Rivers State Governor, Siminalayi Fubara, has dissolved the Board of the Rivers State Microfinance Agency, just days after taking a similar step with the Rivers State Pension Board.
Both boards were initially reconstituted during the period of emergency rule in the state. While the Pension Board is yet to be re-inaugurated, Governor Fubara has reappointed Jonathan Tobin, who previously served as chairman of the Microfinance Agency since October 2023, to continue in acting capacity as Managing Director.
In a government announcement issued in Port Harcourt and signed by the Head of Service, Dr. (Mrs.) Inyingi Brown, members of the dissolved Microfinance Agency Board were instructed to hand over all properties and assets in their possession to the Acting Managing Director.
The statement also noted that the Governor would reconstitute the Board in due course.
Tobin has been in charge of the ₦4 billion loan facility introduced by the administration to support small and medium-scale businesses across the state. The facility, part of Governor Fubara’s economic empowerment programme, aims to boost entrepreneurship, create jobs, and strengthen the informal sector.
With his reappointment, Tobin is expected to continue supervising the loan programme while the Governor works toward reconstituting the Agency’s board.
What you should know
Jonathan Tobin, now reappointed as Acting MD of the Rivers State Microfinance Agency, has been central to overseeing the ₦4 billion loan programme designed to empower entrepreneurs and strengthen SMEs in Rivers State.
His continuity ensures stability in the state’s economic empowerment initiatives, even as Governor Fubara moves to reconstitute the agency’s board.
