Business
NELMCO Sets To Resolve PHCN Suits
The Managing Direc
tor of the Nigeria Electricity Liability Management Ltd (NELMCO), Dr Sam Agbogun, said the company would resolve the more than 300 litigations against PHCN before its privatisation.
Agbogun told newsmen in Abuja that the company would ensure that all cases involving the PHCN were settled to facilitate smooth privatisation exercise.
“We have lots of challenges that are not known to the public; there are more than 300 litigations in the court against PHCN.
“Many people sue PHCN and on the other hand, PHCN sued some people; as I am talking to you now the claims by some of these people either for electrocution, illegal disconnection, or trespassing is over N500 billion.
“But all these cases must be resolved and NELMCO will not allow any one case to remain unresolved; and there must be out of court settlement for each of these cases to enable a smooth privatisation,’’ he said.
Agbogun explained that the company had inadequate funds to settle its creditors, adding that it was working with the Ministries of Power and that of Finance, and the Budget office to resolve the issue.
He also said that the company was having problems with the verification of customers’ claims.
Agbogun said the Bureau for Public Enterprises was auditing the assets of the PHCN to determine its core and non core assets, which would form the major sources of funding of the liability management company.
The managing director disclosed that the target of the company was to ensure that all PHCN’s creditors were settled before privatisation to avoid truncating the Federal Government’s Power Reform Agenda.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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