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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

C & I Leasing

CILEASING · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
C & I Leasing Plc
Listing
CILEASING on the Nigerian Exchange, active · ISIN NGCILEASING2 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Gross earnings

    NGN 50.2 billion

    50,154,721 NGN thousands · p31

    +36.5% vs 2024

    Leasing company: 'Gross earnings' as printed (p31, 50,154,721); not revenue.

  • Net lease income

    NGN 25.6 billion

    25,638,883 NGN thousands · p31

    +26.6% vs 2024

    'Net lease income' (p31), the core lease margin.

  • Operating profit

    NGN 16.0 billion

    15,965,520 NGN thousands · p31

    +57.0% vs 2024

    'Operating profit' (p31).

  • Profit after tax

    NGN 3.91 billion

    3,909,697 NGN thousands · p31

    +143.6% vs 2024

    'Profit after tax' (p31).

  • Total assets

    NGN 142 billion

    141,823,900 NGN thousands · p30

    +22.0% vs 2024

    'Total assets' (p30).

  • Total equity

    NGN 51.1 billion

    51,148,855 NGN thousands · p30

    +6.2% vs 2024

    'Total equity' (p30).

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Gross earnings1 50,154,721 36,738,182
Lease income2 44,476,759 31,078,341
Lease expense3 (18,837,876) (10,828,934)
Net lease income4 25,638,883 20,249,407
Net outsourcing income5 1,725,487 1,367,737
Tracking income6 221,866 154,578
Tracking expense7 (105,832) (88,145)
Net tracking income8 116,034 66,433
Interest income 324,586 102,138
Investment income9 –10 –10
Other operating income 2,127,423 818,592
Impairment charge11 (81,264) (38,422)
Depreciation and amortisation expense12 (9,312,256) (7,975,735)
Personnel expenses (2,023,743) (1,737,337)
Other operating expenses (2,549,630) (2,682,092)
Operating profit 15,965,520 10,170,721
Finance cost (14,265,966) (10,556,782)
Share of profit from joint venture13 1,278,600 3,216,796
Loss on net monetary position14 –15 (147,828)
Profit before tax 2,978,154 2,682,907
Income tax credit/(expense) 931,543 (1,078,194)
Profit after tax 3,909,697 1,604,713
Non-controlling interests16 289,779 467,132
(Loss)/gain on translation of foreign operations17 (627,645) 20,003,650
Gain on investment securities at fair value through other comprehensive income (Net of tax)18 9,570 11,898
Other comprehensive income (618,075) 20,015,548
Total comprehensive income (net of tax) 3,291,622 21,620,261
Owners of the parent (total comprehensive income)19 3,190,827 21,061,111
Non-controlling interests (total comprehensive income)20 100,795 559,150
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (18)
  1. “Gross earnings” is an issuer-specific line, not mapped to a shared definition: Memorandum total of gross income (not a step of the statement).
  2. “Lease income” is an issuer-specific line, not mapped to a shared definition: Note 33.
  3. “Lease expense” is an issuer-specific line, not mapped to a shared definition: Note 34.
  4. “Net lease income” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  5. “Net outsourcing income” is an issuer-specific line, not mapped to a shared definition: Note 35.
  6. “Tracking income” is an issuer-specific line, not mapped to a shared definition: Note 36.
  7. “Tracking expense” is an issuer-specific line, not mapped to a shared definition: Note 36.
  8. “Net tracking income” is an issuer-specific line, not mapped to a shared definition: Printed subtotal.
  9. “Investment income” is an issuer-specific line, not mapped to a shared definition: Note 38: dividends from subsidiaries (Company only; dash in the Group columns).
