ELAN VISITS FINANCIAL REPORTING COUNCIL OF NIGERIA (FRCN)
ELAN visits Financial Reporting Council of Nigeria (FRCN) as part of efforts to promote corporate governance in the leasing industry.
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ELAN VISITS CONSOLIDATED HALLMARK INSURANCE PLC
ELIZABETH EHIGIAMUSOE (4TH FROM LEFT), VICE CHAIRMAN, EQUIPMENT LEASING ASSOCIATION OF NIGERIA (ELAN) AND EDDIE EFEKOHA, MANAGING DIRECTOR/CEO CONSOLIDATED HALLMARK INSURANCE PLC IN A GROUP PHOTOGRAPH WITH OTHER MEMBERS OF THE ELAN AND CHI PLC TEAM DURING THE VISIT. The Equipment Leasing Association of Nigeria (ELAN) paid a courtesy visit to Consolidated Hallmark Insurance Plc on the 22nd of August 2019. The visit is part of the Association’s strategic focus to foster closer relationship with members and other…
ELAN visits AELEX Legal Practitioners & Arbitrators
The Equipment Leasing Association of Nigeria (ELAN) paid a courtesy visit to AELEX Legal Practitioners & Arbitrators on the 8th of August 2019. The visit is part of the Association’s strategic focus to foster closer relationship with members and other stakeholders to enhance the value proposition of the Association to the leasing industry and Nigerian economy.
ELAN CHAIRMAN RECOMMENDS WAYS OF DEVELOPING THE AUTOMOTIVE INDUSTRY
“Few of the major challenges hindering the development of automotive industry in Nigeria remains poor financing, low level technological education, policy inconsistency and implementation and many others”. This was the assertion made by Olutoyin Okeowo, Chairman Board of Directors ELAN while delivering a paper on “Automotive Industry Development in Nigeria” at a Public Lecture organised by Automotive & Locomotive Engineers Institute (A Division of Nigeria Society of Engineers, Lagos Chapter) held recently in Lagos. In his recommendations, He stated…
CHAIRMAN STATEMENT AT 24TH ANNUAL GENERAL MEETING
Dear Members, I am very delighted to welcome you to the 24thAnnual General Meeting of our Association and to present to you the Financial Statements and Reports for the year ended 31stDecember 2018. Business Environment Generally, the Nigerian economy recorded improvements in the area of growth, price and exchange rate stability as well as fiscal stability. Macroeconomic conditions recorded modest improvement as real growth in GDP rose to 1.93% in 2018 from 0.82% in 2017. The exchange rate remained…
ELAN VISITS KEYSTONE BANK LIMITED
(5th from left): Abubakar Danlami Sule, Ag. Managing Director/CEO Keystone Bank Limited, (5th from right): Olutoyin Okeowo, Chairman Board of Directors, ELAN , at the courtesy visit to Keystone Bank Limited held on the 7th June 2019. The visit is part of the Association’s strategic focus to foster closer relationship with members and other stakeholders to enhance the value proposition of the Association to the leasing industry and Nigerian economy.
LEASE VOLUME HITS N1.68TRN IN 2018
LEASE VOLUME HITS N1.68TRN IN 2018 The Nigerian leasing industry maintained its impressive growth at 16.3 percent in 2018. Outstanding lease volume stood at N1.68trillion as against N1.44trillion in 2017. This growth was significantly facilitated by new entrants into the leasing industry, increased awareness on the ideals of leasing as a unique financing instrument, the relative stability in the macroeconomic environment, increasing demand necessitated by the rising cost of assets due to the depreciation of the Naira. Click here…
CHAIRMAN SPEECH AT FLEET MANAGEMENT CONFERENCE
Directors of ELAN Distinguished Guest Speakers Distinguished Participants Gentlemen of the Press Ladies and Gentlemen I am very delighted to welcome you on behalf of the Equipment Leasing Association of Nigeria (ELAN), to the 5th Transport Logistics & Fleet Management Conference with the theme “THE ROLE OF FLEET MANAGEMENT IN ENHANCING CORPORATE OBJECTIVES”. I most heartily welcome our Distinguished Guest Speakers as well as all other Dignitaries. We are deeply honoured and sincerely valued your presence…
ELAN Visits Toyota Nigeria Limited
The Equipment Leasing Association of Nigeria (ELAN) recently paid a courtesy visit to Toyota Nigeria Limited on the 15th of March 2019. The visit is part of the Association’s strategic focus to foster closer relationship with members and other stakeholders to enhance the value proposition of the Association to the leasing industry and Nigerian economy.
IFRS 9 Financial Instruments
The International Financial Reporting Standards (IFRS) 9 on Financial Instruments came into effect on 1st January 2018. The standard includes requirements for recognition and measurement, impairment, derecognition and general hedge accounting. IFRS 9 establishes a new approach for loans and receivables, including trade receivables – an “expected loss” model that focuses on the risk that a loan will default rather than whether a loss has been incurred. Entities will have to start providing for possible future credit losses in the very…
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