FG Pays PHCN ₦118b as Staff Terminal Benefits

The payment of parting benefits to workers of the Power Holding Company of Nigeria (PHCN) had commenced yesterday with the approval of about ₦118 billion to 20,304 members of staff, who had been cleared by the federal government.

Payment was being made by the Office Accountant General of the Federation (OAGF) which was aid to have commenced on August 1, also on August 5 another 16,366 members of staff of distribution companies (DISCOs) were cleared by the auditors and were ready for onward transmission to the OAGF for payments valued at about ₦84.5 billion.

The Chairman, Implementation Committee on the settlement of the PHCN staff terminal benefits, Mr. Godswill Igali, said the initial batch of 3,938 names of staff comprising those from generation companies (GENCOs) and PHCN headquarters had been forwarded to the OAGF for payment, which was to the tune of ₦34.585 billion, so far 20,304 staff had been cleared for payment and hopefully more staff will be cleared by the auditors before the end of this week as it is a continuous process.