Controversies Bedevil Barth Nnaji As He Throws in Towel
Power Minister, Barth Nnaji
The President of the Federal Republic of Nigeria accepted today the resignation of Barth Nnaji, the hitherto Minister of Power.
The resignation is reportedly connected to the revelations first premiered by Business Day which linked the former cabinet member to an underground bid for Afam Power Station.
Nnaji revealed to the National Council on Privatiation last Friday that his company, Geometrics, was a shareholder in a company that bid for the Afam Power Station.
Afam Power Station has an installed capacity of 775 Megawatts which is 18% of the country’s current total power generation.
The revelation came as a surprise, although many Nigerians were already aware that the privatiation of PHCN was simply an unbundling of the country’s power assets to the cabal.
However the undoing of Mr. Nnaji may have come about as a result of the dispute between himself as minister and PHCN employees.
The PHCN employees were embittered by Nnaji’s refusal to pay them adequate terminal benefits running into hundreds of billions of Naira. The conflict-of-interest being he would not want an asset he was planning to acquire to be hugely indebted to the soon-to-be disengaged PHCN staff.
More details as they emerge.
Related Posts
2 Comments
-
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank (UK) Limited, an independently incorporated subsidiary of...
- August 1, 2018
-
The Worrisome Trend of Sensational Social Media “Journalism” and the Impact On Legitimate Business Concerns: Recent Travails of FCMB, GTBank and First BankOn June 25, 2018 I woke up to yet...
- June 26, 2018
-
Azman Air commences flight operation in SokotoAzman Air Thursday commenced flight operation to Sokoto state....
- February 21, 2015
-
NRC increases Lagos goods trains, eyes fuel haulageThe Nigerian Railway Corporation says it has increased its...
- June 23, 2016
Nigeria News
- Shettima ya jajantawa waɗanda turmutsutsi ya shafa, yayi kira da a Inganta tsarin rarraba tallafi
- FCMB Group Shareholders Approve N340 Billion Capital Raise
- Yan Sanda sun tsaurara tsaro a Kaduna don bukukuwan karshen shekara
- Tinubu yayi alhinin rasuwar tsohon Alkalin Kotun Koli, Uthman Argungu
- Stampede: Nigeria now home to citizens fighting, struggling for rice – CUPP
Femi Fortune-Idowu
August 29, 2012 at 10:23 am
Im concerned about the resignation of Barth Nnaji. US had predicted before now that Barth effort to create change in Nigeria power sector may be frustrated due to deep corruption and self interest of some people when he left US to Nigeria in order to contribute his quota to the Nigerian Power sector. He had made great impact in US, UK and in selected world economies. Nnaji, a man who knows in and out of power with integrity. Im sad we are loosing Barth to other nations who know what he carries and his capacities again. Its so sad we continually loosing our best brains to other nation of the world. Where can we go from here?
Fem
August 29, 2012 at 1:48 pm
NATURALLY NOBODY WILL BE HAPPY WITH THE PROF THROWING IN THE TOWEL. THE POWER SECTOR IS ACTUALLY TAKING SHAPE AND THINGS ARE GETTING BETTER AND THE FUTURE LOOKS BRIGHTER AND THEN THE PILOT DECIDED TO GO. I CAN’T BLAME HIM BUT THE SYSTEM. WISHING HIM CONTINUOUS SUCCESS IN HIS BIZ.