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Press Releases
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C & I Leasing Grows Profit By 251%
C & I Leasing Plc has posted a profit before tax of N376.7
million for the third quarter of its financial year ended
October 31, 2007. This represents a growth of 251 percent
over the N 107.3 million recorded within the same period in
2006. Profit after tax during the review period stood at
N298.7 million as against N85 Million during the
corresponding period in 2006. This indicates a rise of 248
percent. Similarly, income earning assets increased to N4.1
billion from N2.1 billion in 2006.
The third quarter result is however, a consolidated account
of the company and Leaseafric Ghana Limited, its subsidiary
in Ghana. C & I Leasing invested $1.85 million in leasafric
to acquire 59 percent stake in the Ghanaian firm.
Speaking at the briefing in Lagos yesterday, Managing
Director/ Chief Executive Officer of the company, Mr. Emeka
Ndu, said its operation in Nigeria, excluding the
contribution of Leaseafric, yielding a profit before tax of
N 314.7 million as against N107.3 million in 2006.
Ndu said the company’s gross earnings rose from N1.1 billion
in 2006 to N1.9 billion during the review period, showing a
growth of 71 percent.
He attributed the improved performance of the company to the
additional income from improved utilization of operating
assets, new contracts for its logistics unit and earnings
from the operation of Leaseafric.
On the company’s business strategy to continue to maintain
its leadership position in the leasing sub-sector, Ndu said
the company has commenced the diversification of its revenue
streams and sources of income which would ensure that it is
not affected by the vagaries in the international oil market
where it is a big player.
Specifically, he said the company was exploring the
telecommunications and manufacturing sub-sectors in order to
reduce its dependence on the oil and gas sub- sector. He
added that the objective was to dilute the proportion of the
company’s business in the oil industry.
Besides, he said the company has floated another subsidiary,
C & I Motors, which will be a major player in the sale and
distribution of Suzuki brand of vehicles. He said the new
company would contribute significantly to the revenue profit
of the company.
Ndu said the company has a lot of unutilized financing lease
lines, which it would use to grow its business as well as
increase its lease volume. In addition, he said the company
was exploring the possibility of securitizing its lease and
partnership with banks in growing its business.
The company is also going to invest in an oil field on joint
venture basis, which will raise its revenue in 2008. The
company is currently restructuring its business process and
procedures to achieve greater efficiency in its operation.
Source ThisDay
Time 30/11/07
16th Annual General Meeting of members of C &
I Leasing Plc.
Notice is hereby given that the 16th Annual General
Meeting of member of the company will hold at DIKE HALL, No
1 Kofo Abayomi Street, Victoria Island, Lagos on Thursday
9th day of August, 2007, at 11.30am prompt.
Ordinary Business
To receive the report of the Directors,
Financial Statement together with the Auditors' report for
the year ended 31st January, 2007
To receive the report of the Audit Committee
To declare a dividend
To re-elect retiring directors
To approve the remuneration of the directors
To authorize the directors to fix the remuneration of the
auditors
To elect members of the Audit Committee for the ensuring
year accordingly.
Special Business
To consider if thought fit to pass the following
resolution which will be proposed as a special Resolution:
That the number of Directors
of the company be increased to ten
That article 76 of the Articles of
Association of the company be altered by deleting the said
Article and replacing with the following;
"Unless otherwise
determined by a General Meeting, the number of Directors
shall not be less than three or more than ten"
That the article of
Association be renumbered accordingly.
Notes
PROXIES:
A member of the company entitled to attend and vote
at the General Meeting is entitled to appoint a proxy to
attend and vote instead of himself or herself. A proxy need
not be a member of the company. Executed
proxy forms should be deposited with the company secretary
at the Registered office of the company not later than 48
hours before the meeting.
Suzuki partners C&I Motors
C& I Motors has secured the partnership of Suzuki Motors
Corporation of Japan, the world renowned auto manufacturers
as it representative in Nigeria.
