C&I Leasing

What C&I Leasing does

C&I Leasing Plc is a Nigerian public limited company (NGX ticker: CILEASING) incorporated in 1990 and licensed by the Central Bank of Nigeria to provide operating leases, finance leases, and ancillary business services. Operating as an integrated leasing and business services conglomerate, the company runs four core divisions: C&I Fleet Management (vehicle leasing, driver sourcing, tracking, fueling, and maintenance), C&I Outsourcing (recruitment, payroll, training, and HR business process outsourcing), C&I Marine (offshore supply vessels, patrol boats, crew boats, tugboats, platform support vessels, and marine logistics for the oil and gas sector), and Citracks (proprietary telematics for GPS-based vehicle and vessel tracking, geofencing, fuel monitoring, and driver behavior analytics). It also operates the Hertz car rental franchise in Nigeria (20+ years) and digital HR sub-brands Getajobng.com and Skillcentral.ng.

C&I Leasing serves enterprise clients across financial institutions, FMCG and manufacturing, telecommunications, pharmaceutical, aviation, and oil and gas, with named customers including NLNG Ship Management, Shell Companies in Nigeria, Dangote Refinery, BW Offshore, and Promasidor. Revenue is generated through recurring monthly fleet leasing fees, managed-service outsourcing contracts, marine vessel charter and logistics engagements, telematics subscription and installation fees, and consumer car rental. The group manages 4,500+ outsourced employees across all 36 Nigerian states and operates owned offices in Lagos (HQ), Port Harcourt, Abuja, Calabar, Enugu, and Benin City, with subsidiary operations in Ghana (Leasafric Ghana Plc) and the UAE (EPIC International FZE).

The business model is capital-intensive and balance-sheet-leveraged: FY2018 Gross Earnings reached N28.2 billion on total assets of N52.6 billion, with FY2019 Profit After Tax of N1.74 billion (up 49% year-over-year). The company funds growth through a N50 billion Commercial Paper Programme registered on FMDQ (Series 5 issuance in April 2025 raised over N22 billion at over-subscription) and is governed by a CBN-licensed board led by Chairman Dr. Samuel Maduka Onyishi (founder of Peace Mass Transit, the single largest shareholder following the 2021 acquisition of Actis's stake). The technology backbone is Citracks, with proprietary tracking devices supporting up to 10,000 retained events, and the group holds ISO 9001:2015 quality certification.

Name

C&I Leasing

Legal name

C & I Leasing Plc

Website

https://c-ileasing.com/

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

C&I Leasing Plc is a Nigerian-listed, CBN-licensed integrated leasing and business services conglomerate providing fleet management, personnel outsourcing, marine logistics, and proprietary Citracks telematics to enterprises in financial services, FMCG, telecom, oil and gas, and aviation, operating across all 36 Nigerian states with subsidiaries in Ghana and the UAE.

Ownership category

akta.pro rank

Product category

Equipment Leasing & Business Services

NAICS

Automotive Equipment Rental and Leasing (5321)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Corporate/Enterprise Car Leasing (Closed-End/Open-End) (TLABAAAA)

Keywords

• Equipment leasing services
• Fleet management solutions
• Marine logistics services
• Personnel outsourcing services
• Fleet telematics tracking

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Others, Marketing or Sales

Revenue model

1. Fleet Management Services: Vehicle leasing, operation and maintenance, driver sourcing and training, sale and lease back of existing cars, tracking, fueling and maintenance services. Revenue generated through lease payments and service fees.
2. Personnel Outsourcing: Business Process Outsourcing, 360-degree personnel outsourcing, e-business solutions. Revenue generated through staffing fees and service charges for recruitment, payroll, training and HR business process services.
3. Marine Services: Offshore supply vessels, patrol boats, crew boats, tug boats, platform support vessels, marine logistics and construction services for oil and gas industry.
4. Car Rental (Hertz): Short and long-term vehicle rentals, airport shuttle, chauffeur services, escort services. Revenue through daily, weekly and monthly rental fees.
5. Telematics Solutions (Citracks): Vehicle and vessel tracking, fuel monitoring, driver behavior analysis. Revenue from device installation and monthly monitoring subscription fees.
6. Commercial Paper Issuance: Debt capital market instrument for raising short-term working capital. Series 5 CP raised over N22 billion from N50 billion program.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

C&I Leasing Plc is Nigeria's largest integrated leasing and business services conglomerate, licensed by the Central Bank of Nigeria. It provides operating and finance leases, fleet management (vehicle leasing, driver sourcing, fueling, maintenance), marine services (offshore supply vessels, patrol boats, tug boats) for the oil and gas industry, personnel outsourcing (recruitment, payroll, HR), and telematics-based fleet tracking through its CITRACKS brand. It also operates the Hertz car rental franchise in Nigeria.

Product overview

C&I Leasing is Nigeria's largest integrated leasing and business services conglomerate operating four core business lines: Fleet Management, Outsourcing, Marine Services, and Citracks (Telematics). The company offers a comprehensive portfolio including vehicle leasing and fleet management solutions, marine logistics and vessel services for the oil and gas industry, personnel and business process outsourcing, and real-time fleet/vessel telematics tracking. The business is structured around integrated service offerings that support organizations across sectors including FMCG, financial institutions, telecommunications, energy, oil and gas, and manufacturing. The group operates with subsidiaries in Ghana (Leasafric) and UAE (EPIC International FZE), and holds the Hertz franchise in Nigeria.

