The Equipment Leasing Registration Authority (ELRA) has commended Azman Air for its commitment to full compliance with the Equipment Leasing Act (ELA) 2015, following a recent engagement between both organisations.

In a statement issued on Monday in Abuja, Adebola Brookslyn, Head of Media and Corporate Communication at ELRA, said the Registrar/CEO of the Authority, Donald Wokoma, urged all airline operators in Nigeria to take full advantage of the regulatory and commercial benefits embedded in the Act.

Wokoma’s remarks came after a courtesy and fact-finding visit by the Chief Financial Officer of Azman Air Services Limited, Dr Muhammad Abdulmunaf, to the Authority. The visit followed ELRA’s advisory on the mandatory registration of leased movable assets.

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

He provided a detailed overview of the Act’s key provisions, particularly those requiring the registration of all leased movable assets within Nigeria’s aviation sector. These include aircraft, engines, ground support equipment, IT infrastructure, and operational tools.

“The law is designed to protect both lessors and lessees,” he explained. “By registering leased aviation assets, operators gain stronger legal certainty, improved financial standing, and better protection during disputes or insolvency situations.”

Wokoma listed the benefits of registration to include enhanced ownership protection, improved access to financing, and increased investor confidence. He added that the framework also strengthens rights during dispute resolution, repossession, or insolvency, and provides a clear structure for cross-border leasing—especially vital for airlines dependent on imported aircraft.

He further noted that the Act promotes faster and cost-effective dispute management through Alternative Dispute Resolution (ADR), while enhancing regulatory transparency and operational security across the aviation leasing value chain.

The Registrar reaffirmed ELRA’s commitment to supporting Nigeria’s aviation sector with globally accepted regulatory standards. He said the country’s leasing framework is increasingly aligned with international best practices, giving domestic operators a stronger position in global leasing markets and boosting Nigeria’s appeal to foreign investors.

In his response, Azman Air’s CFO, Abdulmunaf, described the Equipment Leasing Act as “a forward-looking regulatory framework that enhances operational protection, strengthens corporate governance, and supports aviation sector stability.”

He assured ELRA of the airline’s readiness to comply fully with the Act, adding that Azman Air would immediately establish an internal compliance team to work closely with the Authority and ensure seamless alignment with regulatory requirements.