The Federal Government has been urged to strengthen financial oversight of domestic airlines through regular audits to assess their liquidity and ensure long-term sustainability in Nigeria’s aviation sector. Industry stakeholders believe greater transparency will support business growth and investor confidence.
Speaking in Lagos, Group Managing Director of Finchglow Holdings Ltd, Bankole Bernard, said regulators should adopt a monitoring framework similar to the Central Bank of Nigeria’s oversight of commercial banks. He noted that regular financial audits would help prevent the diversion of operational funds and encourage better corporate governance.
Bernard also warned against imposing additional taxes on the aviation industry, particularly aviation training schools, under proposed tax reforms. He argued that stronger financial health among airlines would drive fleet expansion, create jobs and support the sector’s overall contribution to economic growth.
