Nigeria has so far attained 75% compliance with the Cape Town Convention (CTC) regarding aircraft financing and dry leasing, according to Festus Keyamo, Minister of Aviation and Aerospace Development. Keyamo made this statement on Tuesday at the Cape Town Convention – Africa Event in Abuja. He claimed that since the Cape Town Convention (CTC) went into effect more than 20 years ago, it has changed the financing and leasing of aircraft by establishing a predictable, transparent, and enforceable legal framework that lowers credit risk and improves access to capital.According to Daily Trust, the International Civil Aviation Organization (ICAO) states that the main goal of the Convention and the Protocol is to address the issue of acquiring specific and opposable rights to high-value aviation assets, such as airframes, aircraft engines, and helicopters, which by definition have no fixed location.
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