The Institute of Chartered Accountants of Nigeria (ICAN) has urged aviation agencies and stakeholders to build financial strategies and decisions that align with broader institutional objectives and a higher purpose.
According to the Institute, whether it’s achieving net-zero carbon emissions, expanding infrastructure, or increasing non-aeronautical revenue, financial strategy must be visionary,
flexible, and rooted in stakeholder priorities.
Speaking during the inauguration of Aviation Chapter and the investiture of Ayodele Olatiregun as the pioneer chairman and swearing in of the 1st executive committee in Lagos, Nelson Wilbert, general manager, Operations Integrity Heritage Energy Operational Services Ltd and guest speaker at the event said an effective financial strategy considers both the present and the future.
Olatiregun said it emphasises capital efficiency, demand-driven investments, data-backed planning, and a performance culture that links financial goals with operational outcomes.
“Strategic financial leadership is about asking the right questions. Ask yourselves: Are we funding the future or merely financing the past and maintaining the present? Are we investing in resilience as much as profitability, or just mitigating risks? A mission-minded strategy embraces anti-fragility—the ability to grow stronger amid volatility. It means prioritising capital efficiency, data-driven foresight, and investments that don’t just withstand disruption but thrive because of it,” he said.
He explained that in an era where speed and accuracy define competitiveness, manual processes are a relic of the past, adding that modern aviation finance demands integrated systems, seamless
workflows that connect planning, procurement, accounting, compliance, and reporting.
Olatiregun said automation reduces risk, improves turnaround time, and enables scenario planning that supports smarter decisions, adding that systems empower finance teams to focus less on data entry and more on strategic advisory.
He said systems without standards are like planes without air traffic control—chaotic and potentially dangerous.
“Aviation thrives on trust. Passengers trust that every bolt is secure; investors trust that every figure is accurate. Standards are the guardrails of financial integrity. Adopting and complying with internationally recognised standards like IPSAS, IFRS, and ICFR not only ensures compliance but also fosters investor confidence, transparency, and good governance.
“More importantly, standards help protect the reputation of our institutions. In an industry that thrives on safety and trust, financial standards are as critical as operational ones. Yet, standards must evolve. Just as aviation safety protocols improve with every lesson learned, our financial frameworks must advance to address emerging challenges—climate resilience, digital currencies, and ethical AI. Compliance is the floor; excellence is the ceiling,” he said.
He urged stakeholders to design flight paths that are bold, inclusive, and sustainable, adding that there is a need to build financial systems that are intelligent, interoperable, and adaptive.
Ayodele Olatiregun, the pioneer chairman of Aviation Chapter of I CAN said the chapter is founded on three pillers which include professional excellence, strategic collaboration and sustainable system.
“Today, we chart a course on a vital journey – a flightpath to financial excellence. Like a well-coordinated Air traffic operation, achieving financial excellence in our aviation sector requires three critical elements: a clear strategy, efficient systems, and adherence to sound standards.
He stressed that the vision is to become the go-to body for financial insight and integrity in aviation— in Nigeria, across Africa, and globally, adding that the aviation industry is a critical engine of economic growth and connectivity. As accountants, we play a vital role in ensuring its financial health and stability.
Also speaking at the event, Festus Keyamo, the minister of aviation and aerospace development, said the historic inauguration of the Executive Committee of the ICAN Aviation Chapter, anchored on the theme ‘Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards,’ is both timely and visionary.
Keyamo saithat d at a period when the aviation sector seeks greater resilience and accountability amidst challenging macroeconomic realities, the establishment of this chapter speaks volumes about ICAN’s enduring commitment to nation-building through sound financial governance.
The minister welcomed the initiative, saying it aligns with the reform agenda in the sector.
The minister who was represented by Henry Agbebire, director of special duties, Federal Airports Authority of Nigeria (FAAN) said by fostering professional excellence, encouraging strategic collaboration, and championing ethical standards, 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,” he said.
