managing Director in a government announcement released in Port Harcourt and signed by Dr. (Mrs.) Inyingi Brown, the head of service.
The Governor would re-establish the Board in due course, according to the statement.
Tobin was in charge of the state’s $4 billion loan program to assist small and medium-sized businesses.
The facility, which was launched as part of Governor Fubara’s economic empowerment initiative, aimed to promote entrepreneurship, foster employment, and strengthen the informal sector.
Source: Channels TV
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