RESTRICTED Headquarters Nigerian Air Force Ministry of Defence PMB 244 Area 7 Garki Reference: NAF/547/COA Abuja Tel/Fax: Website: www. rigerianairforce.net E-mail: info@airforce.mil.ng See Distribution JJoet21 VEHICLE ACQUISITION SCHEME FOR NAF OFFICERS Reference: A. NAF/547/COA dated 15 Oct 21 1. The CAS has approved a vehicle acquisition scheme for NAF personnel. The scheme consists of a joint agreement between Innoson Vehicles Manufacturing Company Limited, Polaris Bank and NAF. The Company is offering the vehicle at a discounted rate while the Bank would provide the funding and NAF personnel who subscribed would pay up within a period of 4 years at an interest rate of 16 percent as well as a comprehensive insurance cover of 2 percent annually. Detail of the various brands of vehicles as well as the financial implications is attached as Enclosure 2 while sample of expression of interest form is attached as Enclosure 3. 2 In view of the above, action addressees are requested to info their personnel and forward names of interested personnel indicating the type of vehicle opted for to HQ NAF (COA) for processing. Grateful treat as important. TY MUHAMMAD AVM for CAS Enclosures: 1. Copy of Reference A. 2. Details of Vehicles and Financial Implications. 3. Sample of Expression of Interest form 1 RESTRICTEDRESTRICTED Distribution: External: Action: List B-1 Internal: Information: AA-CAS AA-COA File ‘Ky RESTRICTEDRESTRICTED OFFICE OF THE CHIEF O HEADQUARTERS NIGERIAN AIR FORCE 23. Memorandum From: COA Ext: 1000 Ref. NAF/547/COA Oct 21 Subject! PROPOSAL FOR VEHICLE ACQUISITION SCHEME FOR NAF OFFICERS NCL To: CAS 1, _ Possession of a reliable means of transportation to work place does not only ensure that an employee gets to work on time but also serves as a means to motivate him. However, since the suspension of the Federal Goverment Vehicle Acquisition Financing Scheme, it has become very difficult for public servants in Nigeria including NAF personnel to acquire personal cars. Currently, most personnel rely heavily on either individual servings or loans from cooperative financial institutions to procure vehicle for their own use. The financial limit usually provided by these cooperatives is often time not adequate to afford brand new car. Consequently, NAF personne! are compelled to resort to fairly used cars which are not durable and are also maintained at exorbitant cost. 2. The Admin Branch in a bid to actualize one of the key drivers of the CAS Vision which bothers on boosting morale by improving personnel welfare, is proposing an alternative Vehicle Acquisition Scheme for NAF Personnel. The Scheme is a tripartite collaboration between a facilitator, financial institution and an indigenous vehicle manufacturing factory. While the facilitator approaches the financial institution (back) to secure funding, the bank will oblige by providing the needed funding and the vehicle manufacturing factory will supply the vehicle at an agreed repayment plant affordable to NAF personnel over a given period 3. So far, the Admin Branch has reached an agreement with Mr Yashim Kajang and the latter has already facilitated funding arrangement to be provided by Polaris Bank Plc (Enclosure 1). Messrs Innoson Motors on the other hand is ready to provide vehicles of 6 different brands (Enclosure 2) for the take off of the scheme. Furthermore, the Company through its Chairman has also agreed to offer the vehicles at a discounted rate to the NAF. Polaris Bank on its part has not only agree to the arrangement but has provided a 1 RESTRICTED a IINISTRATIONRESTRICTED repayment plan up to a period of 4 years at an interest rate of 16 percent as well as a comprehensive insurance cover of 2 percent annually. The details of vehicles and financial implications are attached as Enclosure 3. The sample of expression of interest form is attached as Enclosure 4. 4. In view of the foregoing, the CAS is kindly requested to a. Approve the proposed Vehicle Acquisition Scheme for NAF interested officers in collaboration with Innoson Vehicle Manufacturing Company Limited. b. Direct COA to request units to forward names of interested subscribers to HQ NAF ¢. Direct the CAB to examine the financial aspect of the proposed scheme Enclosures, 1. Confirmation of Banking Relationship with Polaris Bank Plc by Chief Innocent Chukwuma Chairman Innoson Vehicles Manufacturing Company Limited 2. Poster carrying different Brands of the Vehicles. 