According to Mr. Godfrey Ugwuegbu, managing director of the
company, the representative of Suzuki Motors are already in
the country and would be signing the dealership agreement
with the management of C&I Motors today after over a year of
discussions.
He noted that the company has commenced the development of
an ultra-modern 3-S (Sales, Services and Spare) Located in
Ilupeju in the expectation of the appointment as this is a
reflection of the company’s commitment to providing
excellent after sales services for full Suzuki product range
in Nigeria.
In addition to the Ilupeju outlet, Ugwuegbu said efforts are
already in place to establish additional 3-S locations in
the Lagos area.
C&I Motors is a subsidiary of C&I Leasing Plc, which is the
only leasing company quoted on the Nigerian Stock Exchange
(NSE).
Source Financial Standard
Date Thursday, October 11, 2007.
Firm boosts Suzuki dealership with N300 Million
In order to expand its business activities, C & I Motors, a
subsidiary of C & I Leasing Plc has invested over N300
Million in its plans to become distributor of Suzuki brand
of cars in Nigeria.
Speaking at the partnership agreement signing ceremony
between the company and Suzuki Corporation, Japan held in
Lagos recently, the Managing Director, C & I Leasing Plc,
Mr. Emeka Ndu explained that more money would be committed
to the project before its completion. He explained that the
company opted for Suzuki brand due to its reliability
coupled with superior Japanese technology.
According to him, with the emergence of modern technology,
there was a need for the company to move with the trend in
terms of supplying good quality products that had low
maintenance cost in order to meet the demand of the
people.We are the largest leasing company in Nigeria and
have our experience in leasing various brand of vehicles and
from experience gathered, we choose Suzuki, because it is a
brand known worldwide for its reliability of product,
backed by superior Japanese technology”. He added that the
supply for the cars would be made from all Suzuki plants
across the world. Speaking on the expected period for the
distribution, Ndu said that it would kick-off early next
year to enable the company to put world class service
facilities in place for efficient distribution of the
product in Nigeria.
“We are committed to maintaining Suzuki global standard and
what that means is that we will not open until we have
adequate workshop, facilities, spare parts, well trained
manpower to service these cars. So our interest is selling
an experience of owning a Suzuki service”. On how suitable
is the brand to Nigerian climatic condition, Ndu assured
that the vehicles were tropicalised, in terms of road
condition and fuel specification to meet the expectation of
the people.
The C & I boss maintained that Suzuki Corporation had taken
into consideration the various brands the company produced
before taking appropriate decision on the brand to
distribute in Nigeria.
He reiterated the company’s commitment towards ensuring that
these cars and the spare parts were available in Nigeria
market for easy accessibility and maintenance.
Also speaking, the managing Director of C & I Motors
Limited, Mr. Godfrey Ugwuegbu said that Suzuki was known for
their utility vehicles and other medium range cars adding
that the cars were affordable to cater for the need of
average Nigerian. Ugwuegbu attributed the chaotic traffic
situation and other problems on the road to indiscriminate
breakdown of vehicles on the road.
He maintained that most of the vehicle imported from
different parts of the world did not serve the mobility need
of the buyers. He described Suzuki as an affordable brand
with good quality and easy to maintain. He assured that the
importation of Suzuki vehicles with the backup services
would afford Nigerians the opportunity to experience a
hitch-free drive.
A representative of the middle East Africa Marketing Group,
Suzuki Motor Corporation, Mr. Daishi Mochi Zuki Attributed
the major reason for appointing C & I Motors as the
company’s distributor to what he described as their adequate
attention to after sale service and spare parts management.
He said that C & I Motors met the company’s standard in
terms of after sale services.
Source The Guardian
Date 19/10/07
Distributorship
C & I Motors, a renowned auto dealer and subsidiary of C & I
Leasing Plc has signed a distributorship agreement with
Suzuki Corporation of Japan.
According to this agreement C& I Motors has become the
distributor of Suzuki cars in Nigeria and C & I is the only
leasing company quoted on the Nigeria stock exchange list.
