President Bola Ahmed Tinubu has approved the immediate dissolution of the Governing Boards of all Federal Government Parastatals, Agencies, Institutions, and Government-Owned Companies.
This decision, however, exempts Boards, Commissions, and Councils listed in the Third Schedule, Part 1, Section 153 (i) of the 1999 Constitution of the Federal Republic of Nigeria, as amended.
The dissolution directive, which took effect on Friday, June 16, 2023, applies until new boards are constituted.
Chief Executive Officers (CEOs) of the affected Parastatals, Agencies, Institutions, and Government-Owned Companies have been directed to refer matters requiring board attention to the President through the Permanent Secretaries of their respective supervisory Ministries and Offices.
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These Permanent Secretaries, in turn, are instructed to route the correspondences through the Office of the Secretary to the Government of the Federation, ensuring compliance with this directive.
The announcement was made by Willie Bassey, the Director of Information, on behalf of the Secretary to the Government of the Federation.
This move signifies President Tinubu’s commitment to streamlining and optimizing the functioning of federal entities and fostering efficient governance.
The dissolution of the governing boards provides an opportunity for a comprehensive review and rejuvenation of these federal entities.
With this measure, President Tinubu aims to enhance their performance, ensure accountability, and align them with the evolving needs and aspirations of the nation.
The affected Ministries, Departments, and Agencies have been urged to fully comply with the provisions of this directive, facilitating a seamless transition during this period of board reconstitution.
Permanent Secretaries have been specifically instructed to inform the Chief Executive Officers of the affected Agencies under their respective Ministries/Offices, emphasizing the importance of immediate compliance.