In a groundbreaking collaboration, First City Monument Bank (FCMB) and CIG Motors have introduced a flexible financing scheme aimed at making vehicle ownership more accessible to Nigerians. This initiative caters to salaried workers, independent contractors, and businesses, offering tailored financial solutions for purchasing new GAC Motor vehicles.
Key Features of the FCMB-CIG Motors Auto Loan Program
- Loan Amount: Financing up to ₦70 million.
- Repayment Plan: Flexible repayment terms spread over up to five years.
- Exclusive Perks:
- Free car registration.
- Complimentary first-year service package.
- ₦600,000 fuel voucher.
- Warranty: Five years or 150,000 kilometers.
- Free accessories, including foot mats and fire extinguishers.
Statements from the Partners
- Jubril Arogundade, Executive Director at CIG Motors, highlighted the partnership’s vision:
“We are working toward a time when more Nigerians can fulfill their dreams and experience top-notch mobility. Combining CIG Motors’ expertise in automotive excellence with FCMB’s financial solutions fosters economic growth and enables dreams.”
- Mrs. Yemisi Edun, Managing Director of FCMB, emphasized the bank’s commitment to enabling hassle-free car ownership:
“This partnership ensures that customers, including first-time buyers, can own the car of their choice with ease.”
Economic Impact
The FCMB-CIG Motors alliance is expected to:
- Encourage vehicle ownership across diverse income groups.
- Support businesses looking to expand their fleets.
- Boost Nigeria’s auto industry and contribute to economic development.
With FCMB’s robust financial capabilities and CIG Motors’ automotive expertise, the partnership sets a new benchmark for empowering Nigerians through affordable mobility solutions.
For more information, interested applicants can visit FCMB or CIG Motors to explore eligibility and loan options.