3. __ Submission of final Price List for the Purchase and Supply of Cars to Nigerian Air Force for a Car Soft Loan of Five Years. 4. Sample of Expression of Interest Form Rank: AVM Name: |Y MUHAMMAD _ Signature.t4#4+L—_~ = RESTRICTEDL Aoclosu AI a GLOBAL COMPANY LTD CS £2, ML Eegoma Stet, Pass | pelo Army Este, ua 5 Feaaa ogra Tok oes #808094 TUS S428 ©) | September, 2021 The Chief of Administéation, Headquarters Nigeria Airforce Garki Area 7, Abuja Dear Sir SUBMISSION OF FINAL PRICE LIST FOR THE PURCHASE AND SUPPLY OF CARS TO NIGERIA AIR FORCE FORA CAR SOFT LOAN OF FIVE YEARS ‘The Madai Global Company Limited present its compliment to the Chief of Administration Nigerian Air Force. Having conducted inspection of the brand of vehicles at the Innoson Corporate Headquarters Abuja and a follow-up visitation of the motor factory atNnewi, Anambra State, ! wish to humbly forward the attached updated price list for the NAF Vehicle Acquisition Scheme prepared by the Polaris Bank PLC. The attachment comprises of both the 10% contribution and the non-contribution. While thanking you for your support and understanding, please accept my —\ assurances and esteemed regards. c Thanks. Yours Faithfully,10% CONTRIBUTION 1 = a E Is CAR BRAND : 4 1 VALUE | 4)500,000.00 | 7,000,000.00 CONTRIBUTION @10% 450,000.00 700,000.00 | et Biwi. MANAGEMENT FEE @1% (ONE OFF) 40,500.00 45,000.00 63,000.00 INSURANCE @2% JANNUALLY 930,000.00] _100,000.00| _ 140,000.00 INSURANCE @2% FOR ISYRS 450,000.00 500,000.00 700,000.00.76,500.00 126,000.00 126,000.00 170,000.00 200,000.00 280,000.00 280,000.00 850,000.00 1,000,000.00 1,400,000.00 1,400,000.001,500,000.00 1,500,000.00 $350,000.00 | 33,500) ic tie 13,500 09.00 Ebscasl 135,000.00 135,000.00 139,500.00 153,000.00 300,000.00 300,000.00 310,000.00 340,000.00 1,500,000.00 1,500,000.00 1, }00.00 1,700,000.002,200,000.00 5,500,000.00 19,800,000.00 198,000.00 495,000.00 440,000.00 1,100,000.00 5,500,000.00NOCONTRIBUTION | El | INT CONGR VM SIART:§ -NMICARH ‘CAR BRAND (45M) (sm) tam) VALUE 4,500,000,00| _5,000,000.00 | _7,000,000.00 MANAGEMENT FEE @1% (ONE OFF) 45,000.00] __$0,000.00| _79,000.00 INSURANCE @2% ANNUALLY 30,000.00 | 100,000.00 | __ 140,000.00 INSURANCE @2%FOR syRs 450,000,00| _$00,000.00 | _ 700,000.00 MONTHLY PAYMENT 705,431.26 | 121,590.29 | 170,226.405| 4] ae 5 AS gat aoe dS 110,000,000.00 | _14,000,000.00 | 14,000,000.00 15,000,000,00) 100,000.00 | _140,000.00 140,000.00 150,000.00 200,000.00 | __ 280,000.00 280,000.00 300,000.00 1,000,000.00 | _1,400,000.00 | __ 1,400,000.00 1,500,000.00 243,18057| 340,452.80) 340,452.80 364,770.86,8] 3] 10] 11) IVM CAPA ivM Gao IVM G80 WAGON (25.5M)__| WAG st (55M) i 15,500,000.00 | _17,000,000. 1000.00 | _55,000,000.00 155,000.00 170,000.00 220,000.00 550,000.00 310,000.00 340,000.00] __440,000.00 1,100,000.00 1,550,000.00 1,700,000.00 | _2,200,000.00| _5,500,000.00 376,929.89 534,997.26 | 1,337,493.14 |BodSure 3B ADM/001 MADAI GLOBAL COMPANY MAD A In Conjunction with the ¥ NAVAL Nigerian Air Force 5,000 EXPRESSION OF INTEREST FORM Officer's Name:. Applcont’s Passport Photo Present Unit: (Un Uniform) NAF Number... Officer Address:.... Permanent Addres: Phone No: Pay Point... Are you currently servicing any loan? Yes/No Next of Kin Name: Address of Next of Kin: WHEREAS, L.ssssnesssenoe a) ee AS a reason of credit sale 0 ME OF sn Vehicle I hereby agree to be paying... Monthly until the Final Liquidation of the debt of ...... ta ‘owned the said Signature... - Date, COST PER VEHICLE | MONTHLY DEDUCTION | DURATION OF DEDUCTION. ‘This section is to be completed by the Account and Budget in charge of the Applicant's Salary. Le ull NaMeS...cns Unit. 2. Rank. ei wir Force (Salary) Unit... 1 confirm that the applicant's details above are correct. I therefore endorse it for approval. Signature of Unit Finance Officer... ast woDate. {All forms should be obtained from the office of the Director of Administration HQ NAF Abuja.