Federal Government said yesterday that it won’t handover the 15 Power Holding Company of Nigeria (PHCN) successor companies to their buyers without them completing the outstanding 75 percent payment of their respective bid considerations.
The Bureau of Public Enterprises (BPE)’s spokeman Chigbo Anichebe said in a statement the companies have not been handed over to the buyers as being said by people.
Anichebe said the National Council on Privatisation had only approved the constitution of Transition Committees for the 15 Power Holding Company of Nigeria (PHCN) successor companies whose preferred bidders have paid only 25 percent of the bid value.
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