{"id":75299,"date":"2020-08-10T16:34:43","date_gmt":"2020-08-10T15:34:43","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=75299"},"modified":"2020-08-10T16:34:43","modified_gmt":"2020-08-10T15:34:43","slug":"fg-spends-n409billion-to-settle-ex-phcn-workers-bpe","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-spends-n409billion-to-settle-ex-phcn-workers-bpe\/","title":{"rendered":"FG spends N409billion To Settle Ex-PHCN workers-BPE"},"content":{"rendered":"
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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FG spends N409billion To Settle Ex-PHCN workers-BP<\/p>\n

The Federal Government has so far spent N409, 915,331,675.45 on the
\npayment of severance benefits to ex-workers and death benefits of the
\ndefunct Power Holding Company of Nigeria (PHCN), the Bureau of Public
\nEnterprises (BPE) has said.<\/p>\n

In a statement signed by the Bureau’s Head of Public Communications,
\nMrs. Amina Othman Tukur, she said the payment streams were categorized
\ninto two: Severance payments to the former active staff of PHCN and
\npayment of PHCN Retirees\/Death benefits which PHCN could not pay before
\nit handed over to the successor companies.<\/p>\n

According to the statement, for active, the total number submitted to
\nthe BPE by PHCN was 47, 913 and out of the number, 47,275 representing
\n99 percent have been fully paid. These were forwarded to the Office of
\nthe Accountant General of the Federation (OAGF) for payment in 36
\nbatches.<\/p>\n

BPE said out 638 outstanding active staff, there are: 167 duplicate and
\nblank spaces on the list, 414 never turned up for verification, 25 have
\nbeen audited and are awaiting cash-backing, 9 with initial documentation
\nproblems will soon be audited; and 23 have documentation problems.<\/p>\n

The statement notes that in the course of the verification,\u00a0 81 cases
\nwere found to be short-paid which have been corrected and cash-backed
\nwhile 180 cases recently treated and recomputed for short\u2013payment are
\nawaiting cash backing.<\/p>\n

The Statement further said “4,438 PHCN Retirees\/NOKs have been submitted
\nto BPE in eight batches and to date, 3,131 representing, 71 percent of
\nthe beneficiaries have been fully paid their entitlements with 1,307 yet
\nto be paid.<\/p>\n

“This is as a result of 15 of them having an error in serial numbering,
\n66 possible duplicates in submissions which\u00a0 \u00a014 of them have been
\nrecently audited; and 196 have been cleared and are awaiting
\ncash-backing, 392 cleared and sent to the Pension Transitional
\nArrangement Directorate (PTAD) for pension-related benefits and 694 to
\nthe Presidential Initiative for Continuous Auditing (PICA) for
\nGratuities and Deceased Benefits.”<\/p>\n

On the two (2) percent Union deductions, the Bureau said a total of
\nN7,485,291,722.89\u00a0 has already been paid to the defunct PHCN\u00a0 Unions
\naccount from batches 1-36 while the Bureau has already written to the
\nAccountant General of the Federation (AGF) to credit the Unions’ Account
\nfor the remaining deductions.<\/p>\n

On the ten (10) percent equity shareholding for the staff of the defunct
\nutility company, the Bureau explained that in accordance with the
\nprivatisation policy, workers of enterprises that are slated for
\nprivatisation are entitled to be allotted some percentage of the
\noutstanding shares of the company which in the case of the PHCN, the
\nBureau reserved 10 percent of the balance of 40 percent (4 percent) for
\nworkers of the successor companies.<\/p>\n

The Ten (10) percent shares due to workers of the Power Companies would
\nbe allotted to them after the Nigerian Electricity Regulatory Commission
\n(NERC) completes its assignment on the valuation of the investments done
\nby the state in the distribution companies. The valuation would form the
\nbasis on which shares will be allotted to each state government.<\/p>\n

Regarding the non-computation of 16 months’ entitlements of staff of the
\ndefunct PHCN, the Bureau said that during one of the engagements with
\nthe unions on January 13, 2014, at the Federal Ministry of Power, it was
\nagreed that “7.5 percent employer pension contribution of July 2012 to
\n31st October 2013 will be paid by the Federal Government (Market
\nOperator)”. Though the decision had been communicated to the Market
\nOperator, the Unions suggested that BPE should escalate the matter to
\nthe Vice President and the Chairman of the National Council on
\nPrivatisation (NCP) for consideration and resolution. Papers to the NCP
\non the matter are being completed.<\/p>\n

On the post-retirement training of the former PHCN staff, BPE said there
\nwas a decision to conduct a post-retirement training for them but that
\nthe lack of cohesion among the agencies that had the responsibility to
\norganize the training has caused the non-implementation. It added that
\nas a result of this, funding for the assignment is now in jeopardy.<\/p>\n

BPE said some of the ex-workers and pensioners\/NOKs are having
\ndifficulties to access their entitlements since 2013 when their payments
\nwere cash-backed due to invalid account details such as:<\/p>\n

a)\u00a0 \u00a0Non-nuban account numbers<\/p>\n

b)\u00a0 \u00a0Wrong account names\/numbers<\/p>\n

c)\u00a0 \u00a0 Wrong Bank names.<\/p>\n

For the pensioners\/NOKs, it is invalid RSA details such as:<\/p>\n

a)\u00a0 \u00a0 \u00a0 Wrong RSA Account\u00a0 names<\/p>\n

d)\u00a0 \u00a0Wrong RSA Pins<\/p>\n

e)\u00a0 \u00a0 Wrong account RSA<\/p>\n

f)\u00a0 \u00a0 \u00a0 \u00a0Multiple RSA accounts<\/p>\n

g)\u00a0 \u00a0 Failed payments attempted once\u00a0 by officials of the Various paying
\nBanks; and<\/p>\n

h)\u00a0 \u00a0 Bank Account Detail Dormancy.<\/p>\n

The Bureau and the National Pension Commission (PENCOM) are working to
\nresolve the problem.<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 FG spends N409billion To Settle Ex-PHCN workers-BP The Federal Government has so far spent N409, 915,331,675.45 on the payment of severance…<\/p>\n","protected":false},"author":1,"featured_media":39786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-75299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFG spends N409billion To Settle Ex-PHCN workers-BPE - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fg-spends-n409billion-to-settle-ex-phcn-workers-bpe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG spends N409billion To Settle Ex-PHCN workers-BPE - 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