{"id":28561,"date":"2024-04-23T11:37:07","date_gmt":"2024-04-23T11:37:07","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=28561"},"modified":"2024-04-23T11:37:07","modified_gmt":"2024-04-23T11:37:07","slug":"cac-revokes-registration-certificates-of-two-nipost-subsidiaries","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/04\/23\/cac-revokes-registration-certificates-of-two-nipost-subsidiaries\/","title":{"rendered":"CAC Revokes Registration Certificates of Two NIPOST Subsidiaries"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-hcicn-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-hcicn-1n7m0yu\">\n<div class=\"flex flex-col text-sm pb-9\">\n<div class=\"w-full text-token-text-primary\" dir=\"auto\" data-testid=\"conversation-turn-37\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 juice:gap-4 juice:md:gap-6 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem]\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"7b16ffe8-2867-466e-a4ea-7879217e3ef2\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>The Corporate Affairs Commission (CAC) announced the revocation of the certificates of incorporation of two subsidiary companies of the Nigeria Postal Service (NIPOST), citing improper procurement of the certificates. The affected companies are NIPOST Properties &amp; Development Company Limited and NIPOST Transport &amp; Logistics Company. As a result of the revocation, all assets of the companies will be transferred to the parent company, NIPOST.<\/p>\n<p>In a press release, CAC invoked its powers under Section 41 (7) of the Companies and Allied Matters Act No 3 of 2020 to revoke the certificates of incorporation. The companies are now deemed dissolved, and their assets and liabilities will be transferred to NIPOST.<\/p>\n<p>This action follows controversies surrounding the two NIPOST subsidiaries since their registration in 2020. Earlier reports suggested that the N10 billion allocated by the government to restructure NIPOST had allegedly gone missing. The Senate launched an investigation into the missing funds and uncovered illegal transfers to private individuals from the two subsidiaries.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Corporate Affairs Commission (CAC) announced the revocation of the certificates of incorporation of two subsidiary companies of the Nigeria Postal Service (NIPOST), citing improper procurement of the certificates. The affected companies are NIPOST Properties &amp; Development Company Limited and NIPOST Transport &amp; Logistics Company. As a result of the revocation, all assets of the [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":28562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-28561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/28561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=28561"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/28561\/revisions"}],"predecessor-version":[{"id":28583,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/28561\/revisions\/28583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/28562"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=28561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=28561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=28561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}