BPE presents discharge certificates to three privatised firms

12 Mar BPE presents discharge certificates to three privatised firms

The Bureau of Public Enterprises (BPE) has officially presented discharge certificates to three privatised enterprises which were earlier delisted from monitoring activities by the Bureau.

They are Cement Company of Northern Nigeria (CCNN) located in Sokoto State; Federal Superphosphate Fertilizer (FSFC), Kaduna State and Ikoyi Hotels Ltd. (Southern Sun), Lagos State.

Presenting the certificates to the delisted companies on Wednesday, March 9, 2022, in Abuja, Director General of the Bureau of Public Enterprises (BPE), Alex A. Okoh said that the ceremony was as a result of the fulfillment of the covenants stipulated in the Post-Acquisition Plan (PAP) by the enterprises.

Mr Okoh noted that during the Bureau’s routine monitoring on the three delisted enterprises, the core investors were found to have achieved all; and in some instances, exceeded the obligations they covenanted to, in their respective PAPs.

He added that “it is on this note that the National Council on Privatisation (NCP) granted approval for the delisting of the enterprises,” adding that the Federal Government would continue to support credible private sector investors in the country by providing a conducive environment for business to thrive and ensure the continued growth and development of the economy.

Mr Okoh maintained that despite their discharge from regular monitoring activities, the Bureau would occasionally request for information or visit the enterprises in order to report on their performances as showcases of the privatisation and reform programme of the Federal Government.

Representatives of the three delisted enterprises, all commended the privatisation programme of the Federal Government and assured that they would promptly respond to requests by the Bureau.