Minister Hails ICAN Aviation Chapter Launch as “Flightpath to Financial Excellence”

By FAITH UGBO

Lagos, Nigeria — The Honourable Minister of Aviation and Aerospace Development has extended heartfelt congratulations to the Institute of Chartered Accountants of Nigeria (ICAN) on the historic inauguration of the ICAN Aviation Chapter Executive Committee. The ceremony, held on Tuesday, April 22, 2025, at the Victoria Garden Conference and Event Centre in Ikeja, marks a significant milestone in advancing aviation finance governance across Nigeria.

“ICAN Aviation Chapter” Inauguration: A Milestone for Aviation Finance Governance

In his goodwill message, the Minister described the inauguration of the ICAN Aviation Chapter as a landmark event anchored on the theme “Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards.” He noted that the new chapter arrives at a crucial juncture, as the aviation sector grapples with macroeconomic headwinds and seeks to strengthen resilience, accountability, and transparency.

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“This milestone speaks volumes about ICAN’s enduring commitment to nation-building through sound financial governance,” the Minister declared. “The ICAN Aviation Chapter is perfectly aligned with our reform agenda, and I pledge the Ministry’s full support as we embark on this journey together.”

Chapter Objectives: Driving “Flightpath to Financial Excellence”

The Minister outlined three core objectives of the ICAN Aviation Chapter, underscoring their potential impact on the entire aviation value chain:

1. Fostering Professional Excellence
   Emphasizing the importance of specialized training and continuous learning, the chapter will equip finance professionals with cutting‑edge skills in airline financial management, airport infrastructure funding, and aviation risk assessment.
2. Encouraging Strategic Collaboration
   By forging partnerships between ICAN members, airlines, ground‑handling companies, regulators, and technology providers, the chapter aims to create a platform for sharing best practices, driving innovation, and resolving sector‑specific financial challenges.
3. Championing Ethical Standards
   High standards of integrity and transparency are essential for sustainable growth. The chapter will develop ethical guidelines, peer‑review mechanisms, and anti‑fraud initiatives to uphold trust in aviation finance.

“By championing professional excellence, strategic collaboration, and ethical standards, the ICAN Aviation Chapter is poised to serve as a catalyst for improved financial discipline and sustainable growth,” the Minister affirmed.

Synergy of Aviation and Finance: Infrastructure to Operations

The Minister highlighted the vital link between robust financial management and successful aviation operations:

“Sound financial stewardship acts as the engine that drives progress—from capital‑intensive infrastructure development such as runway expansion and terminal upgrades to daily operational sustainability. Without prudent finance, even the best technical projects cannot take off.”

He praised planned chapter initiatives, including whitepapers on airport bond markets, workshops on aircraft leasing structures, and seminars on cargo‑revenue optimization—each designed to bridge the gap between technical operations and financial strategy.

Praise for Leadership: Ayodele Olatiregun and the Pioneer Team

Special commendation was given to Mr. Ayodele Olatiregun, FCA, the pioneer Chairman of the ICAN Aviation Chapter, and his executive committee for their vision and readiness to lead:

“Your passion for elevating sector standards is inspiring. The Ministry is committed to supporting your programs, and we look forward to witnessing the positive transformation you will bring to Nigeria’s aviation industry.”

The Minister also welcomed the chapter’s plan to establish a Society of Women Accountants of Nigeria (SWAN) subcommittee, aimed at promoting gender diversity and empowering women finance professionals in aviation.

Stakeholder Endorsements: Uniting for Aviation Finance Excellence

The launch drew robust support from aviation stakeholders:

• The Honourable Minister of Aviation reiterated the federal government’s dedication to financial reforms.
• The Permanent Secretary of Aviation praised ICAN’s proactive stance on sector challenges.
• Major airlines, ground‑handling firms, and airport authorities pledged collaboration, emphasizing that improved finance practices are key to attracting investment and ensuring long‑term stability.

Industry partners specifically highlighted the chapter’s focus on ESG (Environmental, Social, Governance) reporting—critical for securing green financing and meeting global sustainability benchmarks.

Next Steps: Charting a Course for Sustainable Growth

Looking ahead, Ayodele Olatiregun urged all ICAN members and aviation finance professionals to:

• Join Working Groups: Contribute expertise to technical committees on infrastructure financing, digital audit trails, and revenue management.
• Participate in Conferences: Attend the inaugural Flightpath to Financial Excellence summit in Q3 2025 to network and share insights.
• Publish Research: Collaborate on whitepapers that explore emerging trends such as blockchain in ticketing and carbon‑credit financing for airlines.

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