Concerns over accountability and proper use of funds deducted from staff of the defunct Power Holding Company of Nigeria (PHCN) and paid to the labour union during the 2013 privatisation exercise have resurfaced.
According to documents from the Bureau of Public Enterprises (BPE), the sum of N74,485,292,733 was paid into the account of the former PHCN Union.
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The amount was said to have emerged from a 2 percent deduction from the entitlements of the disengaged workers, with a view to using the money to finance processes that would lead to the complete payment of all stipulations due to the forced retirement of the staff.
Originally published by
tgnews.com.ng
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