According to a statement issued on Monday in Abuja by Adebola Brookslyn, Head of Media and Corporate Communication at ELRA, the Registrar/CEO, Donald Wokoma, urged airline operators across the country to take full advantage of the regulatory and commercial opportunities provided under the Equipment Leasing Act (ELA) 2015.
Wokoma noted that his remarks followed a courtesy and fact-finding visit to ELRA by the Chief Financial Officer of Azman Air Services Limited, Dr. Muhammad Abdulmunaf. The visit was prompted by the authority’s recent advisory on mandatory registration of leased movable assets.
“Compliance with the Act offers operators legal certainty, stronger asset protection, and greater confidence from financiers and international lessors,” he said.
The Registrar outlined key provisions of the Act, especially those requiring the registration of all leased movable assets—such as aircraft, engines, ground support equipment, IT systems, and other operational tools—within Nigeria’s aviation industry.
He stressed the importance of adherence, noting that registration under ELA 2015 gives airlines significant advantages.
“The law is designed to safeguard both lessors and lessees.
By registering leased aviation assets, operators secure stronger legal certainty, improved financial credibility, and better protection in the event of disputes or insolvency,” Wokoma explained.
He listed additional benefits including enhanced ownership protection, increased access to funding, stronger rights during repossession or dispute resolution, clearer cross-border leasing structures, and more efficient and cost-effective dispute management through Alternative Dispute Resolution (ADR).
Wokoma added that full compliance boosts regulatory transparency and operational safety across the aviation leasing ecosystem. He also reaffirmed ELRA’s dedication to supporting the aviation sector while aligning Nigeria’s leasing practices with international standards, thereby improving investor confidence and strengthening operators’ positions in global leasing markets.
In his remarks, Azman Air’s CFO, Dr. Abdulmunaf, described ELA 2015 as “a progressive regulatory instrument that improves operational security, strengthens governance, and promotes stability within the aviation industry.”
He assured the authority that Azman Air would fully comply and would immediately set up an internal team to work with ELRA and maintain strict alignment with all regulatory expectations.