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...BPE Set to Pay Workers From Cletus Akwaya in Abuja The Bureau of Public Enter-prises (BPE) said yesterday it has completed arrangements to pay off the salary arrears being owed staff of Daily Times of Nigeria (DTN) Plc by past management. THISDAY checks revealed that the staff are owed about 10 months salary arrears while retired staff are owed terminal benefits both running into millions of Naira. In a statement by Head of communications and Marketing, Charles Odenigbo, BPE said the payment followed successful completion of financial bids for the company and receipt of full payment for the enterprises by the new core investor, Folio Communi-cations Limited. Folio Communications had acquired 96.5 per cent equity in the premier newspaper at N1.25 billion under the privatization programme. The statement said BPE was awaiting approval of the National Council on Privatisation (NCP) for the settlement of all liabilities listed before the arrears of salaries would be paid. "The BPE has already compiled the list of present and past workers of the Daily Times and their entitlements," the statement noted assuring that no staff would be left out in the exercise as adequate documentation has been done to avoid mistakes. It said the sales purchase agreement entered into with the new core investor was guided by the overall interest of workers and the desire to promote the historical significance of the newspaper company. The statement said DTN would be handed over to the new owners after settlement of all outstanding salaries and benefits. Meanwhile, a source at Folio Communications, new owners of DTN said yesterday in Abuja that the company has concluded "plans to reposition the newpspapwer to its enviable position." The source expressed the hope that the payment of salaries to workers would be concluded on time for the August 25 handover to Folio Communications. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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