The Power Holding Company of Nigeria (PHCN) will today round off payment of retirement benefits and other entitlements to workers of 10 power generation companies GENCOs being disengaged from the system as part of the ongoing power reform.
Chinedu Nebo, minister of power, disclosed this on Thursday in an exclusive chat with BusinessDay in Abuja.
Nebo, who reassured that “liabilities will not be passed on to the preferred bidders”, added that payment of workers’ entitlements for both GENCOs and DISCOs will be concluded within the next two weeks.
“Payment of all the GENCOs (staff) would have been concluded by Friday (today) and by Monday we will begin paying the Discos, within a week or two weeks we should be mostly done”.
According to him, “About N384 billion is being paid out to PHCN workers, the amount includes the gratuities and retirement benefits of the workers who are being disengaged from the PHCN”.
On assets of the PHCN, the minister disclosed that the assets are being put together, adding that soon, most of the assets will be put up for sale.
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