The representative of the auto manufacturers were Mr. Emeka
Ndu, the Managing Director of C& I Leasing Plc signed on
behalf of C & I Motors. Speaking after the signing, the
managing director of C & I Motors Ltd Mr. Godfrey Ugwuebu
said the discussions had been going on for over a year. He
expressed his gratitude, that the distributorship has been
signed.
Source ThisDay
Date 21/10/07
C & I enters deal with Suzuki
C & I Motors, a subsidiary of C & I Leasing Plc has signed a
distributorship agreement with Suzuki Corporation of Japan.
Addressing journalists in Lagos, Managing Director of C &I
Motors, Mr. Godfrey Ugwuegbu said his company decided to go
for Suzuki products because of its durability and easy
maintenance. His words, “Suzuki products are extremely well
built with low cost maintenance”.
He said the products will be affordable to an average
Nigerian when they finally arrive while spare parts will be
produced in large quantities with adequate man power. We are
producing the spare parts in large quantity with enduring
brand and enduring technological features, we are committed
to maintaining Suzuki global stand and we shall get adequate
man power, spare parts before we open, we shall give our
customers the assurance that any car
they buy would be maintained without stress” he said.
However he said distribution will not start until adequate
spare parts are available in the country as his company has
commenced development of an ultra modern sales service and
spare parts location in Ilupeju while efforts are on to
establish another one in the Lagos area.
Responding, representative of Suzuki Company in Japan, Mr.
Daishi Mochizuia said the products are fully tropicalised
and built to serve Nigerian roads. “It took us a while to
arrive where we are; we have really taken our time to
consider Nigerian roads, the atmosphere as well as fuel
capacity before bringing our products to Nigeria.
There is going to be a free hitch drive through these cars.
“They are not too expensive or difficult to maintain” he
said.
Also contributing, Mr. Emeka Ndu, Managing director of C & I
Leasing said his company is committed to the long term
partnering with Suzuki products. He said the decision did
not come overnight as he believes Suzuki cars are coming to
Nigerian markets when there is high demand for new cars.
“These are quality cars that are cost friendly for the
benefit of an average Nigerian” he said.
SOURCE VANGUARD
DATE 23/10/07
C & I Motors Suzuki Distributor
C & I Motors, a subsidiary of C & I Leasing Plc has signed a
distributorship agreement with Suzuki Corporation of Japan.
With this agreement C & I Motors has become the distributor
of Suzuki cars in Nigeria.
On the Suzuki team were Mr. Daishi Mochizuki from Motors
Corporation, Japan and Mr. Rajeev Agarwal from Maruti Suzuki
India Ltd. Mr. Emeka Ndu the Managing Director of C & I
Motors. Speaking after the signing, the Managing Director of
C& I Ltd, Mr. Godfrey Ugwuegbu, said the discussions had
been going on for over a year. He expressed
joy and gratitude to God that the distributorship agreement
has been signed.
Mr. Ugwuegbu stated that following from this appointment,
his company has commenced the development of an ultra-modern
3- S (Sales, Service and Spares) location in Ilupeju. This
is a reflection of the commitment of C & I Motors to
providing excellent after-sales services for the full Suzuki
product range in Nigeria. In addition to the Ilupeju outlet,
efforts are already in place to establish additional 3-S
locations in the Lagos area. It is expected that the
Showroom and official launch of the Suzuki Products will
take place early next year.
Source Mirror
Date 27/10/07
A. C & I LEASING BAGS AWARDS IN 2007
(22/01/08)
C & I Leasing PLC a multi faceted company and the only
leasing company
listed on the Nigerian Stock Exchange stood out for its
excellent and
reliable services to its clients in the year 2007. The
company which
places high premium on customer satisfaction and quality
service not
only witnessed the certification of its Quality Management
Systems ISO
9001;2000 by the Standard Organization of Nigeria in August
2007, but
also bagged the West Africa's Leasing Company of the year
award 2007 by
the Institute of Direct Marketing of Nigeria.
