Aviation Minister Keyamo Signs NCAA Procedure For IDERA .

.. Impact of IDERA is ability of registered owner to request an Irrevocable Deregistration …. Capt Najomo 

Oru Leonard 

In keeping to the objective of the 5 point agenda for the Aviation Sector
The Minister of Aviation and Aerospace Development, Festus Keyamo has officially signed the updated Nigerian Civil Aviation Authority (NCAA), procedure for Recordation of Irrevocable Registration and Export Request Authorization (IDERA) and registration of Aircraft under IDERA to enhance compliance with international standards.

Addressing Journalists during the exercise in his office on Wednesday, Keyamo said the signing of the updated IDERA was a very important step in raising further the scores of Nigeria in the world of lessors and financiers.

He said IDERA is the administrative remedy by which NCAA can issued authorisation for the deregistraction of aircraft on the request of the owner.

While stating that IDERA is an international requirement, the Minister said the Aviation Group and aircrafts operators across the world are waiting anxiously for Nigeria to sign the documents to ensure their aircrafts are safe within the country.

Still emphasizing the significance of signing the updated IDERA, Keyamo said the previous governments have ignore this part of our duty in the Aviation Industry.

He noted that the signing of IDERA is needful in other to unlock the walls of aircraft lessors and financiers across the world to operate in Nigeria.

“We signed the practice direction guiding the court on how to intepret the Cape Town convention and the protocols

“We signed that because there was a judicial uncertainty before then as to how to treat cases that were brought before the court requiring it to intervene when there’s a dispute between the lessors and the lessees”.

Keyamo disclosed that in the past, there was always a problem on how to resolve dispute and the time frame within which such disputes are resolved.

Keyamo said having settled the judicial remedies by the practice direction, Nigeria has turned attention to the administrative root by which aircraft can be deregistered and exported out of the country. He added that more stake holders like the security agencies will be involved to make the transaction seamless in 5 days according to global standards.

He further explained that the lessors have two remedies to either take their aircrafts out when there’s a dispute – the judicial remedy which relates more to the debtors who runs to the court to get an injunction, saying, the creditors can also go to court requiring to take their aircrafts out and their request will be granted by the court.

“However, there’s a second remedy – the NCAA which can issue authorisation (IDERA) either after the court has granted the order or even without a court order; you can apply administratively for your aircraft to be taken out of the country”.

Earlier, the Director General of NCAA, Captain Chris Ona Najomo, said in relation to the registration and operation of aircraft in Nigeria, the main impact of IDERA is the ability of the registered owner to request an Irrevocable Deregistration and Export Authorisation over an eligible aircraft.

He said once an IDERA is recorded, the party that has been declared by the registered owner as the authorized party will be the only party with the right to deregister and export aircraft.

With the stroke of his signature, Keyamo declared, “This is a momentous day for Nigeria’s aviation sector. We are committed to international standards, and this updated procedure solidifies our position as a leader in African aviation.” The room erupted in applause as Keyamo handed the signed document to the NCAA officials.

As news of the signing spread, Nigeria’s aviation community buzzed with excitement. This development would pave the way for increased cooperation with international partners and cement Nigeria’s status as a hub for aviation excellence in Africa. Keyamo’s vision for a safer, more efficient, and globally compliant aviation sector had taken a significant step forward.

The Honourable Minister’s dedication to progress and transparency had earned him recognition. His swearing-in ceremony had set the tone for his tenure, emphasizing teamwork, selflessness, and people-oriented leadership. Today’s signing was a testament to his unwavering commitment to Nigeria’s growth and development.

The CTC, ratified by Nigeria in 2006, has five primary goals, including facilitating aircraft financing transactions, providing default remedies, and reducing risks for creditors. By complying with the CTC, Nigeria demonstrates its commitment to international cooperation and best practices in aviation.

The signing is a significant step forward, given Nigeria’s past struggles with aircraft leasing due to concerns over asset repossession . With this updated procedure, Nigeria strengthens its position in the global aviation market, making it more attractive to international lessors.

Key Benefits of CTC Compliance:

– _Enhanced Creditor Confidence_: Provides readily enforceable rights in mobile equipment, such as aircraft, for creditors .
– _Simplified Asset Repossession_: Streamlines the process for lessors to repossess aircraft in case of default.
– _Increased Access to Financing_: Facilitates competitive credit facilities for Nigerian airlines.

The Minister of Aviation and Aerospace Development, Festus Keyamo, has been working tirelessly to promote Nigeria’s compliance with international aviation standards. His efforts have included meetings with Boeing executives and signing an MOU to improve Nigeria’s civil aviation sector.

This development is expected to boost Nigeria’s aviation industry, enabling local airlines to access dry-lease markets and improve overall services. As Nigeria continues to make strides in aviation, the country’s economy and global reputation are poised to benefit.