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By Ndubuisi Francis
The Bureau of Public Enterprises (BPE) has debunked reports that it diverted N14 billion sales proceeds of the defunct Power Holding Company of Nigeria (PHCN) into private banks.
The privatisation agency said the question of diversion did not arise as all the proceeds were paid into the Privatisation Proceed Account domiciled with the Central Bank of Nigeria (CBN).
The Bureau in a statement said: “The truth of the matter is that the BPE did not and has not diverted proceeds of the PHCN privatisation as all the proceeds were paid into the Privatisation Proceed Account domiciled with the Central Bank of Nigeria (CBN).