As its reward for quality service in the Marine Sector, the
last quarter
of the year 2007 saw C&I Leasing PLC gaining recognition for
its quality
service in Shipping by the publishers of Maritime Nigeria
when the
company was awarded Quality in Shipping Service Award 2007.
With the repositioning of C & I Leasing plc this year in
terms of
manpower and technology, the company is poised for greater
feats.
B. C & I MOTORS, SET TO HOLD SUZUKI RENDEVOUS IN LAGOS
Plans are in top gear to organize an interactive session
with existing
users of the Suzuki brand of cars in Lagos. Speaking, the
Managing
Director C & I Motors, Sole distributors of Suzuki motors in
Nigeria, Mr
Godfrey Ugwuegbu says the forum will not only showcase
Suzuki as a
super brand of Japanese auto technology, but will also
showcase its well
equipped workshop set up to service every Suzuki auto
machine that
requires its professional expertise. According to Mr.
Ugwuegbu all
users of Suzuki brand are requested to bring their Suzuki to
meet with
its siblings and be exposed to C&I Motors professional
Service experts.
The Suzuki Rendezvous is slated for Thursday 24th January at
the Lagoon
Restaurant Victoria Island, Lagos at 11 am.
C & I PETROTECH OUTLOOK FOR 2008
C&I Petrotech, an upstream support joint venture service
with Petrotech,
Port Harcourt, is set to make its remarkable contributions
to the growth
of the marine sub-sector of the country's economy. In a chat
with the
Port Captain of C & I Petrotech, Captain Ani Joseph, he said
its aims
is to become a world class force to be reckoned with in the
industry, by
taking over all the terminals and ports with well packaged
services
driven by satisfaction and safety at all times for the
mutual benefit of
clients and the unit.
The Port Captain explained that all necessary facilities
needed for the
smooth operation of this unit has been put in place. The
facilities he
said are mostly vessels and other heavy duty equipment like
cranes and
forklifts which include supply vessels for oil Rigs,
platforms, work
barges and ports etc, Tug boats for personnel transfer,
Barges for
platform construction, laying of oil pipelines and offshore
operations,
fire fighting vessels, offshore cranes etc.
Capt Ani believes that with these facilities on ground, C &
I Petrotech
is poised to render quality service in the oilfield support
operations
of the economy.
C & I enters deal with Suzuki C
& I Motors
C & I enters deal with Suzuki
C & I Motors, a subsidiary of C & I Leasing Plc has signed a distributorship agreement with Suzuki Corporation of Japan.
Addressing journalists in Lagos, Managing Director of C &I Motors, Mr. Godfrey Ugwuegbu said his company decided to go for Suzuki products because of its durability and easy maintenance. His words, “Suzuki products are extremely well built with low cost maintenance”.
He said the products will be affordable to an average Nigerian when they finally arrive while spare parts will be produced in large quantities with adequate man power.
“We are producing the spare parts in large quantity with enduring brand and enduring technological features, we are committed to maintaining Suzuki global standard and we shall get adequate man power, spare parts before we open, we shall give our customers the assurance that any car they buy would be maintained without stress” he said.
However he said distribution will not start until adequate spare parts are available in the country as his company has commenced development of an ultra modern sales, service and spare parts location in Ilupeju while efforts are on to establish another one in the Lagos area.
Responding, representative of Suzuki Company in Japan, Mr. Daishi Mochizuia said the products are fully tropicalised and built to serve Nigerian roads. “It took us a while to arrive where we are; we have really taken our time to consider Nigerian roads, the atmosphere as well as fuel capacity before bringing our products to Nigeria.
There is going to be a hitch free drive through these cars. “They are not too expensive or difficult to maintain” he said.
Also contributing, Mr. Emeka Ndu, Managing director of C & I Leasing said his company is committed to the long term partnering with Suzuki products.
He said the decision did not come overnight as he believes Suzuki cars are coming to Nigerian markets when there is high demand for new cars.
