Greif Nigeria Nears Final Stage Of Voluntary Liquidation
Greif Nigeria Plc, one of Nigeria’s longstanding industrial companies, is in the final stages of its members’ voluntary winding-up process, according to a formal update issued by the appointed liquidator, Mr. Inam Wilson.
According to a notice to the Nigerian Exchange Limited, the company, which initiated the voluntary liquidation following shareholder approval, has now entered the third and concluding phase of the process.
Wilson confirmed that Greif Nigeria Plc has fully settled its outstanding tax obligations and liabilities and is finalizing its liquidation accounts in compliance with statutory requirements.
“The Company has commenced the third and final stage of its liquidation, has settled its tax and other outstanding liabilities, and is concluding the preparation of its final account,” Wilson stated in the announcement.
Greif Nigeria Plc has engaged All Crown Registrars, its official share registration service provider, to begin dispatching formal notices to all registered shareholders. These notices will include invitations to attend the Company’s Final General Meeting, along with a copy of the liquidation account.
At the final shareholders’ meeting, the liquidation account—detailing the financial summary of the company’s wind-down—will be presented for formal approval. Once ratified by the shareholders, the final documents will be filed with the Corporate Affairs Commission (CAC) to complete the legal dissolution of the company.
The voluntary liquidation process, as opposed to a compulsory one, indicates that the company has remained solvent and has chosen to cease operations in an orderly manner, typically for strategic business reasons. The conclusion of this process will mark the end of Greif Nigeria Plc’s corporate existence after decades of operation within Nigeria’s manufacturing and packaging sector.
While no specific reason for the decision to liquidate has been provided in this latest communication, industry analysts have previously speculated that the move may reflect a strategic shift in the parent company’s global portfolio or evolving market dynamics within the Nigerian industrial sector.
Stakeholders, including shareholders, regulators, and the investing public, are expected to receive further updates following the conclusion of the final meeting and the filing of dissolution documents with the CAC.
Greif Nigeria Nears Final Stage Of Voluntary Liquidation is first published on The Whistler Newspaper
