The Corporate Affairs Commission (CAC) has revoked the certificates of incorporation of two Nigerian Postal Service (NIPOST) subsidiaries, namely NIPOST Transport and Logistics Services Limited and NIPOST Transport and Logistics Services Company Ltd. Platforms Africa reports that the reason for this revocation is said to be due to the improper procurement of properties by these subsidiaries. This decision was announced by CAC in a statement released on Monday. This development comes after the discovery of an illegal transfer of N10 billion in restructuring funds, which was released by the federal…
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