The Federal Government has opened talks with three banks in Nigeria to facilitate the establishment of single-digit interest loans for buyers of new vehicles being assembled in Nigeria.
The Director-General, National Automotive Design and Development Council, Mr Jelani Aliyu, stated this in Lagos while speaking with journalists on the sidelines of the launch of a 2019 Nigeria-assembled Honda HR-V.
He gave the names of the banks as Wema Bank, Jaiz Bank and Stanbic IBTC Bank, adding that discussions were already at an advanced stage.
Jelani stated, “We are at the stage of finalising the agreement in terms of the MOA– Memorandum of Agreement” adding that the deal would finalised by the end of the current quarter. Read more