C&I Leasing: Growing Shareholders’ Value amid Seamless Transition

Nume Ekeghe

C&I Leasing Plc has re-assured its stakeholders that the company is well positioned to improve returns on their investments following a seamless transition from one leadership to another.

The Board and Management of C&I Leasing Plc gave the assurance in Lagos when the company hosted some of its key stakeholders – founders, board and management, clients, bankers, vendors, financiers, and advisers.

At the forum, the company highlighted the seamless transition from the Andrew Otike-Odibi then leadership to now Ugoji Lenin Ugoji-led management team. 

This being the third leadership transition in the Company’s history indicates the strong succession planning structures within the organization.

The company at the event introduced the new Chairman of the Board, Dr Samuel Onyishi, who is also the founder of Peace Mass Transit Group (PMTG).

He is said to have joined the organization with a view to leveraging on economies of scale opportunities and Industry insight to enhance C & I’s efficiency and market share.

At the event, the unity of purpose of the company in continuing the C & I Legacy was clearly showcased as members of the old and new boards/management actively participated in activities, including the Founder and Vice chairman, Mr. Emeka Ndu, the Previous Board Chairman Chief Henry Okolo and other past Directors like Mr Larry Adenmosu of Custodian & Allied Insurance Plc, who all graced the occasion. 

The founder and Vice chairman of C&I Leasing Plc- Emeka Ndu, noted that, “We must have an attitude of gratitude. We have evolved over the years and our ability to adapt and transition is what kept us till date.   Change is important and permanent, and it positions C&I Leasing Plc for the future. We are trying to reposition the business for the future that will be significantly strengthened to maximize value for stakeholders and investors. The new CEO and his team are capable of the tasks for the future. It is good to blend the old and new but the new is where we are going.”

Alexander Mbakogu, Group Chief Operating Officer and Deputy Group Managing Director, C&I Leasing Plc, told the stakeholders at the event that, “Why we are here this evening is simple – to allow our partners meet our new board and management and bid farewell to our erstwhile managing director, Andrew Otike – Odibi.”

In addition, the C&I FOounder’s award was instituted, and the 1st recipient was the immediate past Group Managing Director (GMD), Mr Andrew Otike-Odibi who was recognized same evening for his outstanding services to the company spanning about 23 years.

The C&I Leasing group of companies serves its clients through three major divisions; Fleet Management, Outsourcing, and Marine Services with two subsidiaries in Ghana (Leasafric) and the United Arab Emirates (EPIC International FZE).

C & I Leasing leveraged the event to review its market space and projected into the future, which is targeted at improving collaboration with other companies to manage risk while ensuring that the brand’s DNA of adaptability is maintained and strengthened so that they are ahead of the challenges. 

Key global factors being experienced by the Ukraine – Russian war were highlighted at the stakeholders’ event by Managing Director/CEO at Financial Derivatives Company Limited, Bismarck Rewane, with the possible impact on the Nigerian environment and the Leasing business.

Rewane’s opinion is that the Leasing business in Nigeria would remain resilient despite the challenges.

Group Managing Director/CEO, C&I Leasing Plc, Lenin Ugoji, who acknowledged the recent challenges noted that they also came with opportunities.

“For us, we are prepared to ensure we grow shareholders value despite changes in leadership. We are a strong family, stick to us, be flexible with us. There may be challenges but the point is that we are here to stay, “he added.

Chairman, Board of Directors of C&I Leasing Plc, Samuel Maduka Onyishi also assured stakeholders on the board and management’s cooperation in taking the business to higher heights, adding that, “from the records, C&I Leasing Plc does business with many stakeholders and we will need you the stakeholders in order to do more.”

He assured all at the event that with the current Board and Management, he wanted to assure them that “C&I Leasing Plc is in safe hands.”   

He stated further that, “C&I Leasing Plc that I know is focused and that there are opportunities in C&I Leasing Plc that if we pursue through our subsidiaries, we expect all stakeholders to be happy with the results in future.”

He confirmed that C&I Leasing Plc had an experienced management team and that the Company was doing well today and would continue to do, even better.

Speaking as a stakeholder, Group Managing Director/CEO of Cordros Capital Limited, Wale Agbeyangi, confirmed his Company’s association with C&I Leasing Plc for the past 10 years. He expressed his joy at having witnessed three generations of the company’s leadership and looked forward to doing more businesses with the company in the next 10, 20 and 30 years.”

Also speaking, another stakeholder, Chinyere Muda Sanusi of FCMB eulogized the Company as a Pacesetter, which others followed and confirmed that her Bank understood the business of the Company and was willing to support it in its next phase of growth.