The president was said to have decided to accept the resignation, following Nnaji’s admission that companies linked to him had submitted bids for one of the successor companies created from the unbundling of the Power Holding Company of Nigeria (PHCN).
However, speaking to THISDAY Tuesday night on his decision to leave the cabinet, Nnaji said he opted to resign in order to save the privatisation and reform programme from those who might want to use ulterior motives to bring down the programme.
Nnaji said he had met with the president Tuesday afternoon, during which he (president) informed him (Nnaji) that he was using his company as a proxy to buy shares on behalf of the president in Afam power station through the privatisation process.
On hearing this, he informed the president that rather than drag him (Jonathan) and the entire process through the mud, he would prefer to resign but reminded the president that he had brought it to his attention two weeks ago that a company he owned was part of a bidding consortium that had submitted bids for Enugu Distribution Company.
