Stanbic IBTC Bank, LOXEA BYD Forge Alliance For Electric Vehicle Financing
L-R: Tosin Leye-Odeyemi, Head, Sustainability, Stanbic IBTC Holdings PLC; Olu Delano, Executive Director, Personal and Private Banking, Stanbic IBTC Bank; Funmi Abiola, Head, Marketing and Communication, CFAO Mobility; Mehdi Slimani, Managing Director, LOXEA Nigeria (BYD); and Taiwo Ala, Head, Products, Stanbic IBTC Bank, during the launch of their partnership to finance sustainable BYD electric and hybrid vehicles, recently held at the BYD showroom, Victoria Island, Lagos, Nigeria.
In a strategic move to advance Nigeria’s shift toward sustainable transportation, Stanbic IBTC Bank has announced a partnership with LOXEA Nigeria, the exclusive distributor of BYD electric and hybrid vehicles in Nigeria and a subsidiary of CFAO Mobility. 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.
For more information on electric vehicle financing, please visit www.stanbicibtcbank.com, send an email to StanbicNigeria-VAF@stanbicibtc.com or visit your nearest Stanbic IBTC Bank branch.
