Northern States Governors’ Forum (NSGF) has sacked the executive management of its premier investment conglomerate, the New Nigeria Development Company (NNDC) with immediate effect.
This was contained in a letter signed by the Chairman of NSGF and Borno State Governor, Kashim Shettima.
The letter of dismissal of Dr. Ahmed Musa Mohammed-led management was addressed to the chairman of the board of directors of the company, Alhaji Bashir Dalhatu.
The executive management tenure ended in June this year, after eight years in office, three of which were in an acting capacity.
But five years after, most of the subsidiaries which the NNDC budgeted N2.65 billion for their overhaul are still comatose.
The company has a shareholders’ fund of N9.194 billion, which is a drop from the N9.407 billion of 2016, according to its financial statement dated March 31, 2017.