The Bureau of Public Enterprises, BPE, stated that N373.38 billion has been spent on the settlement of former workers of the defunct Power Holding Company of Nigeria, PHCN.
The Head, Public Communications of BPE, Alex Okoh, made this known on Wednesday, September 30, in Abuja in an interview with the News Agency of Nigeria, NAN.
Okoh said that out of 47,913 former staff, 47,029 had been settled, making it 98 per cent of the affected number that was settled. He said that the retirees and next of kin of deceased retirees had been paid N16.41 billion.
He said the outstanding payments were for 395 ex-active staff, 975 retirees and next of kin as well as 489 unidentified ex-active staff.
![[The Nigerian Economy Daily] FG has approved the closure of five foreign missions and embassies](https://nairametrics.com/wp-content/uploads/2017/05/nigerian-economy-today-1.jpg)
