ICAN aviation chapter mulls N500m endowment fund to boost research, training, others

…marks first anniversary

The Institute of Chartered Accountants of Nigeria (ICAN) Aviation Chapter plans to launch a N500 million endowment fund designed to provide sustainable funding for its activities.

Part of the fund will be invested to generate returns that can support the chapter’s operations, as well as develop facilities for training, research and professional development.

The proposed project is expected to include a permanent office and a knowledge centre with both digital and physical library resources to support future generations of aviation finance professionals.

These plans were disclosed by the Chapter in a statement where it reeled out activities to mark its first anniversary.

Ayodele Olatiregun, the pioneer chairman, reflected on the journey of the young chapter, describing the past year as both challenging and rewarding.

He reaffirmed the chapter’s commitment to strengthening financial governance within Nigeria’s aviation sector.

The ICAN Aviation Chapter was formally inaugurated in April 22, 2025, bringing together chartered accountants working across Nigeria’s aviation ecosystem.

According to Olatiregun, the chapter started with over 137 members and has continued to expand, reflecting growing interest among financial professionals in the sector.

The membership cuts across key aviation institutions including the Federal Airports Authority of Nigeria, Nigerian Airspace Management Agency, NAMA, Nigeria Civil Aviation Authority, NCAA, Nigerian Meteorological Agency, NiMet, Nigerian Safety Investigation Bureau, NSIB, and the Nigerian College of Aviation Technology, NCAT, ground handling companies such as NAHCO and SAHCO as well as private airlines and travel agencies.

Olatiregun explained that the creation of the chapter aligns with ICAN’s evolving structure that allows professionals in specific industries to form specialized groups to deepen knowledge and collaboration.

While the institute traditionally operated through geographically based district societies, the industry-focused chapters were introduced to encourage professionals working in the same sector to address unique challenges and share expertise.

For the aviation industry, he said, the chapter was conceived as a platform to promote excellence in aviation finance and improve accountability across the sector.

Reflecting on the chapter’s first year, the pioneer chairman admitted that building a new chapter has not been without difficulties.

As a not-for-profit association, mobilizing funds and sustaining member engagement posed significant hurdles.

However, he credited the dedication of the executive team and members for helping the organization overcome early challenges and establish a strong foundation within a short period.

Beyond professional networking, the chapter has also embarked on initiatives aimed at giving back to the society.

Through outreach programmes to secondary schools, members have introduced students to career opportunities in accounting and aviation finance while offering career guidance and educational support materials.

The chapter has also organized technical sessions and professional development programmes to enhance the knowledge and skills of her members.

Activities to commemorate the first anniversary will span an entire week from April 16-22, starting with a health-focused road walk and wellness session.