Gov Inuwa Suspends Micro Finance Bank MD, Dissolves Board

Inuwa Yahaya

Gombe State Governor Inuwa Yahaya yesterday suspended the managing director of the state-owned Bubayero Micro inance Bank and dissolved its board of directors.

The Secretary to the State Government, Ibrahim Abubakar Njodi, disclosed this in a statement where he explained that the governor’s decision followed the findings of a forensic audit of financial activities at the bank and the audit report of the Central Bank of Nigeria (CBN).

The MD/CEO is to hand over responsibilities to the most senior bank official, while all suspended board members and management are instructed to promptly hand over all official assets in their possession.

“An interim management headed by the executive director, financial control and operations has been established, and is to report to the permanent secretary, ministry of finance and economic development for further directives,” he said.

The secretary to the government added that the directives which take immediate effect were aimed at ensuring transparency, accountability and safeguarding the institution’s integrity and maintaining public trust in the system.

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