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FG released 1bn for PHCN retirees

Saka babtunde



The Federal Government has launched about N1.05 billion to settle brilliant claims and entitlements of 408 body of workers and retirees of the defunct Power Holding Company of Nigeria (PHCN).

The Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, said on Thursday in Abuja that the payments were accredited via the National Council on Privatisation (NCP), chaired by way of Vice President Yemi Osinbajo.

Okoh in a declaration said that the agreement of the top notch liabilities became viable after the Bureau on March 27, 2018, constituted a Technical Working Group, that worked with the Office of the Accountant-General of the Federation, who sent out the fund.

The Federal Government, after privatizing the energy company, had paid 47,041 out of the 47,913 team of workers of the defunct PHCN in 35 batches.

Also, 2,962 out of the 4,423 retirees of the employer were paid and dying blessings additionally paid to beneficiaries in 14 batches.

However, the closing people and retirees could not be paid because the government couldn’t verify their claims as workers or beyond people of the PHCN.

The NCP at its session of April sixteen, 2015, directed BPE to maintain with the system of verification and charge of incredible instances until a very last decision was completed.

Following the NCP directive, the Bureau conducted the final verification inside the six geo-political centres from October 3 to fourteen, 2016, resulting in the 408 beneficiaries who’re now scheduled for fee.

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My Name is Saka Babatunde, a Graduate of Social Science University of Ilorin, I am Passionate about politics. Blogger I Entrepreneur Motivational speaker I Caring father philanthropist life coach Connect me on


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