Governor Inuwa Yahaya of Gombe State has given his nod for the dissolution of the Board of Directors of the state-owned Bubayaro Micro Finance Bank.

The Secretary to the State Government, Ibrahim Njodi, conveyed this decision, disclosing that Governor Yahaya concurrently suspended the bank’s Managing Director, Mr. Mohammed Amtai.

In an official statement issued by the governor’s media aide, Ismaila Uba-Misilli, on Saturday, it was clarified that Governor Yahaya’s decision was grounded in the findings of a meticulous forensic audit into the financial activities of the bank. 

Uba-Misilli added that the governor’s action was also influenced by the recommendations provided by financial consultants and an audit report from the Central Bank of Nigeria.

Njodi, articulating the governor’s stance, stated, “The managing director is to hand over responsibilities to the most senior official in the bank. All suspended board members and members of management are instructed to promptly hand over all official assets in their possession.”

To ensure the continuity of the bank’s operations and adherence to best practices, an interim management has been instituted. This interim management is mandated to report to Mr. Abubakar Dauda, Permanent Secretary of the Ministry of Finance and Economic Development, for further directives.

In emphasizing the purpose behind these directives, Njodi remarked, “The directives are aimed at ensuring transparency, accountability and the safeguarding of the bank’s integrity and maintaining public trust in the system.”