C & I Leasing : AND I LEASING PL.- AUDITED FINANIAL STATEMENT FOR 2021

C & I LEASING PLC

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Contents			Page
Statement of directors' responsibilities in relation to the consolidated financial
statements	1
Independent Auditor's Report	2
Consolidated statement of financial position	5
Consolidated statement of profit or loss and other comprehensive income	7
Consolidated statement of changes in equity	8
Consolidated statement of cash flows	10
Statement of prudential adjustments	11
Notes to the Consolidated financial statements	12
Other national disclosures:
Statement of value added - Group	88
Statement of value added - Company	89
Financial Summary	90

C & I LEASING PLC

STATEMENT OF DIRECTORS' RESPONSIBILITIES IN RELATION TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

In accordance with the provisions of the Companies and Allied Matters Act, Laws of the Federation of Nigeria 2020, and the Financial Reporting Council Act No. 6, 2011, the Directors are responsible for the preparation of consolidated financial statements which give a true and fair view of the state of affairs of the Group for the year ended 31 December 2021, and of the financial performance for the year and of its profit or loss and other comprehensive income for the year. The responsibilities include ensuring that the Group:

1. keeps proper accounting records that disclose, with reasonable accuracy, the financial position of the group and comply with the requirements of the Companies and Allied Matters Act;
2. establishes adequate internal controls to safeguard its assets and to prevent and detect fraud and other irregularities;.
3. prepares its consolidated financial statements using suitable accounting policies supported by reasonable and prudent judgments and estimates that are consistently applied; and
4. it is appropriate for the consolidated financial statements to be prepared on a going concern basis unless it is presumed that the Group will not continue in business.

The Directors accept responsibility for the accompanying consolidated financial statements, which have been prepared using appropriate accounting policies supported by reasonable and prudent judgments and in compliance with the Financial Reporting Council of Nigeria Act, No 6, 2011 and in manner required by the Companies and Allied Matters Act, 2020.

The Directors are of the opinion that the accompanying consolidated financial statements give a true and fair view of the state of the financial affairs of the Group and of the financial performance for the year, in accordance with the requirements of the Financial Reporting Council of Nigeria Act, No 6, 2011 and the Companies and Allied Matters Act, 2020, the Banks and Other Financial Institutions Act, 2020 and other relevant Central Bank of Nigeria circulars.

The Directors further accept responsibility for the maintenance of accounting records that may be relied upon in the preparation of the consolidated financial statements, as well as adequate systems of financial control.

Nothing has come to the attention of the Directors to indicate that the Group will not remain a going concern for at least twelve months from the date of this consolidated financial statements.

Signed on behalf of the Directors by:

Emeka Ndu	Ugoji Lenin Ugoji
Vice Chairman	Managing Director
FRC/2013/ICAN/00000003955	FRC/2015/NIM/00000012363
Dated: 24 March 2022	Dated: 24 March 2022

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