CAC revokes certificates of NIPOST subsidiaries The Corporate Affairs Commission, CAC , has revoked the certificates of incorporation of two subsidiaries of the Nigerian Postal Service, NIPOST, following discovery of illegal transfer of N10 billion. The affected entities are, NIPOST Properties and Development Company and NIPOST Transport and Logistics Services Limited. The CAC in a statement in Abuja, stated that the revocation followed the discovery of an illegal transfer of N10 billion in restructuring funds released by the Federal Ministry of Finance to the NIPOST subsidiaries. The CAC further explained that the revocation...