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PANEL REPORT VINDICATES US - NUEE

By NBF News
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By Victor Ahiuma-Young
NATIONAL Union of Electricity Employees, NUEE, Tuesday, said the report of the panel of investigation on pension matters in the power sector vindicated the union from the pension scam, contrary to the alleged plan by the former Minister of Power, Prof. Barth Nnaji.

An investigative panel set up by Nnaji to audit the controversial Power Holding Company of Nigeria, PHCN, Superannuation Pension Fund, where over N200 billion was said to be missing, had submitted its report, Monday.

Reacting to the committee's report, General Secretary of NUEE, Mr. Joe Ajaero, in a statement, said the report of the committee had again failed to indict PHCN workers and their leaders.

Meanwhile, Ministry of Power has denied report that power generation has dropped by 1,000 megawatts.

A statement by the Permanent Secretary, Dr. (Mrs) 'Dere Awosika, said: 'Presently, the peak generation has remained at 4,439.5 megawatts. This peak status was gained on September 5, 2012 and since then it has been steady.'

The statement quoted the Minister of State for Power, Mr. Darius Dickson, as assuring 'the recent gains in the power generation are not only being consolidated, they will be improved upon.'

The union, however, regretted that the committee's investigation dwelt only on management contribution to the pension fund but failed to realise that all PHCN expenditure, including salaries, check-off dues, pension contributions and taxes, were made from the Internally-Generated Revenue, IGR, which is in the custody of the management.

The union said that the committee, which established the existence of accounts with the Barclays Bank, London, failed to realise that the union and management of PHCN had written letters to transfer the accounts to the country before now.