The Nigerian Leasing industry continued to demonstrate its remarkable contribution to economic development in 2020. Though affected hugely by the covid 19 pandemic that caused serious health and economic disruptions, the industry remained resilient – recording a marginal growth of 4.3 percent.
COMMUNIQUE ISSUED AT THE EXECUTIVE BUSINESS FORUM “2021 FEDERAL AND STATE GOVERNMENTS ECONOMIC AGENDA: IMPACT ANALYSIS AND OPPORTUNITY FOR LEASING” ORGANISED BY THE EQUIPMENT LEASING ASSOCIATION OF NIGERIA (ELAN) HELD VIRTUALLY ON THURSDAY, 11TH FEBRUARY, 2021. BACKGROUND In furtherance of its objectives of propagating the ideals of equipment leasing and to provide a platform for cross-pollination of ideas for the development of the leasing industry, the Equipment Leasing Association of Nigeria (ELAN) organised a virtual forum, intended to…
WELCOME ADDRESS BY DR. OLUTOYIN OKEOWO, CHAIRMAN, BOARD OF DIRECTORS, EQUIPMENT LEASING ASSOCIATION OF NIGERIA (ELAN), AT THE EXECUTIVE BUSINESS FORUM HELD VIRTUALLY ON THURSDAY, 11TH FEBRUARY, 2021. Esteemed Guest Speaker and Panelists Directors and Members of ELAN Gentlemen of the Press Ladies and Gentlemen, I am delighted to welcome you on behalf of the Equipment Leasing Association of Nigeria, to our first Business Forum of the year. I am particularly honoured to welcome our highly esteemed Guest…
West Africa Business News, Monday, January 11, 2021 National Business, Monday January 11 – 17, 2021 The Equipment Leasing Association of Nigeria (ELAN) states that a major financing tool that can bring the economy out of the woods is equipment leasing. This was disclosed in the 2021 outlook released by the Association titled – “2021: A year of Cautious Optimism”. According to ELAN, “rebuilding the economy requires enormous capital and the growing cost of assets, hinders the capital…
2021 is here. It is year of great expectation, where everything is expected to turn around for good. Suddenly, it has become the year for a magic which was initially expected for 2020, but which disappointed due, obviously, to the public health crises of COVID-19 that practically pressured all economies, including Nigeria’s. Globally, people have moved all the 2020 expectations to 2021 but economic watchers believe that we are far from “Eldorado” particularly with the re-emergence of the…
The Equipment Leasing Association of Nigeria(ELAN) is a Business membership Organisation (BMO) established in 1983, primarily to promote the business of leasing. Membership of the Association consist Banks, Finance Houses, Independent Leasing Companies, Vendors, Insurance Companies, Professional Firm and Individuals In furtherance of our objectives of spreading the essence of leasing in Nigeria, we are pleased to inform you of our “Career Development Programme in Leasing” for future leaders in the Nigerian Leasing Industry. The programme is designed…
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…
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…
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…
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…