AMCON Takes Over Bulk Pack Services Limited

Asset Management Company of Nigeria, AMCON has just taken over Bulk Pack Services Limited. The company is a beverage package manufacturer and supplier, an affiliate company of Dangote Industries.

In a statement by AMCON, the company said:

“Bulk Pack Services Limited, a beverage package manufacturer and supplier owned by Alhaji Sani Dangote, the younger brother of Alhaji Aliko Dangote, was taken over by Asset Management Corporation of Nigeria, AMCON, yesterday, as part of the corporation’s recovery efforts.”

“The Receiver, Mr. Urua Essien, confirmed that he took effective control of the company, following the failure of the company to repay their outstanding debt. The Receiver immediately sealed off the premises of the company located at Dangote Regional Office, Oluwole Ladipo Street, Off Oba Akran, Ikeja, Lagos.”

“Bulk Pack Services Limited, which is affiliated to Dangote Group specialises in the manufacturing and supply of packages for major beverage companies like Dansa Foods Limited.”

“Dangote Group is a multinational industrial conglomerate in West Africa and one of the largest in the African continent. In 2015, the group generated revenue in excess of $3billion. It is the leading diversified business conglomerate in Africa with interests across in range of sectors in Africa including cement, sugar, flour, salt, pasta, beverages and real estate.”

Sani Dangote, a blood brother of Aliko Dangote is the CEO of Bulk Pack Services Limited. In 2014, a  Federal High Court, in Lagos, ordered 20 commercial banks in Nigeria to dishonour all withdrawal cheques from Mr Sani Dangote.

The company as at then was owing the following bank- CITI, Diamond, Ecobank, Enterprise, Fidelity, Keystone, Mainstreet, Skye, Wema, Heritage, Sterling, Unity and Zenith Bank. Others are First Bank, First City Monument Bank, Guaranty Trust Bank, Stanbic IBTC, Standard Chartered Bank and United Bank for Africa.

Bulk Pack Services Limited has not made any official statement on the development.