Rivers State Governor Fubara dissolves Microfinance board

‎Rivers State Governor Siminalayi Fubara has dissolved the Rivers State Microfinance Agency Board, appointing Pastor Jonathan Tobin as Acting Managing Director.
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‎The dissolution of the Microfinance Board came after Governor Fubara disbanded the Rivers Pension Board, a drastic administrative change within the state.
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‎The Microfinance Board, inaugurated just recently on August 14 by Vice-Admiral Ibok-Ete Ibas (retd.), previously featured Prof. Adolphus Toby as Chairman. The Governor’s decision comes less than two months after the board’s inception, with a statement from the Head of Service, Dr. Inyingi Brown, confirming the immediate handover of board assets to the new acting leader.
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‎Microfinance agencies play a crucial role in facilitating access to small loans and financial services for low-income individuals and small businesses. This reorganization aims to realign the agency’s activities with the current administration’s priorities.
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‎Governor Fubara’s office maintains that further announcements on board appointments will follow in due course.
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