The Aviation Chapter of the Institute of Chartered Accountants of Nigeria (ICAN) has set its sights on deepening financial governance and accountability across Nigeria’s aviation sector, as it prepares to mark its first anniversary with the launch of a N500 million endowment fund.

Chapter Chairman, Ayodele Olatiregun, in a statement by the Chairman, Anniversary Planning Committee, Rita Akpan, described the journey of the one-year-old body as both challenging and rewarding.

Olatiregun noted that the initiative was conceived to address the unique financial management needs of the aviation industry.

The first anniversary would feature discussions on the theme: “Digital Transformation, Professional Excellence and Financial Governance in Nigeria’s Aviation Industry.”

Olatiregun said the theme emphasises the increasing importance of digitisation, transparency and continuous professional development, particularly in government-driven sectors like aviation.

He expressed optimism that the chapter would help position Nigeria’s aviation industry as a model for financial discipline, while fostering stronger collaboration between public institutions and private stakeholders.

Formally inaugurated on April 22, 2025, the ICAN Aviation Chapter has grown to include over 137 members drawn from key aviation agencies and private sector operators.

These include the Federal Airports Authority of Nigeria (FAAN), Nigerian Airspace Management Agency (NAMA), Nigeria Civil Aviation Authority (NCAA), Nigerian Meteorological Agency (NiMet), Nigerian Safety Investigation Bureau (NSIB), Nigerian College of Aviation Technology (NCAT), as well as ground handling firms and airlines.

Olatiregun said the formation of the chapter aligned with ICAN’s shift towards industry-based groupings, designed to enable professionals within specific sectors to collaborate, share expertise and tackle sector-specific challenges.

According to him, the chapter serves as a platform to promote excellence in aviation finance, strengthen transparency and improve accountability across both public and private institutions within the industry.

Despite its early successes, Olatiregun acknowledged that the chapter faced initial hurdles, particularly in funding and sustaining member engagement as a not-for-profit organisation.

He, however, credited the commitment of members and the executive team for helping to build a solid foundation within a short period.

Beyond professional networking, the chapter has also prioritised social impact, he said.

Through outreach programmes in secondary schools, the chairman said the chapter has introduced students to career opportunities in accounting and aviation finance, while also providing mentorship and educational materials.

In addition, he explained that the chapter has hosted technical sessions and professional development programmes aimed at enhancing members’ competencies in line with global best practices.

Olatiregun maintained that the planned N500 million endowment fund would provide a sustainable financial base for the chapter’s activities.

Part of the fund, he stated, would be invested to generate returns, while also supporting the development of infrastructure such as a permanent secretariat and a knowledge centre equipped with digital and physical learning resources.

Activities lined up for the anniversary celebration would run from April 16 to 22. The programme would begin with a health walk and wellness session, followed by an inter-school debate in Lagos on the role of aviation in national development.