The Acting Director General (ADGCA) of the Nigerian Civil Aviation Authority (NCAA), Captain Chris Najomo has vowed that the potential of the Cape Town Convention, agreements and the aircraft protocol will be fully implemented to strengthen the aviation sector in the country.
Najomo made this known in an opening remarks at a one day conference themed: ‘Conference on Convention on International Interests in Mobile Equipment and the Protocol on Matters Specific to Aircraft Equipment’ held at the Transcorp Hotel in Abuja.
He stated that the CTC offers immense opportunities in enhancing aviation financing, safeguarding creditor rights, and fostering a more predictable and sustainable legal environment for the country’s industry.
Najomo said “The theme of this conference underscores the importance of the Cape Town Convention and its Aircraft Protocol as essential instruments for promoting growth, stability, and resilience in the aviation industry.”
The NCAA DG who commended the vision of the President Ahmed Bola Tinubu and the Ministerp of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, for their visionary leadership and steadfast commitment to the growth of the sector, added that Tinubu’s Renewed Hope Agenda prioritizes economic development, innovation, and global competitiveness.
“The Cape Town Convention aligns seamlessly with this agenda, offering a pathway to modernizing our aviation sector and ensuring its contribution to Nigeria’s prosperity. Nigeria’s aviation sector holds great potential for driving economic transformation, connecting communities, and promoting regional integration. The benefits of these efforts are already evident. Nigeria’s improved ranking on the Aviation Working Group’s Cape Town Convention Compliance Index is a testament to our progress,” Najomo said.
Outlining the key objectives of the Cape Town Convention, the Director General said it will
“Streamlined aircraft transactions and facilitates assets based financing: simplifies the process of buying, selling, and leasing aircraft on an international scale. By protecting creditors’ rights and ensuring the enforceability of interests in mobile equipment, the Convention encourages investment and reduces the cost of financing.
“Improves Legal consistency and International Registry: The Convention establishes a centralized electronic registry for registering interests, offering transparency and public notice. It also harmonizes the treatment of security interests across participating nations, further ensuring repossession and recovery rights for lessors and lenders in case of defaults.
“Promotes Industry Standards: Aligns national regulations with global best practices, supporting the aviation industry’s growth and stability. fostering confidence among international investors and financiers.”
The Director General who reiterated NCAA’s commitment to implementing the Cape Town Convention to its fullest potential, said, to support the Minister’s efforts recalled that NCAA had issued an Advisory Circular dated October 16, 2024 to provide information and guidance on the civil aviation regulatory requirements and procedures for recording and cancelation of de-registration of aircraft and exporting aircraft, including aircraft objects located in Nigeria, for purposes of any export remedies.
He added, “As we embark on these discussions, let us remain focused on our shared vision of excellence. Together, we can build a resilient, competitive, and globally recognized aviation sector that reflects the aspirations of our Great Nation, Nigeria.”
