Access Bank Plc has appointed Tajudeen Shobayo as its new Vice Chairman, marking a significant shift in the Nigerian lender's boardroom composition.
The appointment follows the retirement of outgoing Vice Chairman Fanimokun, who stepped down from the role earlier this week.
The program allows customers to acquire cars with a deposit of just 10% of the purchase price, reflecting the bank's strategy to capture market share in the auto-loan segment despite macroeconomic headwinds.
Shobayo, a prominent figure in Nigeria's financial sector, brings extensive experience in banking and corporate governance to the position, signaling the bank's intent to maintain strategic continuity during a period of economic transition.
The leadership change arrives at a critical juncture for Access Bank, which has been aggressively expanding its consumer finance offerings.
The bank recently launched AutoFest, a vehicle financing initiative designed to lower barriers to car ownership for Nigerian consumers amid high vehicle prices and a tightening economic environment.
The program allows customers to acquire cars with a deposit of just 10% of the purchase price, reflecting the bank's strategy to capture market share in the auto-loan segment despite macroeconomic headwinds.