The Federal Ministry of Education has directed that King's College, Lagos, be concessioned to the King's College Old Boys Association (KCOBA). The directive was contained in an official letter received by the Parents and Teachers Association (PTA), according to PTA Chairman Engr. Peter Oluwaleye. The ministry instructed that a transition committee be constituted immediately to oversee the process, which must be completed within six months. Upon completion of the handover, the Federal Government will cease funding any activities of the college.
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