“These are quality cars that are cost friendly for the benefit of an average Nigerian” he said.
SOURCE VANGUARD: 23/10/07
AUREOS CAPITAL TO INVEST US$4
MILLION IN C&I LEASING
Aureos West Africa Fund LLC (AWAF) today announced that it
plans to invest US$4 million in C&I Leasing plc, a Nigerian
leasing Company that is listed on the Nigerian Stock
Exchange. US$2million (N255 million) will be invested in C&I
Leasing’s ongoing public offer of 1.4 billion shares at
N1.15 per share, thereby acquiring over 221 million shares
or at least 11% of the post-offer C&I Leasing. The remaining
US$2m will be invested in a 5-year convertible unsecured
debt instrument.
AWAF is a US$50m Fund, incorporated in Mauritius and seek to
invest in and forge partnership with successful small and
medium-sized enterprises. Geographically, AWAF focuses on
the ECOWAS region with primary focus on Nigeria, Ghana and
Senegal. The Fund is managed by Aureos West Africa Managers
Ltd, part of Aureos Capital Limited with over US$514 million
under management. AWAF has a management team with a proud
track record and experience in private equity, investment
banking and managing companies for growth. In addition,
Jacob Kholi, the Managing Partner was involved in the
management of one of the first private equity funds in West
Africa.
AWAF’s investors include major names in global development
finance and private equity, alongside successful local
financial institutions. The current investors in the Fund
are Norwegian Investment Fund for Developing Countries (Norfund),
CDC Group Plc (CDC), Canadian Investment Fund For Africa LP
(CIFA), Nordic Development Fund (NDF); European Investment
Bank (EIB), Standard Chartered Bank Nigeria Limited and
Ecobank Nigeria Plc.
C&I Leasing offers both operating and finance leases to
companies, on various classes of assets such as Cars,
Cranes, Barges, Tugboats, Houseboats, Plant and Machinery
etc. C&I Leasing provides car rental through its Hertz
Rent-a-car franchise. Key clients include Nigerian
subsidiaries of major multinational companies. In addition
to providing equipment on rental, the Company offers
logistic support services for companies, especially in
transportation management and procurement for vehicles,
drivers, maintenance, insurance etc. C&I Leasing is
currently the only equipment leasing and logistics company
listed on the Nigerian Stock Exchange.
PRESS RELEASE
Lagos, Nigeria: February 27, 2006
Cadbury Nigeria plc, a subsidiary of Cadbury Schweppes UK,
has signed a four year transportation services contract with
C&I Leasing. Under the contract, C&I Leasing is to provide
comprehensive fleet solutions to support Cadbury’s
operations across the country.
The contract, which has a value of N1.7 billion over four
years, involves the provision of three hundred and one
(#301) vehicle units ranging from Minivans and pickups for
product distribution to official vehicles for staff at
various Cadbury locations across Nigeria.
The Cadbury contract represents an important milestone for
C&I Leasing as it marks a significant diversification /
expansion of our fleet management service to a major
manufacturing company, away from our traditional focus on
the oil & gas industry. This diversification is the result
of concerted efforts to reduce our exposure to the volatile
oil industry.
We remain very optimistic about our ability to expand our
fleet support services drawing on the strengths of our
existing car leasing business and our Hertz Car Rental Unit.
C&I Leasing targets N2.4bn revenue growth:
C& I Leasing plc projected a consolidated revenue growth of
2.4 billion in 2007/2008 fiscal year. The Managing Director
Emeka Ndu, who disclosed this last week at the first quarter
investors’ forum in Lagos, also said that the company is
diversifying in Ghana with the aim of becoming the leading
leasing company in the West African sub-region.
“We are restructuring our business along product lines
towards marking each SBU a stand alone entity. We are also
rolling out plans for new markets in the succeeding quarter
as we target new markets. We are upgrading our Information
Technology (IT) infrastructure facility to bring it in line
with best practice so that our services can be accessible to
our clients on web base”, he said.
