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Sunday, August 14, 2022

C& I Leasing PLC Announces Andrew Otike-Odibi’s Retirement as Group MD/CEO

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… appoints new Group MD/CEO, COO/Deputy GMD and CFO

 C&I Leasing Plc has officially announced the retirement of its Group Managing Director and CEO; Mr. Andrew Otike – Odibi, who has served the organization for over two decades.

Andrew who is a chartered accountant, joined C & I Leasing Plc in 1998 from Diamond Bank, as a Senior Manager and was appointed to the Board as an executive director in 2007.

He was appointed as the Group Managing Director and Chief Executive Officer in 2016, following which he led the company through significant growth across the different business support services offered by the organisation in both Nigeria and Ghana.

While serving as the MD at C&I Leasing Plc, Andrew bagged several awards.

In a similar development, the company has announced Mr. Ugoji Lenin Ugoji as the new Group Managing Director/CEO, effective immediately. Ugoji joined the organization as the Chief Operating Officer and Deputy Group Managing Director in 2021, bringing with him a wealth of over 20 years’ experience in Commercial/Investment Banking, Leasing, and Asset Management.

His Banking career commenced in 1999 and included stints at United Bank for Africa (formerly Continental Trust Bank) and Nal Bank Plc. Ugoji’s extensive experience in the Leasing Industry commenced in 2005 as a pioneer member of the Aquila Capital Group where he served as the pioneer Group Head – Treasury & Wealth Management with multiple laudable achievements to his credit before he wgas appointed as the pioneer Managing Director for ‘Aquila Asset Management Limited in 2010.  He joins C & I Leasing Plc from The Mellanby Trust Company Limited; an Alternative Investment and Asset Management Company.

Mr. Alexander Mbakogu who was previously the Group Chief Financial Officer at C & I Leasing Plc, has also been appointed as the new Group Chief Operating Officer and Deputy Group Managing Director. Alexander is a fellow of the Institute of Chartered Accountants of Nigeria, a member of the Institute of Credit and Risk Administration of Nigeria, and a member of the Institute of Chartered Management Accountants of Nigeria.

He has held several positions in the group since 1998 when he started his career as an account officer in the Finance department of the group.

He steadily grew in diverse roles until he became the Head Treasury and Finance before his secondment to the Group’s Ghanaian subsidiary – Leasafric  Ghana Limited in 2010 where he served as the General manager until he became the MD Leasafric Ghana Limited in 2013 and exceeded the assigned business profitability and operational efficiency targets – which have impacted not only the Ghanaian subsidiary as a unit,  but also the group’s overall performance.

C&I Leasing Plc has also confirmed the appointment of Mr. Okechukwu Nnake as the Group Chief Financial Officer of the organisation. Okechukwu joins the organisation with over 16 years of business leadership experience in multinational corporations cutting across Audit/Advisory services, Oil & Gas, and Technology sectors.

He has a record of designing and implementing efficient business processes and driving productivity. His expertise includes Finance, Treasury, Tax Strategy, Business Operations, and Supply Chain. Okechukwu holds a Master’s in Business Administration, is a Fellow of the Institute of Chartered Accountants of Nigeria, and is an Associate of the Chartered Institute of Taxation of Nigeria.

Speaking on these developments, the chairman, board of directors at C&I Leasing Plc., Dr. Samuel Maduka Onyishi, commended the achievements of Andrew, who he described as an exemplary leader. According to him, “Under Andrew’s leadership, we recorded continuous growth and sometimes exceeded shareholders’ expectations, we also commenced diversification into the non-asset-dependent services for our business units, which we shall continue to  nurture and grow to meet the needs of our clients.”

 On the subject of new appointments, he emphasized his belief in the competence of Ugoji, Alexander and Okechukwu as valuable assets for the organisation’s future and assured all stakeholders of the board’s commitment to support them to exceed the expectations of both the stakeholders and communities served by the organisation.

Reacting to his appointment, Ugoji appreciated the Board of Directors for their vote of confidence and committed to lead the organization through the next phase of growth and service to all clients, stakeholders and communities.

The C&I Leasing group of companies serves its clients through three divisions; Fleet Management, Outsourcing, and Marine Services with two subsidiaries in Ghana (Leasafric) and the United Arab Emirates (EPIC International FZE).

Incorporated as a limited liability company licensed by the Central bank of Nigeria to offer operating leases, finance leases, and other ancillary services in 1990. The organization commenced full operations, gradually establishing the Outsourcing and Fleet Management units including the commission to own and manage the HERTZ franchise in Nigeria in 1991.  In 2007, C&I Leasing concluded a major restructuring which led to the listing of its shares on the Nigerian Stock Exchange.

In 2015, following the Nigerian local content act, the organization commenced investments in the Maritime sector and has grown to be a leading provider of marine operations and logistics services in Nigeria.

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