The core investors who have bought into the Power Holding Company of Nigeria’s successor companies have asked the government to ensure a seamless transition for workers to be sacked when they take over the firms.
The core investors made the appeal when they met with officials of the Bureau of Public Enterprises in Abuja on Wednesday.
The Chairman, Electricity Distribution Companies’ Roundtable, Mr. Ransome Owan, who confirmed this in an interview with our correspondent in Abuja on Thursday, said the PHCN workers would be given disengagement letters upon the takeover of the successor companies by the core investors.
He added that the core investors, however, wanted the workers to receive new engagement letters from the new owners immediately in order to ensure a seamless transition.
Owan regretted that the interest rates on the money borrowed by the core investors to finance the acquisition of the companies were already running without access to the electricity companies.
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