NCAA to Fully Implement Cape Town Convention, Says Acting DG

The Acting Director General of the Nigerian Civil Aviation Authority (NCAA), Captain Chris Najomo, has pledged the regulatory body’s commitment to the comprehensive implementation of the Cape Town Convention (CTC). He stated that the agreement and its Aircraft Protocol would bolster Nigeria’s aviation sector, aligning it with global best practices and enhancing its competitiveness.

Speaking during the opening of a one-day conference themed “Convention on International Interests in Mobile Equipment and the Protocol on Matters Specific to Aircraft Equipment”, held at the Transcorp Hotel, Abuja, Captain Najomo highlighted the significant benefits of the CTC. According to him, the Convention enhances aviation financing, safeguards creditor rights, and creates a predictable and sustainable legal framework 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,” he said.

Alignment with National Vision

Captain Najomo commended President Bola Ahmed Tinubu and the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, for their visionary leadership in fostering the growth of the aviation sector. He noted that President Tinubu’s Renewed Hope Agenda prioritizes economic development, innovation, and global competitiveness, aligning seamlessly with the Cape Town Convention’s objectives.

He added, “The Convention offers a pathway to modernizing our aviation sector, ensuring its contribution to Nigeria’s prosperity. Nigeria’s improved ranking on the Aviation Working Group’s Cape Town Convention Compliance Index reflects our progress in implementing its provisions.”

Key Benefits of the Cape Town Convention

Outlining the Convention’s objectives, Captain Najomo emphasized its transformative potential:

1. Streamlined Aircraft Transactions and Asset-Based Financing:
The Convention simplifies international aircraft buying, selling, and leasing processes while protecting creditors’ rights. By ensuring enforceability of interests in mobile equipment, it reduces financing costs and encourages investment.

2. Legal Consistency and International Registry:
A centralized electronic registry enhances transparency and provides public notice of registered interests. The Convention harmonizes security interest regulations across participating nations, ensuring repossession and recovery rights for lessors and lenders in cases of default.

3. Promotion of Industry Standards:
By aligning national regulations with global best practices, the Convention fosters confidence among international investors and supports the aviation industry’s stability and growth.

NCAA’s Commitment

Captain Najomo reaffirmed the NCAA’s dedication to the full implementation of the Cape Town Convention, noting specific measures already taken. “On October 16, 2024, the NCAA issued an Advisory Circular to provide guidance on the regulatory requirements for recording, canceling de-registration, and exporting aircraft located in Nigeria for purposes of export remedies,” he said.

As the conference progressed, he encouraged stakeholders to maintain focus on a shared vision of excellence, adding, “Together, we can build a resilient, competitive, and globally recognized aviation sector that reflects the aspirations of our great nation, Nigeria.”

The Acting DG concluded by reiterating that the Cape Town Convention is a crucial tool for driving economic transformation, connecting communities, and promoting regional integration through Nigeria’s aviation sector.