FG To Fund PHCN Workers’ Severance With $3bn

The Director General of the Bureau for Public Enterprises (BPE), Ezra Dikki, has disclosed that the $3 billion, about N480 billion, realised from the sale of the PHCN successor companies will be used to settle the workers severance package.

Dikki told journalists in Abuja yesterday on the sideline of the on-going Power Expo that the monies realised from the sale of the companies have been transferred to the Office of the Accountant General of the Federation, which is handling the workers’ payment.

He said: “Virtually all of it is going into labour settlement and this has been communicated to labour from day one that the proceeds of the sales are going to be used to settle their entitlements, they can verify from our bankers to corroborate this information that BPE has remitted the money to the AGF’s and that office is in the process of remitting the money to the individual RSA accounts, I don’t see what is hidden in this process.”