The Acting Director-General of the Bureau for Public Enterprises (BPE); Mr Benjamin Dikki has confirmed the receipt of bank guarantees for 15 per cent of transaction value from preferred bidders of Power Holding Company of Nigeria (PHCN) successor companies.

At a pre-negotiation meeting with the preferred bidders in Abuja, Mr Dikki said that the payment of the guarantees affirm that all the preferred bidders are qualified to enter for the privatization process.

He assured all preferred bidders and their financiers that the Federal Government is working assiduously to ensure a hitch free handover of both power generation companies and  distribution companies.

The preferred bidders on their part asked the Federal Government to create an enabling environment that would help in the realization of steady power supply in the country.