Also speaking at the occasion, Andrew Otike-Odibi, General
Manager, Business Development, said the company has applied
for the necessary regulatory approval to enable the company
restructure its finance business as a stand alone business.
He said the company projects a balance sheet-growth in total
assets from planned investments which include 51 percent
stake in a leasing company in Ghana, profit of about
$380,000 for the year under review, and dealership business
for a Japanese motor company.
“We also plan investment in a gas distribution company and
investment in an oil field on joint venture basis” he added.
Otike-Odibi stated that the company’s first quarter result
showed that the turnover increased by 44 percent due to
additional income from operating assets acquired with the
proceeds of the last public offer.
“We purchased additional three vessels and 33 cars to
complement existing fleet, so as to handle new contract for
our logistics unit. Direct cost ratio reduced from 77
percent in previous year to 60 percent due to various cost
reduction and cost control measures. Our return on total
assets increased by 50 percent from 1.26 percent in prior
period to 1.89 in the current year. Our cost margin
percentage increased by 32 percent from prior year ratio of
30 percent to 40 percent while net margin went up by 51
percent’’, he added.
He assured that the company will continue to expand consumer
lease business with a view to taking advantage of the
emergence of the middle class in the economy. “We plan to
grow our outsourcing business, especially with corporate
organizations and multinationals who have decided to
outsource non-key staff in their organizations”.
“We will continue to invest in heavy equipment, bearing in
mind the need to diversify our portfolio to non-oil and gas
areas and continue to use our experience in fleet management
as a selling point in managing the fleet on our numerous
clients.
Source: Businessday
Date:04/06/07
C&I Leasing Reports N2bn Turnover:
C&I Leasing Plc, the only Nigerian leasing company quoted on
the stock Exchange (NSE) has ended the year 2006/2007 on
impressive note. Going by the report submitted to its
shareholder at the 16th yearly general meeting of the
company, both the gross profit and profit after tax
increased by 41 percent and 43 percent respectively.
In appreciation of the increase in the fortune of the
company, the board of directors declared five kobo as
interim dividend and 10k as final dividend for every
ordinary share held by the shareholder. Air Vice Marshal
Abdul Bello (rtd), the chairman of the company said in his
report that the 2006/2007 financial year had been a pivot
year in the growth and development of the company as
progress was made in the restructuring of the operations of
the company to meet the requirements of the Nigerian
business environment. According to him, Nigeria’s
macro-economic indices experienced remarkable stability
which brought about notable growth in 2006.
During the year under review, the company’s turnover
increased from N1.3 billon in 2006 to N1.6 billion in 2007,
representing 23.08 percent. In his own words ‘The indices
benefit immensely from the reduction of debt overhang
especially the complete exit from the Paris Club debt,
favorable crude oil prices that stayed consistently above the
budget estimate, prudent management of the economy, rising
value of the major currencies and the improved inflow of
Foreign Direct Investments (FDIs)
Bello said the N1.15 Billion raised in the capital market in
the previous year has been deployed to strengthen the
company’s operations. On the future of the company, he said
with a new government taking over and the anticipated
consistency in economic reforms.
He disclosed that the company has entered into agreement to
purchase a majority stake in a Ghanaian company. Other
Highlights of this year’s AGM was the re-election of some
members into the board and long service awards presented to
some staff who have been with the company for ten years and
above. The chairman AVM Bello also used the opportunity to
announce to the shareholders the permission granted the
company to increase its board of directors from 7 to 10.
C&I Leasing a finance company was licensed by the Central
Bank of Nigeria after it was incorporated in December, 1990
to provide leasing and ancillary services to companies,
especially in the oil, gas and telecoms sector.
Source: Financial Standard
Date: 13/08/07
C&I LEASING PLC POSTS =N=142 MILLION PROFIT:
C & I Leasing Plc. has posted profit after tax of N142
million for the financial year ended January 31, 2007. This
marks an improvement by 43 percent from N99 million recorded
the preceding year. Its gross profit hits N524 million
during the year under review representing a 41 percent
increase from the 371 million recorded in previous year.
