Ruth Ibikunle
It has being established with proven records that efficient and effective management of shareholders’ interest is key and secret among others to a healthy business. Shareholders unavoidably have to repose trust on the managers of their funds of which some of them they might not ever meet or have any opportunity to relate with one on one.
Good managers however are characterised by having at heart and protecting the good interest of their shareholders and they always strife despite their busy schedule to find time and relate with their shareholders at all level.
The management of C&I Leasing Plc is one of such good managers and that’s why we are pleased once again to bring to you on our Executive Watch the Chief Financial Officer of C&I Leasing Plc, Mr Alex Mbakogu. Excerpts:
I am sure Covid-19 is a novel challenge your organization have to combat, how are you managing this?
Like you said, Covid-19 is novel, and we have had to innovate. Yes, it came with challenges, but there are a lot of opportunities. C&I leasing is leveraging on the opportunities especially in the sectors that have and are still showing growth potentials. As a diversified organization, we are seeing more opportunities in this period and are leveraging on those opportunities to continue offering our superior services. Also, to navigate this period, we ensure that we maintain enough dry powder to take advantage of businesses, while efficiency, and cost optimization are given attention as well.
In what specific ways would you say this pandemic have impacted your businesses?
On the positive, there are new business opportunities in some sectors-Healthcare, Logistics, IT etc and we are taking advantage of them. It has also shown that we can look at the way we work and operate differently. It has opened a lot of opportunities. On the negative, I think that certain sectors that we play in experience challenge and their activities affected and by extension we, the players. Supply chain disruption has affected businesses. However, I think C&I Leasing has more to gain and take advantage of.
What are your post covid-19 plans in boosting your investors’ worth?
We are leveraging on the opportunities, developing new products, putting more structures to enhance efficiency and cost optimization.
Let’s talk about your 2019 Audited report, why the delay?
As we are all aware, Covid-19 necessitated state and nationwide lockdown towards the end of March 2020, till 1st on June 2020, and this affected all sectors both public and private. This affected the audit finalization and necessary regulatory approval of the Audited Accounts-CBN our primary regulator was on lockdown as well. The audited financials are currently with our primary regulator for approval which we hope should come in before the month runs out. It is also good to note that CBN has extended the submission deadline for 2019 Audited Accounts for Other financial Institutions (OFIs) to 31st July 2020 due to disruptions occasioned by Covid-19.
I strongly believe that your reported earnings in your interim report for the year ended Dec 31st 2019 is the only stimuli keeping your stock price afloat at above N5, don’t you think further delay in your results can push this further down?
We are engaging our primary regulator to ensure quick approval of the Audited Financials so that we can release same to the public accordingly.
Any assurance of further qualitative representation for the existing shareholders?
We thank our existing shareholders for the trust, patience and confidence on C&I and the Management. We will continue to work towards unlocking and delivering more values to all stakeholders
What advice do you have for the intending shareholders?
For intending shareholders, there is no better time to get on board than now. They should contact us or their advisers on the best way to get on board.
Kindly advise those who are yet to be in this market for whatever reason
My advice for those who are yet to be in this market is that they have to join now. They have to invest now both for current earning streams and capital appreciation. It is the firewood that a man/woman gathers during the dry season that he/she will use during the rainy season.