The incorporation certificates of two subsidiaries of the Nigerian Postal Service (NIPOST), NIPOST Transport and Logistics Services Company Ltd and NIPOST Properties & Development Company Ltd have been invalidated due to irregular procurement practices, according to the Corporate Affairs Commision.
The affected companies were created through improper procurement methods, the CAC said on Monday.
“The general public is hereby informed that the Commission, sequel to its powers contained in Section 41 (7) of the Companies and Allied Matters Act No. 3 of 2020, revoked the Certificates of incorporation of the below-mentioned companies because the same was improperly procured.
“These companies are NIPOST Transport and Logistics Services Company Ltd RC 1673881 and NIPOST Properties & Development Company Ltd RC 1673971.
“By virtue of these revocations, the Companies are deemed to be dissolved and their assets and liabilities transferred to the Nigeria Postal Service under the Nigerian Postal Services Act Cap N127 LFN 2004,” the CAC notice read.
The CAC also claimed that there was no verifiable evidence that the companies have a physical presence.
It further said the move is sequel to a Senate order, in January, ordering the CAC to deregister the subsidiaries for allegedly being created illegally by the Bureau of Public Enterprises.
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