The federal government of Nigeria has dissolved the Executive Management of the Niger Delta Holding Company of Nigeria Limited.
This was contained in a statement by the Secretary to the Government of the Federation, Babachir David Lawal on Friday, June 10, 2016.

The statement reads:

“The Federal Government of Nigeria has dissolved the Executive Management of the Niger Delta Holding Company of Nigeria Limited.

“Consequently, the Managing Director of the company has been directed to hand-over immediately to Mr Chiedu Ugbo, who has been appointed as the acting managing director of the company. All Executive Directors of the Company and the General Manager Audit are directed to hand-over immediately to the most senior officer in their respective Departments.

“The Federal Government appreciates the services of the disengaged officers during their tenure of office.”