Elizade JAC Autoland, Access Bank Forge Strategic Partnership To Revolutionise Vehicle Ownership In Nigeria
In furtherance of its commitment to ensuring Nigerians buy brand new vehicles with ease and convenience, Elizade JAC Autoland Limited has formally signed a strategic partnership with Access Bank Plc aimed at expanding access to affordable vehicle financing and accelerating mobility for both individuals and businesses across Nigeria.
The partnership signing ceremony which took place at Elizade JAC Headquarters in Lagos and was attended by senior executives from both organisations, members of the press, and distinguished guests. The collaboration, both sides noted, marks an important step toward improving accessibility, supporting small and medium enterprises (SMEs), and strengthening Nigeria’s automotive value chain.
Speaking at the signing, Demola Ade-Ojo, Managing Director and Chief Executive Officer of Elizade JAC Autoland Limited, stressed that the partnership goes beyond a commercial agreement. “This agreement is grounded in trust between the two organisations, our shared objectives, and a collective vision of sustainable impact with measurable benefits,” he said. “For us, this partnership will strengthen our ability, expand access, and reinforce our accountability to the community.”
Ade-Ojo noted that integrating robust financing capabilities with vehicle distribution is critical to restructuring value-building economies and supporting self-employment and enterprise growth. “This initiative will make vehicles more affordable, ownership of brand-new vehicles more convenient, and ultimately more rewarding. We are in the middle of something truly important,” he added.
Under the terms of the agreement, Access Bank will provide dedicated vehicle financing solutions to its customers purchasing from Elizade JAC Autoland, with a down payment requirement of as low as 10 percent and repayment tenors of up to 48 months at competitive, below-market interest rates.
Chizoba Iheme, Group Head, Products & Segments at Access Bank, highlighted just how customer-centric the structure has been designed to be. “From the moment a buyer indicates interest, we are targeting a turnaround time of not more than 72 hours,” she stated. “Our goal is to remove bottlenecks and create a seamless financing experience.” She further noted that eligibility requirements have been simplified, with equity contributions starting from 10 percent and repayment tenures extending up to 48 months, adding, “We are committed to ensuring customers get what they need quickly and efficiently. That is our promise.”
Arinze Kenechukwu Osuachala, Head, SME Lagos & South West at Access Bank, described the collaboration as far more than a transactional arrangement. “This partnership represents the strength of Access Bank’s services both individually and through our broader network,” he said. “It is more than just financing; it is a gateway to greater opportunity for individuals and businesses.” Addressing concerns around Nigeria’s challenging financial landscape, he explained that the partnership was intentionally structured to lower barriers. “We are designing this partnership to ensure vehicle finance is fully integrated and accessible. The interest rates are below today’s market rates, and the equity contribution required is about 10 percent. These structural elements are in place to make mobility more accessible for everyone.”
When pressed by the media on whether Elizade JAC Autoland can realistically match the enormous scale of demand that Access Bank’s millions of customers would generate, Arvind Bhardwaj, Chief Operating Officer of Elizade JAC Autoland Limited, was unequivocal in his confidence. “As demand increases, we are ready to deploy a broad range of affordable automobile products to serve customers across Nigeria,” he said. “We will continue to manage and expand our import capacity strategically to match growing nationwide demand. At the same time, we are prepared to scale supply and strengthen financing support to drive higher sales and sustainable growth.”
The Access Bank partnership is the latest in a series of strategic banking collaborations Elizade JAC Autoland has pursued to drive vehicle ownership across Nigeria. Earlier in February 2025, the company formalised a similar arrangement with Sterling Bank Plc, providing customers with access to structured vehicle financing solutions, flexible repayment tenors of up to four years, and dedicated support throughout the purchase process.
Under that deal, Sterling Bank customers also received a 10 percent discount on vehicles purchased through the scheme, and the bank noted that many existing customers may already qualify without requiring a fresh credit review.
