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Wednesday, November 28, 2012

Uncertainty Looms over Power Assets Sale after Onagoruwa’s Sack

300912F2.Bolanle-Onagoruwa.jpg - 300912F2.Bolanle-Onagoruwa.jpg
 
Ms. Bolanle Onagoruwa

Obinna Chima with agency report
Nigeria’s privatisation of state-owned companies faces uncertainty after the head of the Bureau of Public Enterprises (BPE) was fired with key sales yet to be concluded, the Financial Derivatives Company Limited (FDC) told Bloomberg Wednesday.
The Federal Government Tuesday sacked the Director General of the BPE, Ms. Bolanle Onagoruwa, as well as Dr. Bashir Gwandu as the Executive Commissioner in charge of the Engineering and Technology Standards in the Nigerian Communications Commission (NCC).
Although no reason was given for her removal, THISDAY learnt that it might not be unconnected with the call by the Senate for her removal several months ago.
The federal government directed the most senior director in the BPE, Mr. Benjamin Ezra Dikki, to take over the affairs of the privatisation agency in an acting capacity.
“It is a curious development in terms of the timing and very disturbing from an investor perspective,” Bloomberg quoted the Managing Director/Chief Executive Officer, FDC, Mr. Bismarck Rewane, to have said.

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