By Joseph Erunke, Abuja

The Equipment Leasing Registration Authority (ELRA) has praised Azman Air for its dedication to fully complying with the Equipment Leasing Act (ELA) 2015.

In a statement issued in Abuja by ELRA’s Head of Media and Corporate Communication, Adebola Brookslyn, the Authority’s Registrar/CEO, Donald Wokoma, encouraged all Nigerian airlines to leverage the regulatory and commercial benefits offered under the Act.

Wokoma’s remarks followed a courtesy and fact-finding visit by Azman Air’s Chief Financial Officer, Dr. Muhammad Abdulmunaf, after ELRA issued an advisory mandating the registration of leased movable assets.

“Compliance with the Act offers operators legal certainty, stronger asset protection, and greater confidence from financiers and international lessors,” Wokoma said.

He outlined key provisions of the Act, which include mandatory registration of leased movable assets such as aircraft, engines, ground support facilities, IT systems, and other operational tools. Wokoma noted that adherence to the ELA 2015 enhances investor confidence, strengthens asset security, and improves legal standing in cases of insolvency or disputes.

He also highlighted cross-border leasing protections and the availability of faster dispute resolution through Alternative Dispute Resolution (ADR), emphasizing ELRA’s commitment to aligning Nigeria’s leasing framework with global best practices to boost the country’s aviation profile and attract foreign investment.

Responding, Dr. Abdulmunaf described the ELA 2015 as a forward-thinking regulation that supports corporate governance, safeguards operational assets, and promotes sector stability. He assured that Azman Air would establish an internal compliance team to ensure prompt and seamless adherence to the Act.