Greif Nigeria Plc, a manufacturer of steel drums, plastic containers, and sheet metal products, has announced the date for its Final General Meeting ahead of the company’s total dissolution.
In a notice published on the Nigerian Exchange (NGX), the company said the meeting will be held on November 10, 2025, in Lagos, Nigeria.
This follows an update in July when Greif confirmed that it had cleared all tax obligations and other outstanding liabilities, a key requirement for the final stage of its delisting process.
The company added that its registrars, All Crown Registrars, have been notified and will send out notices of the meeting along with the liquidation accounts to shareholders.
According to the latest disclosure, the company’s final accounts will be presented to shareholders at the meeting, followed by any necessary clarifications.
Shareholders will then review and approve the liquidation accounts, which will be filed with the Corporate Affairs Commission (CAC) to complete the dissolution of Greif Nigeria Plc.
The process is in line with Section 631(2) of the Companies and Allied Matters Act (CAMA) 2020, Laws of the Federation of Nigeria.
About the Company
Greif Nigeria Plc, formerly known as Van Leer Containers (Nigeria) Plc, is a manufacturing firm specializing in the production and marketing of steel drums, plastic containers, and sheet metal products.
Beyond its core manufacturing business, the company also provides specialized industrial services such as steel punching and aluminum welding.
Headquartered in Apapa, Lagos, Greif Nigeria Plc operates as a subsidiary of Greif International Holding BV, a global leader in industrial packaging solutions.
Since its listing on the Nigerian Exchange, the company’s share price has declined steadily over the years, losing more than half of its market value.
Stock market performance before suspension
Greif Nigeria Plc’s share price followed a long, steady decline after its listing on the Nigerian Exchange, with 2021 emerging as its toughest year yet.
In that year alone, the stock plunged by 33.54%, largely due to the economic slowdown brought on by the COVID-19 pandemic.
Originally listed at N13.30 per share, the stock slipped below N10 by 2017 and continued to weaken, falling under N6 by 2021.
By 2022, when trading in the company’s shares was suspended to allow for a smooth winding-up process, the price had fallen to N5.45.
Reflecting on the company’s struggles in 2024, Chairman Adedayo Olowoniyi acknowledged the difficult operating environment, citing intense competition and a stagnant market for steel drums as major obstacles.
