NEWS
Transcorp takes over Afa after paying N26bn
Transcorp power consortium has paid an equivalent of 26.25 billion being 25 percent of the N105.3billion winning price for the Afam power Place to formally takeover the assets of the company.
The Head, Public Communications, Amina Othman, of the Bureau of the Public Enterprises (BPE), said in a statement, yesterday that the power plant was handed over to Transcorp on Thursday.
Mr. Alex Okoh, the Director – General of the BPE was quoted as saying that the consortium paid cash into the federal government account with the requirements of the National Coucil on Privatisation (NCP).
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Okoh said the ’emphasis on cash payment is to correct some misinformation in the media purporting that the Afam deal was a mere reconciliation of figures between the federal Government and Transcorp.
“For the benefit of those who wish to know, this idea was never accepted by both the NCP and it’s several sub-comittees. However, with the payment of the Money by Transcorp to the treasury, we hope this unfounded and concocted information being fed to the public would stop”.