  10. “Impairment charge”: mapping to a shared definition is uncertain. Impairment charge on financial assets (note 40).
  11. “Depreciation and amortisation expense”: mapping to a shared definition is uncertain. One line for depreciation (mostly of plant and equipment for lease) and amortisation.
  12. “Share of profit from joint venture”: mapping to a shared definition is uncertain. Share of profit of a joint venture (equity method).
  13. “Loss on net monetary position” is an issuer-specific line, not mapped to a shared definition: Note 55: IAS 29 hyperinflation (2024 only).
  14. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Note 32.
  15. “(Loss)/gain on translation of foreign operations” is an issuer-specific line, not mapped to a shared definition: Note 29; OCI that may be reclassified.
  16. “Gain on investment securities at fair value through other comprehensive income (Net of tax)” is an issuer-specific line, not mapped to a shared definition: Note 30; OCI not reclassified.
  17. “Owners of the parent (total comprehensive income)” is an issuer-specific line, not mapped to a shared definition: Attribution of total comprehensive income.
  18. “Non-controlling interests (total comprehensive income)” is an issuer-specific line, not mapped to a shared definition: Attribution of total comprehensive income.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Cash and balances with banks 3,436,028 4,359,087
Finance lease receivables1 9,961,132 5,684,562
Trade and other receivables 32,818,597 19,025,404
Other assets 12,515,654 8,939,199
Investment securities at fair value through other comprehensive income 82,887 37,141
Investment in subsidiaries2 –3 –3
Investment in joint ventures4 6,549,419 6,706,578
Intangible assets 32,271 6,126
Plant and equipment for lease5 73,565,540 69,416,666
Property, plant and equipment 2,183,086 2,098,594
Deferred income tax assets 679,286 –3
Total assets 141,823,900 116,273,357
Due to banks 2,671,392 1,720,015
Commercial notes issued6 15,279,869 7,057,668
Trade and other payables 24,945,426 19,085,987
Current income tax liabilities 491,136 664,562
Deferred income tax liability –7 354,318
Loans and borrowings 47,287,222 39,238,716
Total liabilities 90,675,045 68,121,266
Share capital 1,474,288 1,474,288
Share premium 4,253,144 4,253,144
Retained earnings 4,738,563 1,729,326
Statutory reserve8 2,685,997 2,295,027
Regulatory risk reserve 2,516,855 2,569,375
Foreign currency translation reserve9 33,263,495 33,702,156
Fair value reserve 42,923 33,353
Asset revaluation reserve 272,178 272,178
Hyper-inflation reserve10 314,899 314,899
Equity attributable to owners (unlabelled subtotal) 49,562,341 46,643,746
Non-controlling interests 1,586,514 1,508,345
Total equity 51,148,855 48,152,091
Total liabilities and equity 141,823,900 116,273,357
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (8)
  1. “Finance lease receivables” is an issuer-specific line, not mapped to a shared definition: Note 10.
  2. “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 14 (Company only; dash in the Group columns).
  3. “Investment in joint ventures”: mapping to a shared definition is uncertain. Investment in joint ventures (equity method).
  4. “Plant and equipment for lease” is an issuer-specific line, not mapped to a shared definition: Note 17: operating-lease assets.
  5. “Commercial notes issued” is an issuer-specific line, not mapped to a shared definition: Note 20.
  6. “Statutory reserve” is an issuer-specific line, not mapped to a shared definition: Note 27.
  7. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: Note 29.
  8. “Hyper-inflation reserve” is an issuer-specific line, not mapped to a shared definition: Note 55.2.

