History of ELAN

On June 29, 1983, six merchant banks listed below formed the Equipment Leasing Association of Nigeria (ELAN) to promote and protect the interest of members as equipment lessors. These merchant banks are:

  1. Continental Merchant Bank (Nigeria) Limited
  2. ICON Limited (Merchant Bankers)
  3. International Merchant Bank (Nigeria) Limited
  4. NAL Merchant Bank Limited
  5. Nigerian – American Merchant Bank Limited, and
  6. Nigeria Merchant Bank Limited,

Saw the need to establish a formal form to discuss ideas and current developments in the leasing industry as their leasing activities expanded.

Originally, ELAN was formed as an Incorporated Trustee, but in 1991, the members started a process of re-organisation that would ensure a virile Association in order to meet the challenges posed by the rapid growth of the industry. Part of this effort, was the election for the first time of a Board of Directors to formulate policies and steer the affairs of the Association. Also an Executive Secretary was appointed to head the Secretariat. The first Executive Secretary was Dr. Bankole Abiola. Three years later, ELAN was re-incorporated as a company Limited by Guarantee, the process of re-incorporation was concluded in 1994.

PAST PRESIDENTS / CHAIRMAN OF ELAN 

  1. Tony Osime  (President);  Assistant General Manager, Continental Merchant Bank               1983/84
  2. Fola Adeola; Managing Director, Guarantee Trust Bank                                                          1984/86
  3. Austine Ometoruwa; Nigerian – American Merchant Bank                                                       1986/88
  4. Chief Dele Oriabiyi; AGM, Continental Merchant Bank                                                            1988/89
  5. Olatunde Awelewa; Manager, Ivory Merchant Bank                                                           1989 -1990
  6. Ejiofor A. Ezekwem (Chairman);  AGM, First Interstate Merchant Bank                            1990 – 1991
  7. Akinsola Akinfemiwa; General Manager, Chartered Bank                                                  1991 – 1993
  8. R.Z.Abashiya; MD/CEO, Leasing Company of Nigeria Limited                                         1993 – 1995
  9. Emeka Ndu; MD/CEO, C&I Leasing Plc                                                                             1995 – 1998
  10. Olakunle Adebisi; MD/CEO Afribank Merchant Bankers                                                   1998 – 2001
  11. Mosunmola Olusoga, Executive Director, Guaranty Trust Bank Plc                                  2002 – 2006
  12. Collins David – Ikpe, C&I Leasing Plc                                                                                  2006 – 2010
  13. Mr Kehinde Lawanson, ED Corporate Banking Group, First Bank Nigeria Ltd                   2010 – 2014
  14. Mr Chuka Onwuchekwa, MD/CEO Aquila Leasing Limited                                                 2014 – 2-018
  15. Dr. Olutoyin Okeowo, MD/CEO Metropolitan Motors Limited                                              2018 – 2022
  16. Ehigiamusoe Elizabeth Ngozi (Mrs)                                                                                     2022 – Date

EXECUTIVE SECRETARIES

  1. Dr Bankole Abiola
  2. Miss Ladi Ndakotsu
  3. Mr eye Adetumbi
  4. Mr Andrew Emonuwa (current)

PRESENT BOARD: 

  1. Ehigiamusoe Ngozi Elizabeth (Mrs)           –      Chairman
  2. Mr Tunde Netufo                                        –       Vice-Chairman
  3. Mr Christian Chigbundu                             –       Member
  4. Mr Adegboyega Adegun                            –       Member
  5. Mr Ugoji Lenin Ugoji                                  –       Member
  6. Mr Nnamdi Nwankwo                                –       Member
  7. Mr Ikenna Okafor                                      –       Member
  8. Mr Taiye Emagha                                      –       Member
  9. Adenike Ibirogba                                       –       Member

 

 

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