NITEL’s debt now N208bn – BPE

Posted by admin Headlines Tuesday, March 1st, 2011

The Nigerian Telecommunications Limited currently owes over N208bn debt, the Director-General, Bureau of Public Enterprises, Ms. Bolanle Onagoruwa, has said.

Onagoruwa disclosed this in a report she presented to the House of Representatives Committee on Communications on Tuesday.

She said, “In order to determine the total indebtedness of the company, the Bureau advertised, requesting all creditors of NITEL/Mtel to submit their claims. Claims received will be verified and negotiated before settlement at the conclusion of the sale.

“So far, claims of over N208bn have been received. There may be more claims, especially from the plethora of cases pending against the company.”

The director-general also admitted that the BPE was facing challenges in its bid to sell NITEL.

Meanwhile, President Goodluck Jonathan has approved N33.4bn for the payment of outstanding entitlements of ex-workers of NITEL.

A statement issued by BPE spokesman, Mr. Chukwuma Nwokoh, said the payment would be effected in two installments in March and May, and would begin next week.

The boss of the privatisation agency explained that the verification and payment of all NITEL/Mtel staff and pensioners, except the casual workers, were carried out in 14 designated centres across the country between December 6 and 21, 2010.

Onagoruwa noted that N54.4bn was sourced to settle the outstanding liabilities.

-Punchwp_posts