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Profit before tax1 2,978,154 2,682,907
Profit from investment in joint ventures2 (1,278,600) (3,216,796)
Management and operational fee from joint venture3 (134,379) (140,021)
Amortisation of intangible assets4 15,667 12,757
Depreciation of plant and equipment for lease5 9,538,446 7,455,004
Depreciation of property, plant and equipment6 235,469 507,974
Interest income7 (324,586) (102,138)
Dividend received from subsidiary company8 –9 –9
Profit on disposal of plant and equipment for lease10 (137,280) (330,352)
Impairment charge11 59,608 38,422
Net foreign exchange (gain)/loss12 (87,174) 97,533
Finance cost13 14,265,966 10,556,782
Gain on net monetary position14 –9 147,828
Operating cash flow before working-capital changes (unlabelled subtotal)15 25,131,291 17,709,900
Increase in finance lease receivables16 (8,255,860) (4,520,843)
Increase in trade and other receivables17 (12,807,864) (6,894,658)
(Increase)/decrease in other assets18 (3,585,519) 2,092,234
Increase in trade and other payables19 5,859,439 11,541,837
Dividend received from subsidiary company8 –20 –20
Cash generated from operations (unlabelled subtotal) 6,341,487 19,928,470
Tax paid (393,385) (1,590,938)
Net cashflow from/(used in) operating activities 5,948,102 18,337,532
Purchase of intangible assets (47,000) (1,372)
Purchase of plant and equipment for lease21 (12,117,529) (4,314,940)
Purchase of property, plant and equipment (377,434) (173,005)
Interest received 324,586 102,138
Proceeds from sale of property, plant and equipment –22 9,258
Proceeds from sale of plant and equipment for lease23 256,606 353,598
Acquisition of investment securities24 (31,245) –22
Net cash used in investing activities (11,992,016) (4,024,324)
Proceeds from loans and borrowings 31,627,809 45,114,383
Repayment of loans and borrowings (27,584,629) (24,852,965)
Commercial notes issued25 15,197,730 –26
Commercial notes redeemed27 (7,057,669) (12,606,859)
Dividends paid (294,858) (88,462)
Interest paid on loans and borrowings (14,051,067) (10,292,832)
Interest paid on commercial notes28 (3,245,517) (1,567,519)
Net cash (used in)/from financing activities (5,408,201) (4,294,254)
(Decrease)/increase in cash and cash equivalents (11,452,115) 10,018,954
Cash and cash equivalents at 1 January 2,639,072 711,808
Foreign currency translation loss29 9,577,680 (7,772,465)
Inflation effect as a result of IAS 2930 –31 (319,225)
Cash and cash equivalents at 31 December 764,636 2,639,072
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_negehf3z9qrw.cf_before_working_capital.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_generated_from_operations.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  4. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  5. Printed “-”; reading unresolved, so no amount is shown. Printed dash; no printed subtotal confirms a nil reading.
Notes and alternative reported figures (26)
  1. “Profit before tax” is an issuer-specific line, not mapped to a shared definition: Opening line of the cash-flow statement.
  2. “Profit from investment in joint ventures” is an issuer-specific line, not mapped to a shared definition: Note 15d; non-cash adjustment.
  3. “Management and operational fee from joint venture” is an issuer-specific line, not mapped to a shared definition: Note 15d; adjustment.
  4. “Amortisation of intangible assets” is an issuer-specific line, not mapped to a shared definition: Note 16.
  5. “Depreciation of plant and equipment for lease” is an issuer-specific line, not mapped to a shared definition: Note 17.
  6. “Depreciation of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Note 18.
  7. “Interest income” is an issuer-specific line, not mapped to a shared definition: Note 37.
  8. “Dividend received from subsidiary company” is an issuer-specific line, not mapped to a shared definition: Note 38; Company only (dash in the Group columns).
  9. “Profit on disposal of plant and equipment for lease” is an issuer-specific line, not mapped to a shared definition: Notes 39.1 and 39.2.
  10. “Impairment charge” is an issuer-specific line, not mapped to a shared definition: Note 40.
  11. “Net foreign exchange (gain)/loss” is an issuer-specific line, not mapped to a shared definition: Notes 39 and 43.
  12. “Finance cost” is an issuer-specific line, not mapped to a shared definition: Note 44.
  13. “Gain on net monetary position” is an issuer-specific line, not mapped to a shared definition: Note 55.
  14. “Operating cash flow before working-capital changes (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled printed subtotal.
  15. “Increase in finance lease receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  16. “Increase in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  17. “(Increase)/decrease in other assets” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  18. “Increase in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  19. “Purchase of plant and equipment for lease” is an issuer-specific line, not mapped to a shared definition: Note 17; investing activities.
  20. “Proceeds from sale of plant and equipment for lease” is an issuer-specific line, not mapped to a shared definition: Note 39.1; investing activities.
  21. “Acquisition of investment securities” is an issuer-specific line, not mapped to a shared definition: Note 11.1; investing activities.
  22. “Commercial notes issued” is an issuer-specific line, not mapped to a shared definition: Note 20.2; financing activities.
  23. “Commercial notes redeemed” is an issuer-specific line, not mapped to a shared definition: Note 20.2; financing activities.
  24. “Interest paid on commercial notes” is an issuer-specific line, not mapped to a shared definition: Note 20.2; financing activities.
  25. “Foreign currency translation loss”: mapping to a shared definition is uncertain. Printed 'Foreign currency translation loss' (positive 9,577,680 in 2025, negative in 2024): translation effect of foreign operations on cash.
  26. “Inflation effect as a result of IAS 29” is an issuer-specific line, not mapped to a shared definition: Note 55.2.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)3 1.22771 0.38582
Profit / (loss) attributable to shareholders (NGN thousands)4 3,619,918 1,137,581
  1. Printed as 122.77 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 38.58 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Basic earnings per share [kobo]”.
  2. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid (294,858) NGN thousands Annual report, p34
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid (88,462) NGN thousands Annual report, p34

