Vice-President of Nigeria, Alhaji Namadi Sambo who is also the Chairman of the National council on privatization (NCP), will tomorrow, the 1st of November, formally hand over the physical assets of 14 Power Holding Company Company of Nigeria (PHCN) successor companies to their new owners.
The event is expected to occur simultaneously at the headquarters of the successor firms across the country where the vice-president would be represented by the ministers and other top government functionaries.
According to the report, the hand over would coincide with the decision by the National Union of Electricity Employees (NUEE) to withdraw its members from all the PHCN facilities across the country by tomorrow.
The federal government yesterday disclosed that it had paid a total of N214.22 billion to 40,093 workers of the workers as severance allowance.
The federal government however is reported to have set aside the entire proceed of N384 billion from the transaction to settle labour liabilities and has in its determination to resolve all labour issues before the handover, dispatched a team of consultants and its staff for the biometric data capture of 1, 478 employees of the Enugu Distribution Company who could not be audited because of virus attack on the system where their names were stored.
