ABUJA — Severance payments to workers of the defunct Power Holding Company of Nigeria, PHCN, have so far gulped more than N389.58 billion from the national treasury.

The exercise involved payments to no fewer than 46,744 or 98 per cent out of the 47,913 bonafide staff, who received over N373.17billion as their final entitlements as well as some 2,791 retirees, who got more than N16. 41billion.

Director General, Bureau of Public Enterprises, BPE, Mr. Benjamin Dikki, revealed this yesterday to members of the National Union of Electricity Employees of Nigeria, NUEE, who came to protest in his office in Abuja.

Dikki was quoted as telling the union in a statement made available to Vanguard, that only 1,169 of the 47,913 workers of the defunct PHCN and about 1,516 retirees have not yet to be paid.

The disclosure was said to have followed a protest by NUEE, led by its National President, Comrade Mansur Musa, who went to the bureau’s office in Abuja to protest the non-payment of severance benefits to some of their members.

For the workers, he explained that the outstanding number included those that had exited PHCN before the severance payment commenced; those being processed for validation; and those yet to be identified by PHCN as bona fide workers.

While the outstanding retirees are made up of those who have so far failed to turn up for verification or were still undergoing further verification, and  the next of kin of the deceased staff that could not produce the letters of administration.

Dikki also said for the active staff, the number of beneficiaries was processed in 30 batches and the retirees in 11 batches.