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Nigerian bank unveils N70 million loan scheme to help citizens purchase cars

CIG Motors and First City Monument Bank (FCMB) have partnered to make vehicle ownership more accessible to Nigerians.

Through the partnership, consumers can buy brand-new GAC Motor vehicles with FCMB auto loans up to N70 million, with repayment terms of about five years.

Some advantages of the programme are free car registration, a free first-year service package, N600,000 gasoline voucher, a five-year or 150,000-kilometer warranty, and free accessories like foot mats and fire extinguishers.

CIG Motors’ executive director, Jubril Arogundade stated that the company is making consumers dream a reality.

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

Mrs. Yemisi Edun, Managing Director, First City Monument Bank, added: “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 FCMB-CIG Motors auto loan program is available to Nigerians on salary, independent contractors, and companies looking to grow their fleets. It is intended to enable eligible applicants to simply spread repayments and partially finance car purchases.

 

Source: www.mynigeria.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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