Mahama Dissolves Boards of 9 State Institutions Including GNPC, BOST and CBG

• President John Dramani Mahama has dissolved the governing boards of nine state institutions with immediate effect
• The affected institutions include GNPC, BOST, VALCO and Consolidated Bank Ghana, among others
• The Presidency directed relevant sector ministers to take all steps required to give effect to the dissolution

President John Mahama has ordered the immediate dissolution of the governing boards of nine state-owned institutions, the Presidency confirmed on Wednesday, 3 September 2026.

The decision was announced in a statement issued by Felix Kwakye Ofosu, Spokesperson to the President and Minister for Government Communications, a day earlier on 2 September 2026. No reason was given for the dissolution.

The nine institutions whose boards have been dissolved are Prestea Sankofa Gold Limited, the Bulk Oil Storage and Transportation Company Limited (BOST), the Volta Aluminium Company Limited (VALCO), Consolidated Bank Ghana Limited (CBG), Ghana Post Company Limited, the Road Maintenance Trust Fund, TDC Ghana Limited, the Ghana National Petroleum Corporation (GNPC) and the National Sports Authority (NSA).

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The directive instructs the relevant sector ministers to take all necessary steps, in line with applicable laws and governing instruments, to give effect to the dissolution. The affected boards are expected to be reconstituted in due course.

The development comes at a time when the performance of state-owned enterprises is under heightened scrutiny, following the release of the 2025 report on state-owned agencies by the State Interest Governance Authority (SIGA).

The latest directive follows President Mahama's earlier blanket directive dissolving statutory boards, corporations, commissions and councils appointed by the previous administration, in accordance with the Presidential (Transition) Act, 2012 (Act 845).

Under that directive, individuals appointed to the boards by former President Nana Addo Dankwa Akufo-Addo or a former Minister of State ceased to hold office on January 7, 2025, the date of President Mahama's swearing-in.

The Presidency previously clarified that the cessation of board membership did not affect independent constitutional creations.

Until the boards are reconstituted, management of the affected institutions had previously been directed to seek clearance from the Chief of Staff before taking major decisions.

Source: YEN.com.gh