The Rivers State Governor, Siminalayi Fubara, has dissolved another board, the Rivers State Microfinance Agency, inaugurated by the former Sole Administrator of the state, Vice-Admiral Ibok-Ete Ibas (retd).

The dissolution occurred about two days after Fubara disbanded the Rivers Pension Board and directed the state’s Accountant-General to take charge of the board’s activities till further notice.

The recently dissolved Microfinance Board was among the eight agencies inaugurated in one fell swoop by Ibas on August 14th, with Prof. Adolphus Toby named as the Chairman.


The governor, in a statement signed by the Head of Service, Dr Inyingi Brown, appointed Pastor Jonathan Tobin to act as the Managing Director of the Agency.

The statement said, “The Rivers State Governor hereby announces the dissolution of the Board of the Rivers State Microfinance Agency and the immediate appointment of Pastor Jonathan Tobin as the Acting Managing Director of the Agency.