By JKNewsMedia
ACCESS TO car ownership in Nigeria has received a major boost as Stanbic IBTC Bank and Autochek have disbursed over ₦4 billion in vehicle financing since August 2024.
The partnership, which integrates banking expertise with automotive technology, has made purchasing vehicles more accessible to Nigerians.
Currently, ₦1 billion in additional deals are being processed, reinforcing the programme’s growth and impact on the country’s automotive sector.
This initiative combines Stanbic IBTC Bank’s financial network with Autochek’s digital platform and dealership infrastructure to simplify the car-buying process. Customers benefit from streamlined applications, competitive interest rates, and flexible repayment options.
At a media briefing in Lagos, Olu Delano, Executive Director, Personal & Private Banking at Stanbic IBTC Bank, emphasised the significance of the partnership.
He noted that by removing barriers to car ownership, the bank is fulfilling its commitment to innovative financial solutions tailored to customers’ needs.
Mayokun Fadeyibi, Chief Operating Officer at Autochek, described the collaboration as a game-changer for Nigeria’s automotive market.
He highlighted how technology-driven financing has enhanced accessibility, transparency, and convenience for aspiring car owners.
He also adds that with Autochek’s extensive dealer network, customers gain access to a variety of vehicles, ensuring they find options that suit their preferences and budgets.
The programme’s success, he noted, stresses Stanbic IBTC Bank’s role in fostering economic empowerment and advancing the country’s automotive industry.
