ICAN Aviation N500m endowment fund launched to boost governance, training, and sustainability in Nigeria’s aviation finance sector

The Institute of Chartered Accountants of Nigeria (ICAN) Aviation Chapter has unveiled plans to launch a N500m endowment fund aimed at strengthening financial governance, sustainability, and institutional capacity within Nigeria’s aviation sector.

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The Endowment Fund initiative was confirmed in a statement issued on Sunday, as the chapter marks its first anniversary under the leadership of pioneer chairman Ayodele Olatiregun.

Ayodele Olatiregun described the milestone as both challenging and rewarding, noting that the chapter was established to deepen accountability and promote excellence in aviation financial management across public and private institutions.

According to the statement, the proposed fund will serve as a long-term financial base for the chapter, with part of it invested to generate returns while other portions will support infrastructure development, including a permanent secretariat and a dedicated knowledge centre.

Olatiregun explained that the knowledge centre would provide both digital and physical learning resources to support training, research, and professional development for aviation finance practitioners.

He stressed that the ICAN Aviation N500m Endowment Fund is designed to ensure sustainability and strengthen the chapter’s ability to deliver impactful programmes in the long term.

Formally inaugurated on April 22, 2025, the chapter brings together chartered accountants across the aviation value chain, including regulatory agencies, airlines, service providers, and aviation institutions.

Membership has grown steadily from 137 members, drawing professionals from organisations such as FAAN, NAMA, NCAA, NiMet, NSIB, NCAT, as well as private sector operators and travel agencies.

Olatiregun noted that this diversity has enhanced collaboration and knowledge sharing, helping to improve financial discipline and operational transparency within the sector.

Despite early progress, he acknowledged challenges in funding and member engagement, describing them as typical of a developing professional body.

He, however, praised the resilience of members and executives, saying their commitment has helped stabilise the chapter and position it for greater impact.

As part of its anniversary activities, the chapter will host a series of events including a health walk, inter-school debate, sports competitions, religious services, and institutional visits aimed at stakeholder engagement.

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The celebration will climax on April 22 with a gala night and fundraising event at the Adeyemi Bero Auditorium, where the ICAN Aviation N500m Endowment Fund will be officially launched under the theme “Digital Transformation, Professional Excellence and Financial Governance in Nigeria’s Aviation Industry.”