The Corporate Affairs Commission (CAC) has invalidated the incorporation certificates of two subsidiaries of the Nigerian Postal Service (NIPOST) due to irregular procurement practices.
The affected subsidiaries are NIPOST Transport and Logistics Services Company Ltd and NIPOST Properties & Development Company Ltd.
This comes after the Senate, in January, asked the CAC to immediately wind up and deregister the subsidiaries for allegedly being created illegally by the Bureau of Public Enterprises.
