Former-PHCN Worker splashes ₦5.5m Gratuity On Jeep

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Ex-Power Holding Company of Nigeria (PHCN) staff member has spent ₦5.5million of his ₦6million severance pay on the purchase of a Sports Utility Vehicle (SUV). The ex-PHCN's staff, who's in his late 50s, bought the brand new car a couple of days after collecting his pay.
  Continue after the break.

“He is a middle-aged man, with no house. He is still struggling and has nothing showing for his over 20 years'service in the state-owned electricity company,” his colleagues, have been shocked at his behaviour, said.“

 We, his colleagues, were shocked by the development because we expected him to plan with the cash, knowing full well he would not be absorbed by any of the 14 firms that bought the assets of PHCN,' his colleagues said.'

  They said it took the intervention of the District Manager and some senior staff to convince the man to offer the car.At the finish of your day,

 “we succeeded in assisting him to resell the jeep for over N5million, and the cash was handed over to him and advised him to invest it”, the they added.