The Nation Newspaper

Tag: Benjamin Dikki

  • Reps summon BPE’s DG over proposed sale NITEL/ Mtel

    Reps summon BPE’s DG over proposed sale NITEL/ Mtel

    The House of Representatives yesterday summoned the Director-General of the Bureau of Public Enterprises (BPE), Benjamin Dikki to appear before its Committees on Privatisation and Commercialisation and Legislative Compliance, in a bid to halt the proposed liquidation of Nigeria Telecommunications Company (NITEL) and the Mobile Telecommunication Company (MTEL).

    Dikki is to amongst other things explain the reason for shunning earlier resolutions of the House stopping the sale/liquidation of the entities.

    The House on 13th March 2012 and October 3rd, 2013, after considering and adopting the resolutions of the report of an investigation by its Committees on Privatisation, Commercialisation, ICT and Finance, had directed the federal government to halt the sale/ liquidation of NITEL/ MTEL

    The House cited, among other reasons, undervaluation and security for halting the liquidation at the time.

    Moving a motion under urgent National Importance yesterday, Hon Ibrahim Shehu Gusau (APC, Zamfara) argued that the motion to summon Dikki, is to explain why the National Council on Privatisation and Bureau of Public Enterprise could ignore the resolution of the House on the issue:

    “Despite the House’s resolution on the matter which was communicated to the National Council on Privatisation and Bureau of Public Enterprise, these agencies became defiant and initiated the process of liquidation which is almost concluded,” he said.

    The lawmaker said it was disturbing that the BPE had appointed a liquidator for NITEL/MTEL and the continuation of the transaction with guided liquidation contrary to the House’s resolutions.

    He said there is a need to stop the liquidation of the companies in the public interest.

  • Govt votes $2.6b PHCN cash for workers’ pay

    Govt votes $2.6b PHCN cash for workers’ pay

    THE $2.6 billion (about N415.2 billion) realised from the unbundling of the Power Holding Company of Nigeria (PHCN) will be used to defray the workers’ benefits, Director-General of the Bureau of Public Enterprises (BPE) Benjamin Dikki said yesterday.

    Dikki said there was delay in paying some workers because of the differences in names, multiple Retirement Savings Accounts (RSA), wrong account numbers, among others.

    He said the funds required for the exercise had been remitted to the Office of the Accountant-General of the Federation (OAGF) who has remitted same to the banks for payment.

    In a statement in Abuja, BPE Director of Communications Mr. Chigbo Anichebe said Dikki spoke in Abeokuta, Ogun State capital, while fielding questions from reporters at the funeral of the mother of the Chairman, Senate Committee on Privatisation and Commercialisation, Senator Olugbenga Obadara.

    He said as auditors verified and reconciled these differences, payments would be concluded as expeditiously as possible.

    The statement quoted Dikki as saying the Federal Government was committed to concluding the payment of all verified entitlements of PHCN successor-companies, workers before the end of the second week of October.

  • BPE, power investors brainstorm on entrance to capital market

    BPE, power investors brainstorm on entrance to capital market

    • Govt briefs PHCN investors

    The Bureau of Public Enterprises ( BPE) and the new owners of the Power Holding Company of Nigeria (PHCN) yesterday brainstormed on how to raise long term capital from the capital market into the sector.

    A source, who spoke to The Nation in confidence, said the meeting discussed how the investors can raise long-term funds from the market for the sector.

    He noted that the meeting was part of the preparation for a smooth handover of the plants to their buyers in order to reduce liabilities to the barest minimum.

    BPE’s Director-General, Benjamin Dikki presided over the meeting that was held at the Transcorp Hilton, Abuja.

    The Nation gathered that the meeting was interactive with the stakeholders in the power sector.

    Those who attended included the Managing Director, Nigeria Electricity Bulk Trade , the Director-General, Security and Exchange Commission (SEC), Ms. Aruma Oteh and the Managing Director, Nigeria Electricity Liability Management Company (NELCOM), and others.

    Dikki gave an update on the payment of severance package to the PHCN employees to the investors.

    It was also learnt that the modality on how to engage labour under the new dispensation was a major issue at the meeting.

    The source added that the meeting deliberated on the new workforce of the PHCN, and and the possibility of retaining some.

    The Nation yesterday reported that the BPE and the new owners of the power entities were to meet.

  • BPE promises improved power by Sept.

    BPE promises improved power by Sept.

    The Bureau of Public Enterprises (BPE) has assured “drastic improvement” in power supply by September this year.

    It also said that power would be stable by the first and second quarter of next year.

    These disclosures by the BPE DG, Benjamin Dikki in Abuja at the Second annual national workshop of the Chartered Institute of StockBrokers (CIS), came hours after the Minister of Power, Prof. Chinedu Nebo said that a plethora of investments would be required to achieve the 40,000 megawatts target mentioned in the Vision 2020.

    The BPE boss said the improvement and stability of power would be possible after the final takeover of the PHCN successor firms by private investors in the power sector.

    He however, assured investors in the sector of the safety of their investments and increased rate of returns on their investments.

    Speaking on the workforce that would be engaged by the investors in the power sector, the minister said the federal government would not lay off the Power Holding Company of Nigeria (PHCN) workers but instead disengage them from public service employment so that they can migrate to the private sector.

    Nebo explained that the current PHCN workers would be retrained and would be part of the new energy market or be engaged in other critical sectors of the economy.

    On the pending severance benefits of the PHCN workers, the Minister stated that outstanding benefits to the workers would be paid to them by the end of July, as ”all bottlenecks to the current privatisation exercise were being resolved.”.