President Mahama Dissolves Boards of BOST, CBG, GNPC and Six Other State Institutions

Date: September 2, 2026

By: Ebenezer Adugyamfi/ Emmanuel Ayiku for GhanaianNewsCanada

President John Dramani Mahama has dissolved the governing boards of nine major state-owned institutions with immediate effect, in a significant governance reshuffle affecting the petroleum, banking, mining, infrastructure, housing and sports sectors.

The directive, announced by the Presidency on Wednesday, September 2, instructs the relevant sector ministers to immediately begin the legal processes required to implement the dissolution and prepare for the appointment of new board members.

According to the Presidency, the move is part of the government’s broader effort to strengthen corporate governance and reposition strategic public institutions under the Mahama administration.

The nine institutions affected

The dissolution applies to the governing boards of the following state institutions:

• Bulk Oil Storage and Transportation Company Limited (BOST)

• Consolidated Bank Ghana Limited (CBG)

• Ghana National Petroleum Corporation (GNPC)

• Volta Aluminium Company Limited (VALCO)

• Ghana Post Company Limited

• Prestea Sankofa Gold Limited

• Road Maintenance Trust Fund

• TDC Ghana Limited

• National Sports Authority (NSA)

These institutions play critical roles in Ghana’s energy security, financial services, mining, transport infrastructure, housing development and sports administration.

Immediate implementation ordered

The Presidency stated that the dissolution takes immediate effect, with supervising ministers directed to act in accordance with the enabling laws governing each institution.

While the existing boards have been dissolved, the government clarified that the institutions themselves will continue operating through their management teams until new governing boards are constituted.

Officials indicated that the reconstitution of the boards will take place in due course following consultations and the completion of the necessary legal procedures.

Strengthening governance of state enterprises

The latest decision forms part of President Mahama’s ongoing reforms aimed at improving the governance and performance of state-owned enterprises.

Since assuming office, the administration has repeatedly emphasized transparency, accountability and stronger oversight within public institutions, particularly those managing strategic national assets.

Analysts say appointing new boards will be crucial in setting the policy direction for institutions responsible for Ghana’s petroleum reserves, public banking, aluminium production, road maintenance and national sporting infrastructure.

New boards expected soon

Although the Presidency has not announced the names of incoming board members, government officials say appointments will be made in accordance with the respective governing laws of each institution.

The dissolution therefore represents a transitional step rather than the permanent removal of governance structures, with new boards expected to be unveiled in the coming weeks.