• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities Stock Market

Winding up: Nigerian Exchange suspends trading in the shares of Greif Nigeria

Chris Ugwu by Chris Ugwu
June 27, 2022
in Stock Market
Winding up: Nigerian Exchange suspends trading in the shares of Greif Nigeria
Share on FacebookShare on TwitterShare on Linkedin

Nigerian Exchange Limited has suspended trading in the shares of Greif Nigeria Plc to ensure a smooth winding up process.

This following the approval of the shareholders of Greif Nigeria Plc at its Annual General Meeting which was held on 31 January 2022, authorizing the commencement of the process of voluntary winding up of the Company and in accordance with Section 622 of Companies and Allied Matters Act (CAMA) 2020.

Greif Nigeria has in 2019 announced its plans to delist from the Nigerian Exchange. The manufacturer of steel drums and plastic containers took the decision 11 months after it suspended its operation.

RelatedStories

Wema Bank, Custodian Investment exits NGX 30 index

Aradel, Wema Bank join NGX 30 index after semi-annual rebalancing 

July 2, 2025
NGX, IFC strengthen Nigeria’s sustainable finance drive with labelled bond workshop

NGX, IFC strengthen Nigeria’s sustainable finance drive with labelled bond workshop

June 23, 2025

Aside from delisting from the stock exchange, Greif Nigeria also plans to sell its assets in Nigeria for a price that will be determined by the company’s board.

What the NGX said

NGX in a statement said: “Further to the approval of the shareholders of Greif Nigeria Plc at its Annual General Meeting which held on 31 January 2022 authorizing the commencement of the process of voluntary winding up of the Company and in accordance with Section 622 of Companies and Allied Matters Act (CAMA) 2020 which states that a voluntary winding-up shall be deemed to commence at the time of the passing of the resolution for voluntary winding-up.”,

NGX Regulation Limited (NGX RegCo) wishes to notify all Trading License Holders and the investing public that it has suspended trading in the shares of Greif Nigeria Plc effective on Monday to ensure a smooth winding-up process.

This is in line with Section 624 of CAMA 2020 which provides that “A transfer of shares, not being a transfer made to or with the sanction of the liquidator, and any alteration in the status of the members of the company, made after the commencement of a voluntary winding-up, shall be void.”

What you must know

The Chairman of the company, Mr. Adedayo Olowoniyi, had said the company was performing below operating and material costs.

He said the company was working assiduously to prevail through the challenging business environment but still had issues in cost-recovery through several price increases in the market, despite adopting cost reduction measures and driving efficient methods.

Olowoniyi said, “As a result of increased competition and a stagnant market for steel drums, we do not see an improvement happening in the near future. Greif Nigeria has been operating well below operating costs, even below direct material costs, and sees no signs of improved market conditions”.

Tags: Greif Nigeria PlcNGXNigerian Exchange Limited
Chris Ugwu

Chris Ugwu

Chris is a Senior Financial Analyst at Nairametrics Advocates Limited with over a decade stint in active journalism and public relations practice.

Related Posts

Wema Bank, Custodian Investment exits NGX 30 index
Equities

Aradel, Wema Bank join NGX 30 index after semi-annual rebalancing 

July 2, 2025
NGX, IFC strengthen Nigeria’s sustainable finance drive with labelled bond workshop
Companies

NGX, IFC strengthen Nigeria’s sustainable finance drive with labelled bond workshop

June 23, 2025
TotalEnergies
Equities

Why Total Energies’ Q1 2025 profit crashed: What investors should watch  

June 11, 2025
NGX
Equities

NGX delivers Africa’s second-best return in May as investors pile in 

June 3, 2025
Winding up: Nigerian Exchange suspends trading in the shares of Greif Nigeria
Companies

Drum maker Greif Nigeria settles obligations, plans final company meeting ahead of dissolution 

June 3, 2025
How Much Money Do You Need To Start Investing?
Digital Media

Nairametrics Awards, Market Movers & Bank Recap Secrets — All on Follow the Money With Ugodre

May 28, 2025
Next Post
NJC recommends compulsory retirement of 2 judges over age fraud

Nigeria’s CJN Justice Tanko resigns

Comments 1

  1. Joy says:
    June 29, 2022 at 2:04 pm

    How do I buy shares.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • FG inaugurates National Credit Guarantee Company Board to boost MSME financing 
  • SEPLAT posts N13.5 billion in trades as All-Share Index eyes 121,000 level, mid-cap stocks shine 
  • Nigerian Ehis Akhimie convicted in US for $6 million fraud, faces up to 20 years in prison 

Follow us on social media:

Recent News

FG inaugurates National Credit Guarantee Company Board to boost MSME financing 

FG inaugurates National Credit Guarantee Company Board to boost MSME financing 

July 4, 2025
Seplat Energy

SEPLAT posts N13.5 billion in trades as All-Share Index eyes 121,000 level, mid-cap stocks shine 

July 4, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics