This collaboration is aimed at making eco-friendly mobility more accessible to Nigerians through innovative and flexible financing solutions, reinforcing both organisations’ commitment to renewable energy and environmental sustainability.

The partnership was officially launched at an exclusive product showcase held at the BYD showroom in Victoria Island, Lagos.

Attendees had the opportunity to explore BYD’s cutting-edge electric vehicle models, engage with industry experts, and learn about tailored vehicle financing options from Stanbic IBTC.

To encourage early adoption, the initiative includes one-month special incentives, such as vendor discounts and reduced interest rates on vehicle financing.

The event featured compelling addresses from executives of both organisations, highlighting their shared vision for a cleaner, more efficient transport ecosystem in Nigeria.

Olu Delano, executive director at Stanbic IBTC Bank, stated:

“This alliance underscores our dedication to empowering Nigerians with green alternatives that not only address environmental concerns but also offer practical, cost-effective solutions for everyday mobility. By combining LOXEA BYD’s innovative electric and hybrid vehicles with our flexible financing, we are not just offering cars, we are driving a cleaner future.”

Mehdi Slimani, managing director of LOXEA Nigeria, added:

“At LOXEA, we are proud to lead the transition toward cleaner mobility in Nigeria. Distributing BYD’s cutting-edge electric vehicles, along with our comprehensive suite of fleet and mobility solutions, allows us to offer a truly future-ready alternative. This partnership with Stanbic IBTC is a significant step forward in making electric mobility more accessible and practical for Nigerian drivers. Together, we are not just introducing new vehicles, we are shaping a smarter, greener transportation ecosystem.”

The event sparked enthusiasm among attendees from various sectors, reflecting growing interest in sustainable automotive solutions. Models like the BYD ATTO 3 and BYD Dolphin were showcased as practical options for urban mobility, offering reduced reliance on fossil fuels, lower operational costs, and a smaller environmental footprint.

Looking ahead, this partnership positions Stanbic IBTC Bank as a key enabler of Nigeria’s renewable energy transition, expanding access to sustainable transport for a broader audience.

Through strategic collaborations like this, the bank continues to drive innovation in financial services tailored to eco-conscious consumers.

This collaboration has disbursed over ₦4 billion in loans since its inception in August 2024; empowering numerous individuals to purchase their desired vehicles.

With approximately ₦1 billion in deals that are currently being processed, the partnership is poised for continued growth and impact on the Nigerian automotive landscape.

This vehicle-financing collaboration combines Stanbic IBTC Bank’s extensive financial expertise and network with Autochek’s cutting-edge technology platform and robust dealer distribution network; streamlining the car-buying process and making it more accessible and affordable for Nigerians.

Speaking at the media parley held in Lagos to engage stakeholders in the industry, Olu Delano, executive director, Personal & Private Banking, Stanbic IBTC Bank, stated –

“We are incredibly excited about the tangible impact of our collaboration with Autochek. This partnership has significantly lowered the barriers to car ownership; making it a reality for many Nigerians. At Stanbic IBTC Bank, we are dedicated to providing innovative financial solutions that cater to the evolving needs of our customers. We are committed to the long-term success of this partnership and its contribution to the growth and development of Nigeria’s automotive industry.”

Mayokun Fadeyibi, chief operating officer at Autochek, highlighted the transformative nature of the partnership.

“Our collaboration with Stanbic IBTC Bank has revolutionised the car-buying experience in Nigeria. By leveraging technology and strategic partnerships, we have made car ownership more accessible, convenient, and transparent. We share Stanbic IBTC Bank’s commitment to driving growth in the automotive sector and look forward to expanding the reach and impact of this partnership.”

The car financing programme offered through this strategic alliance provides several key advantages for customers.

Highlights include competitive interest rates that enhance affordability, as well as flexible repayment plans.

With a swift and efficient application process, customers enjoy a smooth and convenient experience.

Additionally, Autochek’s platform and extensive dealer distribution network gives customers access to various vehicles, ensuring they can find the perfect car to meet their needs.

This successful collaboration underscores Stanbic IBTC Bank’s unwavering commitment to providing innovative financial solutions that empower its customers and contribute to Nigeria’s economic growth.

The partnership with Autochek epitomises this commitment by simplifying access to essential assets and supporting the development of the automotive industry.