Aviation Finance Excellence Takes Flight with ICAN’s New Chapter
By FAITH UGBO
Lagos, Nigeria — In a landmark development for the aviation industry, the Institute of Chartered Accountants of Nigeria (ICAN) formally inaugurated its Aviation Finance Chapter under the leadership of Ayodele Olatiregun, FCA. The establishment of this pioneering body marks a major stride toward aviation finance excellence by empowering finance professionals to navigate the sector’s complex economic environment.
Chapter Inauguration Sparks Aviation Finance Excellence Vision
At the inauguration ceremony held in Lagos, Olatiregun outlined the chapter’s mission to champion aviation finance excellence through robust financial governance, strategic collaboration, and sustainable systems. “This is not just a ceremonial event,” he emphasized. “It is the beginning of a transformative journey toward aviation finance excellence, where accountants play a pivotal role in driving sustainable growth across Nigeria’s aviation sector.”
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The Aviation Chapter is the first of its kind in West Africa, reflecting ICAN’s commitment to industry-specific professional development. Key stakeholders, including the Honourable Minister of Aviation and the Permanent Secretary, joined airlines, ground handlers, and finance experts to endorse the chapter’s vision.
Pillar One: Professional Excellence Fuels Aviation Finance Excellence
Under the banner “Flightpath to Financial Excellence,” the chapter’s first pillar—Professional Excellence—focuses on equipping members with advanced financial skills tailored to aviation. Olatiregun explained:
“We must align our financial strategies with operational goals and infrastructure investments. Achieving aviation finance excellence begins with continuous learning, ethical practices, and adherence to global accounting standards.”
Planned initiatives include specialized training on airport financing, aircraft leasing accounting, and risk management techniques—areas critical to maintaining fiscal stability in an industry often buffeted by economic volatility.
Pillar Two: Strategic Collaboration Drives Aviation Finance Excellence
The second pillar, Strategic Collaboration, underscores the importance of partnerships between finance professionals and aviation operators. Olatiregun announced a series of roundtables and joint workshops designed to foster dialogue between ICAN members, airline CFOs, regulatory authorities, and technology providers.
“By collaborating strategically, we reinforce aviation finance excellence through sharing best practices, innovative solutions, and data-driven insights,” said Olatiregun. “This approach will help mitigate financial risks and optimize resource allocation across the sector.”
These collaborative platforms will also serve as incubators for research on emerging trends such as digital payment systems, carbon-offset financing, and public–private funding models for airport expansion.
Pillar Three: Sustainable Systems Ensure Aviation Finance Excellence
Olatiregun’s third pillar—Sustainable Systems—addresses the need for resilient financial infrastructures that promote long-term sector viability. He highlighted the chapter’s commitment to implementing integrated accounting technology, blockchain-based audit trails, and environmental, social, and governance (ESG) frameworks.
“To achieve aviation finance excellence, we must embed sustainability into every financial decision,” he noted. “From green airport bonds to carbon credits, our systems must support both profitability and environmental stewardship.”
In partnership with global bodies such as Women in Aviation International, the chapter will pilot digital reporting tools that track ESG metrics vital for attracting international investment and meeting regulatory requirements.
Women in Aviation Finance: Pioneering Inclusive Excellence
In a groundbreaking move, ICAN’s Aviation Chapter launched a dedicated Society of Women Accountants of Nigeria (SWAN) subcommittee to advance gender diversity. This initiative reinforces the chapter’s goal of aviation finance excellence by promoting inclusive leadership.
“Women bring unique perspectives to aviation finance,” Olatiregun remarked. “Our SWAN subcommittee will provide mentorship, networking, and leadership development to ensure women excel in this dynamic field.”
The collaboration with Women in Aviation International will pave the way for scholarships, leadership forums, and targeted training programs to close the gender gap in aviation accounting roles.
Building a Legacy of Aviation Finance Excellence
The Aviation Chapter’s launch has already garnered widespread support. The Honourable Minister of Aviation praised ICAN for recognizing the sector’s need for specialized financial leadership. “Your focus on aviation finance excellence will strengthen our industry’s resilience and attract global investors,” the Minister remarked.
Industry partners, including major airlines and ground services firms, pledged resources and expertise to the chapter’s working groups. Together, they will develop benchmarking studies on cost-per-available-seat-kilometer (CASK), revenue-per-available-seat-kilometer (RASK), and other metrics essential for financial transparency.
Next Steps: Charting the Course for Aviation Finance Excellence
Moving forward, Ayodele Olatiregun called on ICAN members and aviation stakeholders to join the chapter’s task forces, contribute to white papers, and participate in forthcoming conferences. The goal: to position the ICAN Aviation Chapter as the definitive authority on aviation finance excellence in Africa.
“Our collective effort will not only elevate current practices but also leave a lasting legacy of robust financial governance for future generations,” Olatiregun concluded.
With its tripartite foundation of Professional Excellence, Strategic Collaboration, and Sustainable Systems, the ICAN Aviation Chapter is poised to redefine financial leadership in Nigeria’s vital aviation sector—setting a high standard for aviation finance excellence at home and abroad.
