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2021 OUTLOOK – A YEAR OF CAUTIOUS OPTIMISM

  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…

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CAREER DEVELOPMENT PROGRAMME IN LEASING : BE PART OF THIS OVER N15TRN INDUSTRY

  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…

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 9 KEY WAYS TO WIN THE DEAL AND OUTSMART COMPETITION

 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

  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

  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

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.

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

–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

                        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

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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