The Aviation Working Group (AWG) has increased the Nigeria Cape Town Compliance (CTC) index from 49 to 70.5.
This has occurred shortly after Nigeria has made efforts to fully comply with the Cape Town Convention on dry-leasing of aircrafts by preparing and signing the Practice Direction.
The Special Adviser to the Minister of Aviation and Aerospace Development, Tunde Moshood who disclosed this in a press statement stated that the score is the highest Nigeria has attained till date which will give comfort to financiers and the leasing world.
He revealed that an email was received from the Aviation Working Group in London and New York which commended the Aviation Minister, Festus Keyamo and his team for the ‘time, effort and skill’ they put in the last few months into making this a reality.
The email reads ” Thank you (and your colleagues) for the time, effort, and skill over the past months on the Practice Direction issued late last week”
“Based on that important legal development, AWG has swiftly and materially increased the Nigeria CTC compliance index score from 49 to 70.5.”
The SA Media and Communications to the Minister of Aviation and Aerospace Development said there is also potential for further increase in the next few weeks as the Minister has directed the Nigeria Civil Aviation Authority (NCAA) to immediately adjust its administrative rules called IDERA to also fully align with the Convention to further boost the confidence of financiers and lessors across the world.
According to Moshood, “They also said they are poised for further increase the score once Nigeria adjust its administrative rules in the next few weeks and the courts actually begin to apply the Practice Direction”
