KIA, Access Bank launch special finance scheme for vehicle ownership 

KIA Motors Nigeria in partnership with Access Bank Plc has unveiled a new finance scheme designed to increase vehicle ownership and affordability in the country.

The deal, according to a statement by the auto firm, offers flexible and affordable financing alternatives, enabling individuals, women, and businesses to own cars with ease.

The scheme features the all-new Kia Rio 2023, with repayment plans spanning five to seven years.

Marketing Manager, KIA Motors Nigeria, Omolade Akinyode, said, ”Dana Motors has been at the forefront of Nigeria’s automotive industry since 2002, providing exceptional automotive solutions and presently leading the charge for luxury electric cars, CNG cars and buses.

“Our partnership with Access Bank reinforces our commitment to supporting Nigeria’s economic growth, individuals, and women.”

She also said, ”Our core competitive edge in the auto industry is the offering of best in class vehicles at affordable prices and this retail financing scheme is a significant step towards promoting vehicle ownership in Nigeria.

”With a flexible repayment option of up to 48 months, equity contribution as low as 10% and over N6m discount and we are proud to be at the forefront of this initiative to make owning the all-new Kia Rio 2023 a dream come through for our Nigerian Customers.”

KIA stated that the car in the package, Rio 2023, is an award winning five-seater sedan, a fun car with a reputation for durability, reliability, comfort and fuel efficiency.

With safety features which include stability control, traction control, and multiple airbags, the all new KIA Rio 2023 is an excellent choice for customers who prioritize dependability in vehicle options,” it stated.

NADDC DG hails Kojo Motors for establishing CNG conversion centre in Owerri

Kojo Motors has partnered the National Automotive Design and Development Council (NADDC) in setting up the vehicle Compressed Natural Gas conversion centre in Owerri, lmo State.

Director-General of the NADDC, Joseph Osanipin, during an empowerment and awareness summit on Wednesday, March 19, 2025, commended the auto firm for the monumental project.

“Today, we are gathered here for Compressed Natural Gas (CNG) Empowerment and Awareness Summit 2025 with the theme ‘Building a youth-based nation through cleaner energy’,” he said.

Osanipin said that the the purpose of the summit was to create awareness and sensitize the public to safety, standards and regulation in the use of the CNG as a better alternative source of energy for mobility.

NADDC, he said, was equipping technicians with the knowledge, skills and competencies required to safely and efficiently convert vehicles to run on CNG.

“The Council is a parastatal of the Federal Government under the Federal Ministry of Industry, Trade and Investment,” he added.

“It has the regulatory oversight on the Nigerian Automotive Industry to initiate, recommend, supervise and regulate policies and programmes for locally manufactured vehicles and components in Nigeria.

The NADDC boss noted that the Council had worked tirelessly to ensure the survival and growth of this sector with a view to enhancing its contribution to the national economy.

As part of the CNG conversion programme, 60 technicians will be receiving hands-on training in converting vehicles to run on CNG which would run for five days from the March 17 to 21,2025.

Osanipin emphasized the importance of using certified conversion kits and specialized workshops to ensure safety during the process.

“The cylinders used in CNG vehicles are fortified, making them safer than traditional vehicle fuel tanks,” he said.

Also speaking during the event, Professor Anoka Njan, representative of the Minister of Industry Trade and Investment, praised the NADDC and Kojo Motors efforts, stating that the ministry fully supported the initiative as part of broader efforts to alleviate challenges in the auto industry and empower the youth.

Imo State Commissioner for Youth Development, Dr. Emeka Mandela Ukaegbu, who spoke at the summit on behalf of Governor Hope Uzodinma, emphasised the immense potential of the CNG in easing Nigeria’s transportation challenges and improving the economy.

“CNG offers a safer, cleaner, and cheaper alternative to the hardships many face in the country,” Dr. Madela said.

The administration is partnering with NADDC and automotive industry bodies to establish conversion workshops and CNG refilling stations across Imo State, ensuring that the state plays a key role in this important shift toward greener energy solutions.

The event marks a significant step in NADDC’s ongoing efforts to transform Nigeria’s automotive industry, making it more sustainable while creating new opportunities for skilled technicians and local communities.

Chinedu Oguegbu, Managing Director of OMAA, which is the vehicle brand promoting the petrol-powered to CNG conversion project, highlighted the economic benefits of running vehicles on CNG instead of petrol.

He listed the economic advantages to include savings up to 60 percent in the cost of fuel relative to dirtier options like diesel and petrol.

According to him, there is up to 90 percent reduction in knocks and carbon emission, and it is found to be healthier, cleaner and more environmentally friendly.

Besides savings in foreign exchange (FX) with abundance of gas locally, there is also massive resources in-country over 203 tcf of proven reserves that requires no refining and relatively lower investment for processing.

Nigeria has an estimated 15-20 million vehicles in operation that can be converted to dual-fuel or bi-fuel.

The OMAA boss reiterated the crucial need to provide an alternative to existing fuel system with the abundance of CNG as an option.

Delivering his goodwill message, Chino Ogwumike, the National Sales Manager at Kojo Motors, thanked the DG of NADDC for partnering with Kojo in this laudable project in Owerri, the heartland of the South-East of Nigeria and the government of Imo State for accepting to provide the land for building the CNG hub in the state capital.

Ogwumike stated that the flourishing automotive dealership with branches spread across the country under the visionary leadership of the founder and Executive Chairman, Ikenna Oguegbu, is strongly committed to contributing its quota towards the progress and development of Nigeria’s automotive sector and the economy.

Binance delists five cryptocurrencies

Binance, the world’s largest cryptocurrency exchange, has announced the delisting of five digital assets after a routine review of their adherence to industry standards.

According to a statement released by Binance, the affected cryptocurrencies include Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA).

The decision was based on several key factors, including trading volume, security, liquidity, the commitment of project teams, and compliance with regulatory requirements.

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The company said this step, aimed at maintaining a robust and transparent trading environment, shows Binance’s commitment to ensuring that all listed assets align with the platform’s evolving criteria.

“These projects no longer meet the platform’s listing requirements,” Binance noted in its internal review. As a result, these tokens will be removed from all spot trading pairs starting March 28, 2025, at 3:00 a.m. UTC.

The exchange has advised users holding these assets to take appropriate steps to manage their portfolios ahead of the delisting deadline.

Key delisting details and user guidelines 

Binance provided additional clarity on how the delisting process will impact its users:

• Binance Futures: Positions for AERGO, LINA, and COMBO will be automatically closed and settled by March 27, 2025, at 9:00 a.m. UTC.
• Binance Simple Earn & Investment Products: The affected tokens will no longer be available across these services after March 27, 2025.
• Binance Convert & Trading Bots: Support for the delisted tokens will cease by March 28, 2025.

Binance also mentioned that in some instances, delisted tokens might be converted into stablecoins on behalf of users after delivery. However, the exchange clarified that this would only apply if explicitly announced.

Looking ahead, Binance revealed plans to launch a Vote to Delist feature, enabling the public to suggest assets for delisting in the future. However, the tokens mentioned in this announcement will not be eligible for the feature.

Binance delists five cryptocurrencies