FG Pays N119. 2bn To 20, 304 PHCN Workers As Severance Benefits – NCP

power-Holding-Company-of-Nigeria-PHCN-300x139The National Council on Privatisation has said that 20,304 out persons of the 40,000 staff of Power Holding Company of Nigeria have so far been cleared and paid their severance benefits.

In a statement issued by Chigbo Anichebe, Head, Public Communications of the Bureau of Public Enterprises, the council said N119. 2 billion was used to pay the workers up to Friday, Aug. 16.

It stated that the privatisation process of the power sector was on course with the payment of severance benefit to former workers.

It stated that “in line with the agreement reached with Power Holding Company of Nigeria (PHCN) and labour unions dated Dec. 12, 2012, the Federal Government commenced payment of benefits due to the staff on Aug. 1.

“As at Friday, Aug. 16, a total of 20,304 of the 40,000 staff of PHCN have so far been cleared and paid their severance benefits.

“The payment is being handled by the Office of the Accountant-General of the Federation (OAGF),” it stated.

The workers are being layed off as part of the privatisation process of the PHCN subsidiaries.

(NAN)

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