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    PHCN: Reps to investigate alleged sale of assets

    The lawmaker pointed out that there were widespread claims of irregularities and improper advertisement on national dailies and journals. The House of Representatives on Tuesday resolved to investigate alleged fraudulent sale of Power Holding Company of Nigeria (PHCN) none-core assets and scraps.This was sequel to a motion under matters of urgent national importance by Rep. Rita Orji (Lagos-PDP).Moving the motion, Orji explained that auctioning of PHCN cargoes, scraps and obsolete items by Nigeria Electricity Liability Management Ltd (NELMCO) worth over N20 billion was recently carried out.She said that over N1.5 billion was claimed to have been realised from the sales.The lawmaker pointed out that there were widespread claims of irregularities and improper advertisement on national dailies and journals.

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