NCAA Pledges Full Implementation of Cape Town Convention to Bolster Aviation Sector
The Acting Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Chris Najomo, has reaffirmed the regulatory body’s commitment to the full implementation of the Cape Town Convention (CTC) and its Aircraft Protocol.
According to Captain Najomo, the adoption of these instruments will align Nigeria’s aviation sector with global best practices, strengthen its infrastructure, and foster a predictable and sustainable legal framework.
Captain Najomo made this declaration during 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 Hilton Hotel, Abuja.
Addressing stakeholders, the DG emphasised that the Cape Town Convention provides significant opportunities to enhance aviation financing, protect creditor rights, and establish a robust legal environment for the industry.
“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,” Captain Najomo stated.
He commended the leadership of President Bola Ahmed Tinubu and the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, SAN, for their unwavering commitment to the development of the aviation sector.
Najomo highlighted the alignment of the Cape Town Convention with the administration’s Renewed Hope Agenda, which prioritises economic development, innovation, and global competitiveness.
“The Cape Town Convention offers a pathway to modernising our aviation sector and ensuring its contribution to Nigeria’s prosperity. Our aviation sector has immense potential to drive economic transformation, connect communities, and promote regional integration,” he said.
Captain Najomo outlined the core objectives of the Cape Town Convention, stressing its transformative impact:
Streamlined Aircraft Transactions and Asset-Based Financing: The Convention simplifies the process of buying, selling, and leasing aircraft internationally. By protecting creditor rights and ensuring the enforceability of interests in mobile equipment, it reduces financing costs and encourages investment.
Improved Legal Consistency and International Registry: The CTC establishes a centralised electronic registry for interests, ensuring transparency and harmonisation of security interests across participating nations. This provides clear repossession and recovery rights for lessors and lenders in cases of default.
Promotion of Industry Standards: By aligning national regulations with global practices, the Convention fosters confidence among international investors and financiers, supporting the growth and stability of the aviation industry.
Highlighting recent achievements, Captain Najomo cited Nigeria’s improved ranking on the Aviation Working Group’s Cape Town Convention Compliance Index as evidence of the country’s progress.
To further support the Minister’s reform agenda, the NCAA issued an Advisory Circular on 16th October 2024, providing guidance on regulatory requirements for aircraft registration, deregistration, and export procedures.
“Our commitment to implementing the Cape Town Convention to its fullest potential remains unwavering,” Najomo affirmed. “Together, we can build a resilient, competitive, and globally recognised aviation sector that reflects the aspirations of our great nation, Nigeria.”
The conference concluded with calls for enhanced collaboration among stakeholders to leverage the benefits of the Cape Town Convention, ensuring its full implementation for the growth and sustainability of Nigeria’s aviation industry.
