The federal government has so far paid a total of N409, 915,331,675.45 as severance and death benefits to ex-workers of the defunct Power Holding Company of Nigeria , the Bureau of Public Enterprises has said.
In the statement issued by its Head of Public Communications, Mrs. Amina Othman Tukur, the BPE said the list submitted to it by the PHCN had a total number of 47, 913, adding that out of the number, 47,275 representing 99 per cent had been fully paid. Similarly, 25 have been audited and are awaiting cash-backing, nine with initial documentation problems will soon be audited, while 23 have documentation problems.
It said: “This is as a result of 15 of them having an error in serial numbering, 66 possible duplicates in submissions which 14 of them have been recently audited; and 196 have been cleared and are awaiting cash-backing; 392 cleared and sent to the Pension Transitional Arrangement Directorate for pension related benefits and 694 to the Presidential Initiative for Continuous Auditing for Gratuities and Deceased Benefits.
On the 10 per cent equity shareholding for the staff of the defunct utility company, the BPE explained that in accordance with the privatisation policy, workers of enterprises that are slated for privatisation are entitled to be allotted some percentage of the outstanding shares of the company, adding that in the case of the PHCN, it reserved 10 per cent of the balance of 40 per cent for workers of the successor companies.
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