Greif Nigeria Plc (NGX: VANLEER) has formally announced the completion of its members’ voluntary winding-up process, marking the end of the company’s operations after over three years of liquidation procedures.
The announcement was issued by the Liquidator, Inam Wilson, SAN, in a report dated November 27, 2025.
According to the final liquidation report, the exercise began on January 31, 2022, and involved the full realisation of the company’s assets, which consisted primarily of cash balances totalling ₦542.67 million.
Wilson explained that all known creditors were notified through newspaper publications, and all verified liabilities—including taxes, trade payables, and liquidation expenses—were fully settled, amounting to ₦142.72 million.
After settling all obligations, the Liquidator confirmed that a total of ₦399.95 million was available for distribution to shareholders, translating to ₦9.00 per share.
The company has 42,640,000 outstanding shares of 50 kobo each, meaning all shareholders are entitled to receive the final payout proportionately.
According to the report, disbursement of the final distribution commenced on November 24, 2025, through All Crowns Registrars Limited, following unanimous approval of the final audited accounts at the company’s Final General Meeting held on November 10, 2025, at NECA House, Ikeja.
Before its dissolution process began, Greif Nigeria Plc last traded on the Nigerian Exchange Group (NGX) at ₦5.45 per share, significantly below the final liquidation payout of ₦9.00 per share—representing a notable premium for some shareholders. It’s five-year high was N9.10 per share.
The Liquidator also confirmed that all legal, financial, and regulatory obligations had been fulfilled, and that there were no outstanding liabilities or unresolved matters related to the company. The final meeting minutes and audited accounts have been filed with the Corporate Affairs Commission (CAC). Once approved, the CAC will issue a formal Notice of Dissolution, after which the company will be deemed dissolved three months later, in accordance with Section 631 of CAMA 2020.
The completion of the winding-up process officially brings Greif Nigeria Plc’s corporate existence to a close.
About Greif Nigeria Plc
GREIF Nigeria Plc (the “Company”) is a manufacturing company incorporated as a limited liability company under the Company Ordinance (CAP 38) with the name Metal Containers of West Africa Limited on 20 January 1940. The name was subsequently, by a special resolution on 4th October 1969, changed to Van Leer Containers (Nigeria) Limited. The Company became “Van Leer Containers (Nigeria) Plc” in line with the Companies and Allied Matters Act (CAP 20), Laws of the Federation of Nigeria 1990. (Now CAMA 2020)
The Company’s name was eventually changed to “Greif Nigeria Plc” by a special resolution on 12th May 2004. The authorized share capital was allotted to Greif International Holdings B.V. Netherlands (51%), The Van Leer Nigerian Educational Trust (23%) and other Nigerian investors (26%).
The Company is primarily involved in the manufacturing and marketing of steel drums.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
