The Aviation Chapter of the Institute of Chartered Accountants of Nigeria (ICAN) has unveiled plans to establish a N500 million endowment fund aimed at strengthening financial governance and institutional capacity within Nigeria’s aviation industry.
The initiative comes as the chapter marks its first anniversary under the leadership of its pioneer chairman, Ayodele Olatiregun, who described the past year as both challenging and rewarding.
According to a statement released on Sunday, the proposed endowment fund is designed to provide sustainable financing for the chapter’s operations and long-term development projects.
Part of the fund will be invested to generate returns, while another portion will support infrastructure development, including a permanent secretariat and a knowledge centre equipped with digital and physical learning resources.
Olatiregun said the initiative is intended to ensure long-term sustainability and deepen professional excellence within aviation finance.
“The endowment fund is a strategic initiative to ensure sustainability. It will not only support our activities but also enable us to develop facilities for training, research, and professional development,” he said.
He added that the proposed knowledge centre would serve both current and future professionals in aviation finance.
The ICAN Aviation Chapter was formally inaugurated on April 22, 2025, bringing together chartered accountants across Nigeria’s aviation ecosystem, including regulatory agencies, service providers, and private operators.
Members of the chapter include professionals from institutions such as Federal Airports Authority of Nigeria, Nigerian Airspace Management Agency, Nigerian Civil Aviation Authority, Nigerian Meteorological Agency, Nigerian Safety Investigation Bureau, and Nigerian College of Aviation Technology, among others.
Olatiregun said the diversity of membership has strengthened collaboration and knowledge-sharing among aviation finance professionals.
“Membership cuts across key aviation institutions and private operators, and this has helped us build a network of professionals who understand the financial dynamics of the industry,” he said.
Despite early progress, he acknowledged that the chapter has faced challenges, particularly in fundraising and maintaining member engagement as a non-profit organisation.
However, he said the commitment of members has helped the group establish a strong foundation within its first year of existence.
The chapter also outlined plans for outreach programmes aimed at introducing young people to careers in accounting and aviation finance, as well as supporting educational development.
Activities marking the anniversary include a health walk, inter-school debate, Jumat service, sports events, thanksgiving service, and courtesy visits to aviation institutions.
The celebration will conclude on April 22 with a gala night and fundraising event at the Adeyemi Bero Auditorium, where the endowment fund will be officially launched.
The event will also feature discussions on digital transformation, professional excellence, and financial governance in Nigeria’s aviation industry.
