Nigeria: BPE Sheds Light On Return of Bidders' Bank Guarantee

2 November 2012

The Bureau of Public Enterprises (BPE) has thrown more light on criteria that must be met before the preferred bidder's bank guarantee earlier submitted to it by successful bidders for Power Holding Company of Nigeria (PHCN) successor generation and distribution companies would be returned to them.

The privatisation agency, in a statement signed by its spokesman, Chukwuma Nwokoh, a copy which was made available to THISDAY Thursday, said the bank guarantee would only be returned upon payment of the 25 per cent of the purchase price of the assets.

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