Gombe Dissolves Board, Management of Bubayero MFB, Suspends MD/CEO

Segun Awofadeji in Gombe

Gombe State Governor, Alhaji Muhammadu Yahaya, has approved the dissolution of the Board of Directors of Bubayero Micro Finance Bank and also suspended the managing director and chief executive officer from office.

The Secretary to the State Government (SSG), Professor Ibrahim Abubakar Njodi, who conveyed the governor’s approval yesterday, said the decision followed the findings of a thorough forensic audit of the financial activities at Bubayero Micro Finance Bank, and based on recommendations from appointed financial consultants as well as 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.

These directives, which take immediate effect, are aimed to ensure transparency, accountability, and the safeguarding of the institution’s integrity and maintaining public trust in the system.