The Chairman of the company, AVM Bello (rtd), described the
result as impressive, stating that the company would
continue to look for and take advantage of profitable
opportunities, which falls within the business strategy
within and outside Nigeria to be able to perform better in
subsequent years.
Speaking at the 16th yearly general meeting, which was held
in Lagos last week, he said that the rise in turnover was as
a result of increasing revenue from logistics and car rental
services. Based on that, he said that during the year under
review, the company posted a turnover of N1.613 million, up
from N1.345 million the previous year. According to him, the
company made capital investment additional equity of N1.15
billion, which is being deployed to strengthen the company’s
operations.
He said that, “in line with our performance during the year,
the board of directors recommended a final dividend pay out
of five kobo per share. This together with the interim
dividend of five kobo earlier paid brings the total dividend
for the year to 10 kobo for every ordinary share”, he said.
Source: The Guardian
Date:15/08/07
BIDDYOSA & C&I LEASING PLC COMMENCE LEASING OF CARGO
BASKETS:
Biddyosa Nigeria Limited in collaboration with C&I Leasing
plc have recorded another feat in the Nigerian leasing
industry. Both Companies have just set up a joint venture to
lease mini containers popularly known as Cargo Baskets to be
used in the oil industry. These containers which are
assembled at a facility that the Joint Venture has set up at
the Oil and Gas Free Zone at Onne, in furtherance of the
present efforts of the Federal Government to enhance local
content in the Nigerian Oil & gas industry. The initial
containers have been be leased to Esso Nigeria Limited.
Efforts are on to sign on additional customers.
Mini containers are used by oil companies to store and
transport drilling tools, pipes and materials in line with
modern safety standards in the offshore oil industry. This
service which was previously being carried out by foreign
companies is now to be provided C & I Leasing and Biddyosa
therefore making the JV the first Nigerian group to provide
this service to the oil industry.
Mr. Noel Uduebor, the Managing Director of Biddyosa stated
that the company entered into this venture in line with the
Federal Government’s call to enhance local content in the
oil & gas industry. During the next phase of the project,
most of the containers will be fabricated in Nigeria, to
exacting international standards.
The General Manager, Business Development of C&I Leasing,
Mr. Andrew Otike-Odibi says that the business expansion
being recorded is in line with its business strategy of
providing value-added leasing services to clients in all
sectors of the economy. The company is set to take advantage
of business opportunities and deliver value to its esteemed
investors, customers and staff.
C&I Leasing bags ISO Award:
C&I Leasing Plc has bagged NIS ISO 9001:2000 award, to join
the league of companies with International Standard
Organization certification.
ISO Certificate is conferred on deserving companies in
Nigeria by Standards Organization of Nigeria (SON). Speaking
at the certificate presentation ceremony, John Akanya,
director general, SON who was represented by Oluremi Ayeni,
Head, International and Cooperation QMS & EMS Certificate,
said quality and continuous improvement had become important
and the concept of quality had gone beyond the physical,
chemical and mechanical properties of product to include
management of interaction between processes.
He said that the current model of the QMS standard- NIS ISO
9001:2000 will ultimately assist the organization to
maintain consistency in the quality of products and services
and demonstrate that its operations were under control to
assessors, customer’s representatives and other
stakeholders.
Akanya charged C&I Leasing on continuous improvement in its
services as the journey of excellences does not have an end,
adding that the system, having been certified, would be
placed on six-month surveillance audit to ensure continuing
suitability and effectiveness of the implementation of the
quality system. “It is my expectation that the certificate
would not have to be recalled”, he stated.
However, SON pledged to continue partnering with the company
in this journey of commitment to provide quality services to
its clients in the overall interest and benefits of the
nation.
On this note, he called on companies that are yet to be
certified to take the advantage of the enormous benefits of
the ISO system certificate.
SOURCE BUSINESSDAY
DATE 24/10/07
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