Access Bank launches vehicle financing scheme with 10% deposit

By Uche Usim
Nigerians seeking to own vehicles can now do so with as little as a 10 per cent down payment under a new financing initiative launched by Access Bank to improve mobility and make vehicle ownership more affordable.
The scheme, unveiled at the AutoFest exhibition in Lagos, enables customers to access financing of up to 90 per cent of a vehicle’s value through a digital platform that connects buyers, vehicle dealers, manufacturers and financiers within a single ecosystem.
Speaking at the launch, Executive Director, Corporate and Investment Banking Division at Access Bank, Iyabo Soji-Okusanya, said the initiative was designed to tackle one of the biggest challenges facing N...