President John Dramani Mahama has dissolved the governing boards of nine state institutions with immediate effect.
The decision, announced by the Presidency today, Wednesday, September 2, 2026, affects key institutions operating in the mining, petroleum, energy, banking, transport, housing, postal, sports and road maintenance sectors.
The affected institutions are the Prestea Sankofa Gold Limited, Bulk Oil Storage and Transportation Company Limited (BOST), Volta Aluminium Company Limited (VALCO), Consolidated Bank Ghana Limited (CBG), Ghana Post Company Limited, Road Maintenance Trust Fund, TDC Ghana Limited, Ghana National Petroleum Corporation (GNPC) and the National Sports Authority (NSA).
A statement issued by the Presidency Communications and signed by the Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu, said the relevant sector Ministers had been directed to take all necessary steps to give effect to the President’s decision.
Affected institutions
The institutions whose boards have been dissolved are:
Prestea Sankofa Gold Limited
Bulk Oil Storage and Transportation Company Limited (BOST)
Volta Aluminium Company Limited (VALCO)
Consolidated Bank Ghana Limited (CBG)
Ghana Post Company Limited
Road Maintenance Trust Fund
TDC Ghana Limited
Ghana National Petroleum Corporation (GNPC)
National Sports Authority
Boards to be reconstituted
According to the statement, the dissolution does not affect the continued existence or operations of the institutions.
Rather, the affected boards will be reconstituted in due course.
The statement directed the relevant sector Ministers to ensure that all necessary administrative and legal measures were taken in accordance with the applicable laws and governing instruments of the respective institutions.
The directive is expected to pave the way for the constitution of new boards to oversee the affairs of the affected state-owned entities.
No reasons given
The Presidency’s announcement did not state specific reasons for the dissolution of the boards.
It also did not indicate when the new boards would be constituted or name individuals who would serve on the reconstituted boards.
The affected institutions play significant roles in the national economy and public administration.
The GNPC, for instance, is a key state entity in Ghana’s petroleum sector, while BOST is responsible for the strategic storage and transportation of petroleum products.
VALCO remains a major player in the country’s aluminium industry, with TDC Ghana Limited involved in housing and urban development.
The dissolution also covers CBG, a state-owned commercial bank; Ghana Post, the national postal service provider; the Road Maintenance Trust Fund; Prestea Sankofa Gold Limited, and the National Sports Authority, which is responsible for the development and management of sports infrastructure and related activities.
The latest move forms part of the President’s authority to appoint and reconstitute governing boards of state institutions in accordance with the applicable laws and governing instruments.
The Presidency said the affected boards would be reconstituted in due course.
Caption: President John Dramani Mahama has dissolved the boards of nine state institutions with immediate effect.
