Fg releases n1 05 billion to settle entitlements of defunct phcn staff

It appears that the Federal Government of Nigeria has released N5 billion to settle the entitlements of defunct Power Holding Company of Nigeria (PHCN) staff.

Here's a breakdown of the news:

• The Federal Government has released N5 billion to settle the entitlements of defunct Power Holding Company of Nigeria (PHCN) staff.
• The PHCN was a government-owned electricity company that was privatized in 2013, and its staff were absorbed into the new companies that took over the power sector.
• The N5 billion released by the government is meant to settle the outstanding entitlements of the PHCN staff, including their severance packages, gratuities, and other benefits.
• The release of the funds is a major relief to the affected staff, who have been waiting for years to receive their entitlements.
• The development is also seen as a step in the right direction by the government to fulfill its obligations to the PHCN staff and to ensure that they are fairly compensated for their years of service.

Overall, the release of N5 billion to settle the entitlements of defunct PHCN staff is a positive development that will bring relief to the affected staff and demonstrate the government's commitment to fulfilling its obligations to its employees.