PHCN

How N14.7bn proceeds of defunct PHCN was  hidden in commercials banks

How N14.7bn proceeds of defunct PHCN was hidden in commercials banks

By Henry Umoru – Abuja The Senate has uncovered how N14.7bn proceed of defunct Power Holding Company of Nigeria (PHCN) was hidden in Commercial Banks by the  Bureau of Public Enterprise (BPE). The probe is carried out by Senator Matthew Urhoghide, Peoples Democratic Party, PDP, Edo South led Senate Committee on  Public Accounts. The Committee is […]
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Power Sector : Senate probes OBJ, Yar’Adua, Jonathan

Power Sector : Senate probes OBJ, Yar’Adua, Jonathan

The Senate, yesterday, constituted an ad-hoc Committee to carry out a holistic investigation into the management of funds appropriated to the power sector from the Olusegun Obasanjo civilian administration to date.

Confusion trails sack of PHCN staff, payment of benefits

Confusion trails sack of PHCN staff, payment of benefits

THE confusion trailing the November 1 hand-over of Power Holding Company of Nigeria, PHCN, facilities to new owners deepened yesterday, as reports indicated that thousands of workers of the defunct PHCN have been sacked with many of them yet to get their severance benefits.