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • C & I Leasing Plc — Annual Report and Audited Consolidated and Separate Financial Statements, 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Ernst & Young (Kanayo Echena), unmodified opinion · signed

    Auditor's sign-off: Kanayo Echena (FRC/2012/PRO/ICAN/004/00000000150), for Ernst & Young

    Final status: Independent auditor's report on the consolidated and separate financial statements (Ernst & Young, PDF pp24-29) is unmodified, signed by hand by Kanayo Echena (FRC/2012/PRO/ICAN/004/00000000150) for Ernst & Young with the ICAN seal, dated 06 May 2026 (page image p29). The statements were approved by the Board on 31 March 2026 and signed by Samuel Maduka Onyishi (Chairman), Ugoji Lenin Ugoji (Managing Director) and Adesoji Aiyeola (Acting CFO) (page image p30).

    Document date
    6 May 2026
    Auditor's report
    6 May 2026
    Board approval
    31 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN thousands (printed “N'000”)
    • 'Foreign currency translation loss' in the cash-flow statement is printed positive in 2025 (9,577,680) and negative in 2024 ((7,772,465)); kept as printed. Printed 2025 closing cash 764,636 is 1 below opening cash plus the movements (rounding). Equity attributable to owners (unlabelled subtotal, 49,562,341) is 1 below the sum of its lines (rounding). 2024 includes an IAS 29 loss on the net monetary position (147,828) and an inflation effect on cash (319,225).
    • Cash and cash equivalents in the cash-flow statement (764,636; 2024: 2,639,072) are net of amounts due to banks (3,436,028 - 2,671,392 = 764,636; 2024: 4,359,087 - 1,720,015 = 2,639,072), so they differ from balance-sheet cash and balances with banks (validation fails cf.closing/opening_equals_balance_sheet follow from this). The 2024 closing cash also includes the IAS 29 inflation effect (319,225), an issuer concept, so cf.closing_cash fails for 2024 by exactly that line. Interest received is printed within investing activities and interest paid within financing activities. The statement of financial position is unclassified (no current/non-current subtotals).
    Technical details
    File
    107 pages, scanned (figures read by OCR and checked against the page image)
    SHA-256
    d11a49dd19973cacfee81fdf189ac9d3cdcf64ccae1c0a552be8731430b00597
    Entity as printed
    C & I Leasing Plc and its subsidiaries (the Group)
    Exchange copy
    retrieved 2026-10-08T18:02:19Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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