PHCN office
Chineme Okafor
The Federal Government has said that it will not go against the provisions in the Pension Reform Act 2004 in paying out accumulated severance benefits to workers of defunct Power Holding Company of Nigeria (PHCN).
It insisted that it will not succumb to the pressure by setting unwholesome precedents in labour relations within Nigeria irrespective of its desire to quickly settle lingering differences with members of the various labour unions in PHCN in accordance with the ongoing privatisation of successor generation and distribution companies of PHCN.
Minister of Power, Prof. Chinedu Nebo who provided an update on ongoing negotiations between the Federal Government and members of PHCN unions, disclosed that substantial agreements have been achieved on the lingering negotiation except for the issue of adherence to extant pension provisions in the country.
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