The federal government has dissolved the executive management of the Niger Delta Power Holding Company of Nigeria Limited (NDPHC) led by James Abiodun Olotu.
Babachir Lawal, secretary to the government of the federation, disclosed this in a statement, saying the sack takes immediate effect.
While Olotu was asked to hand over to Chiedu Ugbo, all executive directors were asked to hand over to the most senior officer in their departments.
“All executive directors of the company and the general manager (audit) are directed to hand-over immediately to the most senior officer in their respective departments,” the statement read.
“The Federal Government appreciates the services of the disengaged officers during their tenure of office.”
The NDPHC was established in 2005 to serve as the legal vehicle to contract for, hold, manage and operate the assets of Nigerian Independent Power Project (NIPP), using private sector best practices.