At last, FG privatises PHCN, 40% workers retained

Posted: November 2, 2013 in News


Minister of Power, Prof. Chinedu NeboMinister of Power, Prof. Chinedu Nebo
| credits: File copy

Finally, the Federal Government, on Friday, officially concluded the privatisation of Power Holding Company of Nigeria after it handed company over the 10 successor companies, retaining 40 per cent of the old workforce in the process.

The handling over ceremony was performed in Lagos, Ibadan, Benin, Enugu and Abuja respectively.

One of our correspondents learnt that the retained workers are given temporary appointments by the Federal Government to run the newly privatised companies for six months as

It was gathered that two different letters had been dispatch to the power companies across the country for onward circulation to workers as from Monday.

A senior official of the defunct PHCN, who spoke anonymously, told our correspondent that one of the letters was a disengagement letter while the second one is a temporary reappointment letter.

While all the 47,000 workers of the defunct PHCN will receive their disengagement letters, the source said the temporary appointment letters would only go to those that would be retained for operations of the company.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s