The Federal government has implemented the Cape Town Convention protocol on de-Registration and export request of leased aircrafts.
Speaking on Wednesday at the signing of a protocol documentation of Irrevocable Delegation of Authority to de-Register Aircraft (IDERA) in Abuja, the Minister of Aviation and Aerospace Development, Festus Akeyamo explained that it is a necessary step in allowing new aircrafts to come into the country.
“We are here today, having fulfilled all our judicial obligations, we want to update the administrative rules, and this is what they called, the Advising circular.
“This requirement is an international requirement, a global requirement, which we have not attended to all along.
“This is a very important step in raising Nigeria further in the world of leases and financiers” .
Keyamo further explained that, certain negotiations around the world by “our aircraft operators are on hold now. One of my aids will tell you that they are trying to assess certain aircrafts now on dry leases, those negotiations are on hold until we sign this as a country.
“As I speak with you, I got that information yesterday. They are holding back. They said they want the IDERA to be signed, and then the aircrafts will come in .
“This is to make sure that their aircrafts are safe within our jurisdiction. And that is why we are doing this today” he stated.
The Minister said “I don’t want to read long speeches. I have explained what we are here for, yes, I therefore call upon the DG to sign”.
On his part, the Director General of Nigerian Civil Aviation Authority (NCAA), Capt. Chris Najomo explained that the Cape Town Convention and the associated Aircraft Protocol came into force in the United Kingdom on 1%November 2015 through The International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015.
“As we are aware by now, the aim of the Cape Town Convention is to reduce the cost of raising finance for large, high value mobile assets which routinely cross borders.
“In relation to registration and operation of aircraft in Nigeria, the main impact of the Convention is the ability of the registered owner to request an Irrevocable De-Registration and Export Request Authorisation (“‘IDERA”) over an eligible aircraft.
“Once an IDERA is recorded, the party that has been declared by the registered owner as the “authorised party” will be the only party with the right to de-register and export the aircraft.
“The smooth execution of this authorisation has been impeded by judicial pronouncements and unwilling lessees. The current Honourable Minister of Aviation & Aerospace Development has taken the bull by the horn in ameliorating the consequences of this occurrence, and that is why we are gathered here today.
“Nigeria is a Contracting State to the Convention On International Interests In Mobile Equipment (the Convention) and the Protocol Thereto On Matters Specific To Aircraft Equipment (the Protocol), and had made a declaration pursuant to Article XXX(1) of the Protocol providing for the recordation and enforcement of IDERAs”
“In line with the HM’s efforts, I am issuing an Advisory Circular: NCAA-AC-AWS001A dated 16th October, 2024 intended to provide information and guidance on the civil aviation regulatory requirements and procedures for recordation and cancelation of an IDERA and de-registration of aircraft and exporting aircraft, including aircraft objects located in Nigeria, for purposes of any export remedies.
“The goal of enabling our airlines have access to dry-lease aircraft to boost operational capacity will be eased as a result of today’s achievement” he noted.
