Access Bank Plc has launched a major vehicle financing initiative, dubbed AutoFest, aimed at making car ownership more accessible to Nigerians amid rising vehicle prices and tightening economic conditions.
Under the new scheme, the bank will provide up to 90 per cent funding for both new and certified pre-owned vehicles, requiring customers to make a minimum equity contribution of just 10 per cent. The initiative features flexible repayment tenures extending beyond four years and boasts a streamlined digital application process.
Speaking at the launch event in Lagos, the Executive Director of the Corporate and Investment Banking Division at Access Bank, Iyabo Soji-Okusanya, highlighted the bank’s intent to eliminate the financial barriers that historically restricted vehicle ownership in the country.
“You apply online, and you go home with the keys to your car already in your pocket”, Soji-Okusanya said, emphasising the speed of the digital platform.
“The programme is designed to
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