Nosa Aituamen
The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, says sound financial management is essential for the growth and sustainability of Nigeria’s aviation industry.
The minister who made the remarks in Lagos during the inauguration of the Institute of Chartered Accountants of Nigeria, ICAN Aviation Chapter, described the chapter as a vital bridge between technical operations and financial accountability in the sector.
The ICAN Aviation Chapter launched under the theme “Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards”, aims to enhance financial governance and accountability across the aviation value chain.
According to the minister, this initiative aligns with the Ministry’s reform agenda and is a timely step in addressing financial challenges facing the industry.
The minister represented by the Director, Special Duties Federal Airports Authority of Nigeria, FAAN, Mr. Henry Agbebire, commended the pioneer Chairman and his executive team for their passion and readiness to lead, assuring them of the Ministry’s support as they work towards a stronger, more accountable aviation sector in Nigeria.
“I am confident that the programs, advocacy, and thought leadership to be rolled out by this chapter will further bridge the gap between technical operations and financial stewardship”.
Also speaking at the event, ICAN President, Chief Davidson Alaribe, called on members of the new chapter to uphold professionalism and financial integrity.
“As guidance of financial integrity, we are entrusted with upholding the highest standards and providing insightful guidance”.
Chairman of the occasion, Mr. Nelson Wilbert, stressed the need for international standards to foster investor confidence and good governance.
He cautioned that while compliance is essential, the pursuit of excellence demands a continuous evolution of these standards to address emerging challenges like climate change, digital currencies, and ethical AI.
“Financial strategy is not just about balancing budgets or cutting costs; it is about value creation. In an era marked by geopolitical shocks, economic uncertainties, climate change mandates, and evolving passenger expectations, financial strategy and decisions must align with broader institutional objectives and a higher purpose”.
In his acceptance speech, the pioneer chairman of the ICAN Aviation Chapter, Mr. Ayodele Olatiregun, pledged to uphold the chapter’s core values, professional excellence, strategic collaboration, and sustainable systems.
He promised the chapter would work tirelessly to elevate the profession, contribute to the industry’s success and leave a legacy for future generations.
“Our vision is clear: to become the go-to body for financial insight and integrity in aviation, in Nigeria, across Africa, and globally. The aviation industry is a critical engine of economic growth and connectivity. As accountants, we play a vital role in ensuring its financial health and stability”.
Highlights of the ceremony included the formal inauguration of the chapter, the investiture of the chairman the swearing-in of executive members and the cutting of the inauguration cake.