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 9 KEY WAYS TO WIN THE DEAL AND OUTSMART COMPETITION
November 30, 2020
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| Best Practices

 9 KEY WAYS TO WIN THE DEAL AND OUTSMART COMPETITION Have knowledge of the lessee’s needs which involves recognising that each customer is different from others. Gaining the comprehensive knowledge about customers’ needs and preference, sets the stage for outsmarting competition. Understand the benefits of leasing and how they apply to the lessee’s needs Tailoring the lease to meet customer’s needs by providing varied options to cater for the diverse needs Communicate all the benefits of leasing to potential/existing…

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HOW THE EQUIPMENT LEASING ACT PROTECTS YOUR BUSINESS
November 28, 2020
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| Industry Laws

  The Equipment Leasing Act 2015, is essentially aimed at promoting the business of leasing in Nigeria by among other things, creating clarity, certainty and sanity in the practice of leasing and ensuring protective mechanism, for both the lessor and lessee. The memorandum of the Act states that “This Act seeks to regulate the business of equipment leasing in Nigerian so that the relationship between the lessor and the lessee and other third parties is identified and protected”. The…

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COMMUNIQUE ISSUED AT THE 18TH NATIONAL LEASE CONFERENCE
November 26, 2020
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  COMMUNIQUE ISSUED AT THE 18TH NATIONAL LEASE CONFERENCE ORGANISED BY THE EQUIPMENT LEASING ASSOCIATION OF NIGERIA (ELAN), HELD VIRTUALLY ON THURSDAY, 19TH NOVEMBER, 2020 1.0       BACKGROUND The 18th National Lease Conference “ADAPTING TO THE NEW WORLD ORDER IN COVID 19 ECONOMY: THE LEASING INITIATIVE, organised by the Equipment Leasing Association of Nigeria (ELAN), was held virtually on Thursday, 19th November 2020. The event was essentially aimed at promoting the ideals of leasing in Nigeria and cross fertilisation…

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CONFIRMATION AND CORROBORATION IN LEASING
November 26, 2020
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| Lease Advice

A lessor did a transaction in which the lessee presented postdated cheques, bank statements, staff ID card, house address and pro-forma invoice, as part of the requirements for the lease. The lessor only realised that the information given by the lessee were false after the transaction went bad. This true story remains a reoccurring decimal in the industry facilitated by weak risk assessment. Risks analysis is essential to the business of leasing- involving a thorough analysis of both the…

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WELCOME ADDRESS AT THE 18TH ANNUAL NATIONAL LEASE CONFERENCE HELD ON THURSDAY, 19th NOVEMBER 2020.
November 23, 2020
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The Special Guests of Honour, Otunba Richard Adeniyi Adebayo, CON, Honourable Minister of Industry, Trade and Investment and Arc. Olamilekan Adegbite, Honourable Minister of Mines and Steel Development.   Esteemed Guest Speakers and Panellists Distinguished Special Guests Directors of ELAN Past Chairmen and other past Directors of ELAN Members of ELAN Gentlemen of the Press Ladies and Gentlemen,   It is a great pleasure to welcome you, on behalf of the Equipment Leasing Association of Nigeria (ELAN), to the…

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9 KEY SUCCESS FACTORS FOR LEASING BUSINESS
November 20, 2020
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| Lease Advice

–Competitive Advantage – this takes a number of forms e.g. size, funding sources speedy process. –Specialisation – creating a niche, focusing on specific product or market segment, transaction size, equipment type, industry or geographical area. –Customer service and flexibility – good relationship. Flexibility in product offering and responsiveness of the lessor. –Funding Ability – for long term sustainability and viability –Controlled back-office costs – a lower back office cost enhance profitability. –Highly-trained workforce – profitability will suffer with inadequate…

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ELAN ADVOCATES LEASING FOR RE-INFLATING THE ECONOMIY IN COVID-19
September 30, 2020
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                        As part of efforts to entrench the value proposition of leasing to national economy, Equipment Leasing Association of Nigeria (ELAN) is organising the 18th National Lease Conference. The conference is the biggest gathering of stakeholders in the leasing industry and a platform for brainstorming on issues pertinent to the development of leasing in Nigeria and the economy at large. The theme for this year’s conference is “Adapting…

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ELAN’S WORKING VISIT TO FEDERAL MINISTRY OF MINES AND STEEL DEVELOPMENT
September 23, 2020
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Arc. Olamilekan Adegbite, Hon. Minister for Mines and Steel Development (2nd from Right) flanked by Dr. Olutoyin Okeowo, Chairman ELAN and Hajia Fatima Shinkafi, Executive Director, Solid Minerals Development Fund (SMDF) with Andrew Emonuwa, Executive Secretary ELAN during a working visit to the Ministry of Mines and Steel Development in Abuja, on exploring opportunities for the Leasing industry in the sector.

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CHAIRMAN STATEMENT AT 25TH AGM
June 25, 2020
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Distinguished Members, I am pleased to welcome you to the 25th Annual General Meeting of our Association and present to you the Financial Statements and Reports for the year ended 31st December 2019. Macroeconomic Environment The global Gross Domestic Product (GDP) growth fell to 2.6% in 2019- its lowest rate since the financial crisis. This reflected the broad-based weakness observed during the first half of the year, including a further deceleration in investment amid rising trade tension between United…

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NIGERIAN LEASING INDUSTRY MAINTAINS GROWTH AT 13.5 PER CENT IN 2019
June 25, 2020
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For the tenth time in a row, the Nigerian Leasing Industry buoyed its growth and continued to remain a major contributor to national economic development, while demonstrating its innovation and flexibility in the face of economic turbulence. The leasing industry recorded a remarkable growth of 13.5 percent in 2019, with outstanding lease volume at N1.91trillion as against N1.68trillion in 2018. This growth can be attributed to:the relative stability in the macroeconomic environment, increasing demand for leasing services – necessitated…

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