In a strategic move to strengthen financial accountability within Nigeria’s aviation industry, the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, has emphasized the importance of sound financial management for the sector’s growth and sustainability.
Speaking in Lagos at the official inauguration of the Institute of Chartered Accountants of Nigeria (ICAN) Aviation Chapter, Keyamo described the new chapter as a crucial link between technical operations and financial governance in the country’s aviation ecosystem. The event, themed “Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards”, marks a significant milestone in the sector’s drive toward financial transparency and global best practices.
Represented by Mr. Henry Agbebire, Director of Special Duties at the Federal Airports Authority of Nigeria (FAAN), the minister commended the leadership of the newly established chapter for their vision and readiness to advance financial integrity in the aviation industry. He assured stakeholders of the Ministry’s full support in ensuring the initiative’s long-term success.
“I am confident that the programs, advocacy initiatives, and thought leadership from this chapter will help bridge the existing gap between technical operations and financial stewardship,” Keyamo said.
Also addressing attendees, ICAN President, Chief Davidson Alaribe, urged members of the aviation chapter to maintain the highest standards of professionalism and ethical financial practices. He reaffirmed ICAN’s commitment to promoting financial integrity as a core principle across industries.
The Chairman of the occasion, Mr. Nelson Wilbert, highlighted the necessity of adopting international financial reporting and governance standards to boost investor confidence and foster corporate transparency. He added that financial strategies must evolve to address modern challenges such as climate change, the rise of digital currencies, and ethical considerations surrounding artificial intelligence.
“Financial leadership today goes beyond cost control or budget balancing. It’s about creating sustainable value while navigating economic uncertainties, geopolitical shocks, and shifting passenger expectations,” Wilbert noted.
In his acceptance speech, Mr. Ayodele Olatiregun, the pioneer chairman of the ICAN Aviation Chapter, pledged to champion professionalism, collaborative partnerships, and sustainable systems within the aviation sector.
“Our vision is clear — to become the foremost authority for financial insight and integrity in Nigeria’s aviation industry, and a reference point across Africa and globally. The aviation sector is a vital engine of economic growth, and as financial professionals, we play a key role in safeguarding its future,” Olatiregun said.
The inauguration ceremony featured the official launch of the aviation chapter, the investiture of Mr. Olatiregun as chairman, the swearing-in of executive members, and a symbolic cake-cutting to commemorate the event.
This development aligns with the Ministry of Aviation’s ongoing reform agenda, aimed at improving financial governance and operational efficiency across Nigeria’s aviation industry.
