No fewer than 408 retirees of the defunct Power Holding Company of Nigeria (PHCN) have started receiving their entitlements.
The payment started after the active retirees or their next of kins have been computed and verified by the Office of the Accountant General of the Federation (OAGF).
The Director General of Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, said the sum N1, 053,402,476.03 had been released for the payment.
Okoh expressed delight that following the approval of the National Council on Privatisation (NCP), chaired by Vice President Yemi Osibanjo, the implementation is leading to the resolution of “this outstanding labour issue in the power sector privatisation”.
He said the current milestone in the resolution and settlement of the outstanding labour liabilities became possible after the Bureau intervened.
He said BPE constituted a Technical Working Group (TWG) comprising the OAGF, PENCOM, NELMCO, NUEE, and SSAEAC & NUP which worked assiduously…
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