The National Union of Electricity Employees (NUEE) has condemned the devaluation of the assets of the Power Holding Company of Nigeria (PHCN) at N200 billion, saying the power firm is worth N2 trillion.
NUEE general secretary Comrade Joseph Ajaero, who made this comment at a press conference in Lagos at the weekend, called for the arrest and prosecution of those behind the devaluation, even as he lamented that the country was facing a rip-off.
He said: “It is only a prodigal son that would sell the house of his father that gives N300 billion yearly for N200 billion, and those who devalued PHCN assets wanted to scrap what belongs to Nigerians.
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