ICAN gets Minister’s nod to help improve financial ethics in aviation sector
…FAAN’s Director, Olatiregun said Aviation Chapter ready for action
Minister of Aviation and Aerospace Development, Mr. Festus Keyamo has backed plans by the Institute of Chartered Accountants of Nigeria (ICAN) to initiate discipline and ethical standards in the financial management and operations in the country’s aviation industry.
Mr. Keyamo lauded ICAN for its activities in manpower development and training affirming that the decision to establish an aviation chapter is a catalyst for improved financial discipline and sustainable growth across the entire aviation value chain.
Speaking at the inauguration of ICAN Aviation Chapter and the investiture of Mr. Ayodele Olatiregun, the Director of Finance and Accounts of the Federal Airports Authority of Nigeria (FAAN), as the Pioneer Chairman, the Minister harped on the synergy between aviation and financial discipline for the sustainable growth of the industry.
The Minister, who was represented by FAAN’s Director for Special Duties, Mr. Henry Agbebire affirmed that he the noble initiative, which he said aligns with the federal government reform agenda in the sector, adding that it will foster professional excellence, encourage strategic collaboration, and champion ethical standards.
He said “The ICAN Aviation Chapter is poised to serve as a catalyst for improved financial discipline and sustainable growth across the entire aviation value chain.
“The synergy between aviation and finance cannot be overstated. From infrastructure development to operational sustainability, sound financial management is the engine that powers progress.
“I am confident that the programs, advocacy, and thought leadership to be rolled out by this chapter will further bridge the gap between technical operations and financial stewardship,” Keyamo told the audience.
Whilst he commended the pioneer Chairman, Mr. Ayodele Olatiregun and his executive team, the Minister assured them of the ministry’s support in the collectively work towards a stronger, more accountable aviation sector in Nigeria.
Speaking on the theme: “Flight path to Financial Excellence: Integrating Strategy, Systems, and Standards.”, Guest Speaker at the occasion, Mr. Nelson Wilbert likened financial excellence to practices in the industry, saying that in aviation, a flight path is more than a route, it is a mission.
He said “It is the invisible yet vital corridor that ensures every aircraft reaches its intended destination, safely, efficiently, and on time, demanding precision, adaptability, and an unwavering focus.
“Similarly, financial excellence in our airports and aviation institutions is not a passive exercise; it is a mission-driven pursuit that requires a deliberate and well-coordinated path, guided by strategy, powered by systems, and governed by standards.
According to him “Putting this differently, it requires strategy that anticipates, systems that empower, and standards that endure.” and further said “in an era marked by geopolitical shocks, economic uncertainties, climate change mandates, and evolving passenger expectations, financial strategy and decisions must align with broader institutional objectives and a higher purpose.
“Whether it is achieving net-zero carbon emissions, expanding infrastructure, or increasing non-aeronautical revenue, our financial strategy must be visionary, flexible, and rooted in stakeholder priorities.”
According to the Guest Speaker, “An effective financial strategy considers both the present and the future. It emphasises capital efficiency, demand-driven investments, data-backed planning, and a performance culture that links financial goals with operational outcomes.”
While admonishing the new chapter on financial discipline measures, he urged the integration of strategy, systems, and standards as a continuous journey that required strong leadership, cross-functional collaboration, periodic review, and an unwavering commitment to excellence.
“The Financial excellence is not achieved by chance; it is the result of daily discipline, future-focused thinking, and systemic alignment. This Chapter is more than a professional network, it is a coalition of change makers, as chartered accountants, you are the stewards of financial integrity.”
Also speaking, ICAN’s 60th Diamond President, Chief Davidson Alaribe charged the new team to ensure continuous training for its members and urged them to scout for new ones adding that ICAN recognises the pivotal role the aviation sector contributes Nigeria’s Gross Domestic Product.
The ICAN President said “This leadership should empower our members with the requisite tools and knowledge to consistently generate significant financial impact and contribute to the evaluative prosperity of the aviation sector.
“I want to assure you all the necessary and continual support of the ICAN Council for the activities and programs of this new chapter. I continue to support you in your training programmes,” he said.
The Aviation Chapter Pioneer Chairman, Mr. Ayodele Olatiregun disclosed that he and his executive will harp on the pillars of professional excellence, strategic collaboration and sustainable systems in order to ensure the chapter make gains in the industry adding that without strategic clarity, no organisation could truly soar high.
He said “hence, the airport and aviation space must align financial strategies with operational goals, infrastructure, development, safety sustainability among others. Our vision is clear, to become the go-to-body for financial insight and integrity in aviation in Nigeria, Africa and globally.
According to Olatiregun, “The aviation industry is a critical engine of economic growth and connectivity, as accountants, we play a vital role in ensuring it’s financial health and stability.”
The FAAN Director thanked the Managing Director of FAAN, Mrs. Olubunmi Kuku for her leadership and for being a stickler to Professionalism and further announced the immediate establishment of an active Society of Women Accountants of Nigeria (SWAN) within the aviation chapter.
