CIG motors, FCMB unveil strategic partnership to boost vehicle ownership in Nigeria

CIG Motors has partnered with First City Monument Bank (FCMB) to introduce a robust auto financing scheme tailored for individuals and businesses.

The collaboration allows prospective buyers to access FCMB auto loans of up to N70 million with repayment periods stretching up to five years. The initiative focuses on the purchase of brand-new GAC Motor vehicles, providing a range of exclusive perks to sweeten the deal.

The benefits include free vehicle registration, a complimentary service package for the first year, a N600,000 fuel voucher, a five-year or 150,000km warranty, and additional accessories such as fire extinguishers and foot mats.

At the signing of a Memorandum of Understanding (MoU) during the CIG Motors Grand Auto Fair in Lagos, the Executive Director of CIG Motors, Jubril Arogundade, highlighted the broader economic and social implications of the partnership.

“With this new partnership, we are driving towards a future where more Nigerians can enjoy world-class mobility and meet their aspirations.

“By combining CIG Motors’ expertise in automotive excellence and FCMB’s robust financial solution, we are fostering economic growth and enabling dreams,” Arogundade stated.

The Managing Director of FCMB, Mrs. Yemisi Edun, expressed optimism about the initiative, emphasizing its potential to eliminate barriers to vehicle ownership. Represented by the bank’s National Head of Sales, Mr. Emmanuel Comla, she noted:

“As a responsive institution, we ensure our customers, including first-time vehicle buyers, can now own the car of their choice without hassle, thanks to this partnership.”

The partnership is expected to stimulate increased adoption of GAC Motor vehicles while providing a convenient pathway for Nigerians to embrace modern mobility solutions.

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