This development was made
known by the company’s Vice Chairman, Mr.
Emeka Ndu, in Lagos during the company’s investor conference for the year,
2015.
In Mr. Ndu’s own words: “We are in the process
of re-organisation in order to position our business for higher growth and
profitability. With the new auto policy, we would be merging the C& I
Motors into the group as we would only be providing vehicle support services.
So the C& I Motors will serve as division of C& I Leasing, focusing on
maintenance, rather than joining the auto policy train.”
Mr. Ndu went further to
reveal that sequel to the retirement of the Chairman of the company, Abdul D. Bello, and re-organisation
of the entity, Mr. Andrew Otike-Odibi was appointed as the
new Managing Director of C & I a Leasing, while himself was promoted to the
position of Vice Chairman.
Mr. Otike-Odibi, in his
speech at the conference which coincided with the 25th year anniversary of the
company, confirmed the diversification process.
In Mr. Otike-Odibi’s own
words: “The diversification process will help boost
productivity and reduce risk in its operations. Over the last two years, the
company has divested of peripheral activities to focus on core operational
areas starting with the 2014 divestment to a group led by the management
of its iconic Red cabs.
“By the end of
2015, we expect to complete the merger. In fact, the company has diversified
its leasing business to include sale of automobiles, as well as fleet
management services. We have Hertz Rent-A-Car. We are the sole franchisee
and operator of the popular Hertz-Rent- A-Car brand in Nigeria. The company
currently manages over a thousand vehicles and professional chauffeurs around
the country; offering, pick up and drop off, Airport shuttle and daily rental
services.
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