Rivers State Governor Siminalayi Fubara has dissolved the board of the Rivers State Microfinance Agency, just days after disbanding the Rivers Pension Board, signaling a swift overhaul of state agencies.
The Microfinance Agency board, inaugurated on August 14, 2025, by former Sole Administrator Vice-Admiral Ibok-Ete Ibas (retd) and chaired by Prof. Adolphus Toby, was among eight agencies established during the state’s six-month emergency rule.
In a statement signed by the Head of Service, Dr. Inyingi Brown, Fubara announced the immediate appointment of Pastor Jonathan Tobin as the Acting Managing Director of the agency.
The statement directed members of the dissolved board to hand over all agency properties and assets to Tobin, adding that the governor will reconstitute the board “in due course.”
The dissolution follows Fubara’s recent move to dissolve the Pension Board, with the state’s Accountant-General tasked to oversee its activities until further notice.
These actions, coming as Rivers State transitions from emergency rule imposed by President Bola Tinubu, reflect Fubara’s push to realign state institutions with his administration’s priorities amid lingering political tensions.
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