Differentiator

Problem solved

Functional benefit

Brands

• C & I Marine: Marine services division providing offshore supply vessels, patrol boats, crew boats, tug boats, platform support vessels, and marine logistics for the oil and gas industry.
• C & I Outsourcing
• C & I Fleet Management
• CITRACKS
• Hertz Nigeria
• Getajobng

Products and services

• C&I Fleet Management Comprehensive fleet management offering vehicle leasing, operation and maintenance, driver sourcing and training, sale and lease back of existing cars, tracking, fueling and maintenance services for corporate client fleets across Nigeria.
• C&I Marine Marine services including offshore supply vessels, patrol boats, crew boats, tug boats, platform support vessels, and marine logistics for oil and gas operations, covering security, line and hose handling, berthing, escort, fire-fighting, and pollution control.
• C&I Outsourcing Human resource solutions including Business Process Outsourcing, 360-degree personnel outsourcing, e-business services, call center solutions, and expatriate hire services supporting organizations across industries in Nigeria.
• Citracks Telematics (CITRANS Telematics Solutions) Real-time fleet and vessel tracking solutions offering GPS-based movement tracking, location monitoring, route mapping, geofencing, driver behavior monitoring, fuel monitoring for vehicles and generators, and 18-month data history with mobile app access.
• Hertz Car Rental (Nigeria) Car rental franchise operator in Nigeria offering pick up and drop off services, airport shuttle, short and long-term rentals, escort services, and protocol services with over 1,000 vehicles and professional chauffeurs.
• Getajobng.com Online recruitment portal handling end-to-end recruitment processes for candidate assessment and job placement.
• Skillcentral.ng E-learning platform for employee training and skill development.

Quantifiable outcome

• 49% increase in profit after tax to N1.74 billion in FY 2019
• +2 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and major.

• BW OffshorecoreStrategic or Co-development Partner17% shareholders in JV company with BW Offshore; operators of the Abo & Sendje Berge FPSOs in Nigeria's oil and gas sector.
• CCS Offshore Limited (Schlumberger Group)coreStrategic or Co-development Partner25.5% shareholders in JV Company with Schlumberger Group to provide oilfield services in Nigeria.
• COOECmajorStrategic or Co-development PartnerRecently won contract to install SPMs and associated pipelines at the new Dangote refinery at Epe, Lagos.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Teleperformance: Global leader in business process outsourcing and customer experience management, serving enterprise clients across industries including financial services, telecom, and FMCG. Comparable to C&I Leasing's C&I Outsourcing division which manages 5,000+ employees across Nigeria.
• Concentrix: Global business services company offering BPO, customer experience, and digital solutions to enterprise clients including financial institutions, telecom, and FMCG. Comparable to C&I Leasing's outsourcing division in serving similar enterprise customer base across multiple industries.

Direct peers

• ALD Automotive: Global leader in operational vehicle leasing and fleet management, serving corporate clients across 40+ countries. Directly comparable in business model (B2B operating leases, fleet management, ancillary services) to C&I Leasing's enterprise car leasing operations.
• Hertz Global Holdings: Global car rental company and parent of the Hertz franchise that C&I Leasing has operated in Nigeria for 20+ years. While C&I runs a local franchise rather than competing directly, both share the same core rental business model and target overlapping customer needs in Nigeria's rental market.
• Wheels: Major North American fleet management company offering vehicle leasing, maintenance, accident management, and telematics for corporate fleets. Highly comparable integrated service offering similar to C&I Leasing's fleet management + Citracks telematics bundle.
• Element Fleet Management: World's largest pure-play automotive fleet management company, providing vehicle leasing, fleet management, and related services to corporate clients globally. Directly comparable to C&I Leasing's core fleet management business, though operating at significantly larger scale and across more geographies.
• LeasePlan: One of the world's leading fleet management and vehicle leasing companies, acquired by ALD/Stellantis in 2023. Highly comparable business model with corporate fleet leasing, maintenance, and telematics offerings similar to C&I Leasing's core services.
• Avis Budget Group: Major global car rental company offering short and long-term vehicle rentals alongside fleet leasing services. Comparable to C&I Leasing's Hertz Nigeria car rental business and corporate fleet offerings through similar B2B/B2C rental model.

Emerging players

• Geotab: Leading global provider of fleet telematics and IoT solutions for vehicles, with GPS tracking, driver behavior monitoring, and fuel management features. Directly comparable to C&I Leasing's Citracks telematics product line, though at a global rather than Nigerian scale.

Regional players

• Mermaid Maritime: Thailand-based offshore services company with significant West African operations, providing subsea engineering, ROV, and offshore vessel services to oil and gas operators. Comparable to C&I Leasing's marine division's offshore supply, tug, and platform support vessel offerings for Shell, NLNG, and Dangote.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@CILeasingPLC
• LinkedInlinkedin.com/company/cileasingplc

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about C&I Leasing