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10 BILLION NAIRA SCANDAL ROCKS NIPOST

Towards the end of 2023, a scandalous discovery of mis-management of public fund rocked the airwaves as the Senate uncovered the mis-appropriation of a 10 Billion naira restructuring fund released by the Ministry of Finance to Nigeria's flagship postal service, NIPOST to boost the services of the government agency and ordered a probe into the alleged infraction. The Senate gave the order via its resolution of December 30, 2023, noting that there was transfer of federal government shares in two NIPOST subsidiaries, NIPOST Properties and Development Company and the NIPOST Transport and Logistics Services Limited to private individuals, a move the Senate declared as “irregular and illegal” and ordered their immediate winding-up, de-registration and recovery of the entire sum of money involved. The Senate’s resolution reads:  “The sum of 10 Billion naira released by the Ministry of Finance for the proposed NIPOST restructuring and re-capitalisation be investigated and the funds fully