The federal government also announced the payment of about N409.92 billion as severance and death benefits to the affected ex-workers.
Former workers of the defunct Power Holding Company of Nigeria are to be allotted four per cent of the federal government equity holding in the successor power companies, theThe privatisation agency made this known in a statement in Abuja to announce the payment of about N409.92 billion as severance and death benefits to the affected ex-workers.
The BPE said the 10 per cent shares due to workers of the Power Companies would be allotted to them after the Nigerian Electricity Regulatory Commission , the regulatory authority in the Nigerian power industry, has completed the valuation of the investments in the states by the distribution companies.
She said the claims were forwarded to the Office of the Accountant General of the Federation for payment in 36 separate batches. Further details by the BPE showed that about 4,438 PHCN retirees have been submitted to BPE in eight batches, out of which about 3,131, representing, 71 per cent of the beneficiaries have been fully paid their entitlements to date, leaving about 1,307 yet to be paid.
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