C&I Leasing Shareholders Approve 20 Kobo Dividend, Ratify Board Appointments at 35th AGM
Shareholders of C&I Leasing Plc have approved a dividend payout of 20 kobo per ordinary share and ratified key board appointments at the company’s 35th Annual General Meeting (AGM) held virtually on June 15, 2026.
The resolutions, released by the company on June 17, showed that shareholders also approved the audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, independent auditors and audit committee.
Shareholders Approve Dividend Payment
One of the key outcomes of the meeting was the approval of a dividend of 20 kobo per ordinary share payable to shareholders whose names appeared on the company’s register as of the qualification date.
The dividend approval underscores the company’s commitment to delivering value to shareholders despite ongoing economic and operational challenges across various sectors of the Nigerian economy.
Directors Re-Elected
Shareholders also approved the re-election of Mr. Babatunde Edun and Mr. Omotunde Alao-Olaifa as directors of the company following their retirement by rotation and subsequent offer for re-election.
The approvals ensure continuity in the company’s leadership as it pursues its growth strategy across its leasing, logistics, fleet management and marine services businesses.
Board Appointments Ratified
In the special business segment of the AGM, shareholders ratified the appointments of Barrister Nick Onyebuchi Omeye and Mr. Chima Njoku as Non-Executive Directors of the company.
The ratifications strengthen the board’s governance structure and expand its pool of professional expertise as the company navigates an increasingly competitive business environment.
Non-Executive Directors’ Fees Approved
Shareholders approved annual remuneration of ₦9 million for each Non-Executive Director and ₦12 million for the Chairman of the Board for the financial year ending December 31, 2026.
The approval forms part of the company’s broader corporate governance framework aimed at attracting and retaining experienced board members capable of providing strategic oversight.
Audit Committee Reconstituted
The meeting also approved the election of Mr. Sulaiman B. Adenrele, Mr. Fredrick Olufemi Oduyemi and Mrs. Christie O. Vincent-Uwalaka as shareholder representatives on the Audit Committee for the 2026 financial year.
The Board’s representatives on the committee will be Mr. Omotunde Alao-Olaifa and Mr. Oluyemi Peter Abaolu-Johnson.
In addition, shareholders authorized the directors to determine the remuneration of the company’s external auditors for the 2026 financial year and approved the remuneration of managers as disclosed in the annual report.
Related Party Transaction Mandate Approved
Shareholders further granted the company a general mandate covering recurrent related-party transactions undertaken in the ordinary course of business.
According to the resolution, the approval applies to transactions that are revenue-generating, trading-related or necessary for the day-to-day operations of the company and its related entities. The mandate will remain valid until the conclusion of the next annual general meeting.
Outlook
The resolutions passed at the AGM highlight C&I Leasing’s focus on maintaining shareholder returns, strengthening corporate governance and ensuring operational flexibility as it executes its strategic objectives.
Investors will continue to monitor the company’s financial performance, dividend sustainability and business expansion initiatives as management seeks to build on its position in Nigeria’s leasing and mobility solutions industry.
