Govt ‘liquidates’ PHCN, transfers workers to successor firms, agencies

Guardian

9 January 2012

Govt ‘liquidates’ PHCN, transfers workers to successor firms, agencies .

THE wind of change blowing across the public sector has swept away the Power Holding Company of Nigeria (PHCN). In its stead, 18 successor firms have emerged.

The Federal Government, which has stepped up the implementation of the Electric Power Sector Reform (EPSR) Act of 2005, says PHCN workers will be absorbed by the 18 firms, which were created by the law. The other personnel will be transferred to agencies under the Ministry of Power.

Minister of Power, Prof. Barth Nnaji, who confirmed the “liquidation” of PHCN, told reporters at the weekend in Abuja that PHCN corporate office in Maitama, the Federal Capital Territory (FCT) would now house the Ministry of Power and its agencies, whose offices are located in different parts of Abuja.