The federal government said yesterday that it had so far paid a total of N119.17 billion as severance benefits to staff of the Power Holding Company of Nigeria (PHCN). The government also gave the assurance that the power sector reform process was on course, as the deadline for payment of the remaining 75 per cent for the power companies remains Wednesday, August 21, 2013, as stipulated in the Request for Proposal (RFP). A statement from the Bureau of Public Enterprises (BPE) made available to LEADERSHIP yesterday noted that a total of 20,304 of the 40,000 staff of PHCN had been cleared and paid their severance benefits totaling N119, 176, 731,492.88 as of Friday, August 16, in line with agreements with PHCN labour unions dated December 12, 2012.
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