. Stakeholders launch N500 million endowment fund to secure aviation finance professionalism

 

Stakeholders launch N500 million endowment fund to secure aviation finance professionalism 

Stakeholders in the aviation sector have launched a N500 million endowment fund to secure the future of aviation finance professionalism.

The launch was part of the digital  transformation , which took centre stage as catalyst for revenue optimisation in Nigeria's aviation sector as the Institute of Chartered Accountants of Nigeria ( ICAN) Aviation chapter marked its first anniversary.

Chairman of the occasion, Amb. Comfort Eyitayo, described the Chapter’s one-year milestone as a clear sign of purpose and growing influence, stressing that the intersection of aviation and accounting demands precision, accountability and strict adherence to standards. 

Speaking on the theme: "Digital transformation as a catalyst for revenue optimisation in Nigeria's aviation sector", she noted that digitalization is no longer optional but central to modern aviation operations, urging professionals not just to adapt, but to lead the transformation shaping financial systems, safety management and overall efficiency.

That urgency was echoed throughout the event, as industry experts, Alhaji Shakiru Balogun and ICAN Aviation Vice Chairman, Dr. Bilyaminu Tijani warned that slow adoption of technology continues to expose the sector to revenue leakages, weak transparency and reduced global competitiveness. 

They argued that automating transactions from ticketing to revenue collection would significantly strengthen accountability, block financial loopholes and improve operational performance across the aviation ecosystem.

Chairman of the ICAN Aviation Chapter, Ayodele Olatiregun, said the industry must move decisively from manual processes to fully digital systems in line with global best practices, noting that finance remains at the heart of aviation operations. 

He explained that accurate, technology-driven payment and accounting systems are critical to optimising revenue and sustaining growth, adding that growing participation in the Chapter’s digital training programmes reflects rising industry demand for reform.

The highlight of the event was the formal launch of the N500 million endowment fund, described by stakeholders as a strategic investment in the long-term sustainability of aviation finance and governance in Nigeria. 

Olatiregun said the fund would serve as a permanent financial base to support capacity building, research, scholarships and the development of specialised aviation finance expertise, while reducing reliance on irregular funding.

Planning Committee Chairman, Rita Akpan, noted that the endowment represents a deliberate shift from short-term achievements to building enduring institutional structures. 

She said the initiative would deepen professional excellence, strengthen governance systems and equip industry players with the skills required to navigate an increasingly digital and complex aviation environment.

Other speakers like John Italume linked digital transformation directly to improved revenue generation, emphasizing that technologies such as automation and data analytics can significantly enhance productivity, decision-making and financial tracking. 

They warned that failure to fully embrace innovation could cost Nigeria valuable economic opportunities, even as ongoing reforms and training initiatives begin to close the gap with global standards.

The celebration, which drew key players from across aviation and finance, culminated in the ceremonial cutting of the anniversary cake, and presentation of awards to deserving individuals and organizations, symbolising a year of progress and a renewed commitment to building a more transparent, efficient and technology-driven aviation industry.