The Minister of Aviation and Aerospace Development, Festus Keyamo, has formally signed the updated Nigerian Civil Aviation Authority (NCAA) procedure for the Recordation of Irrevocable Deregistration and Export Request Authorization (IDERA).
This revised framework also includes new procedures for the registration of aircraft under IDERA, marking a significant step toward aligning Nigeria’s aviation sector with global best practices.
The IDERA mechanism, which is in line with the Cape Town Convention, provides lenders and lessors with enhanced security in cases of financial default, ensuring that aircraft operators meet their financial obligations.
The Aviation minister, pointed out the importance of maintaining compliance with international standards, noting that the aviation sector’s ability to attract foreign investment hinges on efficient regulatory practices.
