Access Bank Plc has launched a vehicle financing initiative to address high ownership costs and improve mobility access for individuals and businesses through flexible financing solutions.
The program, called Access Auto Fest, is in partnership with leading automobile distributors, including CFAO, CIG Motors, Elizade, Kewalram Chanrai Group, Mikano Motors Division, and Stallion.
Speaking at the launch in Lagos on Friday, Mrs. Iyabo Soji-Okusanya, Executive Director of the Corporate and Investment Banking Division, said the initiative aims to remove financial barriers to vehicle ownership in Nigeria.
She emphasized that mobility is vital for productivity, commerce, and economic participation.
“At Access Bank, we see mobility as more than transportation. It’s about productivity, commerce, inclusion, and participation. This conviction underpins Access Auto Fest and our broader vehicle asset financing initiative. Our goal is simple: turn aspiration into ownership,” she said.
Soji-Okusanya added that customers could access financing of up to 90% of a vehicle’s value with a minimum 10% equity contribution.
She noted that credit decisions would be made within 72 hours through a fully digital application process.
The platform allows customers to choose new or certified pre-owned vehicles, secure financing, and complete purchases seamlessly.
Mr. Ishmael Nwokocha, Group Head of Access Bank Mobility, stated the initiative connects buyers, dealers, financiers, insurers, and government agencies on a single platform.
He said successful applicants would receive their vehicles and documentation within 72 hours of meeting requirements.
The scheme serves individuals, SMEs, and corporate clients, including those seeking fleet solutions.
Mr. Olumide Olatunji, Head of Retail Banking, added that the program is nationwide and aims to make vehicle ownership easier for all.
Mrs. Eniola Olutimilehin, MD of CIG Motors, said the partnership would make vehicle ownership faster, easier, and more affordable.
Representatives from CFAO, Elizade, Kewalram Chanrai Group, Mikano Motors, and Stallion also highlighted the benefits to buyers and the automotive industry.
Mrs. Chizoba Iheme, Group Head of Products and Segments, responded to journalists that the scheme covers both new and certified pre-owned vehicles, with options for loan restructuring for repayment challenges.
She noted the program is open to individuals, SMEs, schools, hospitals, and organizations needing vehicles for operational purposes.
