• Super Admin
• 06 Mar, 2026

The Nigerian Navy has pledged its support for the Equipment Leasing Registration Authority (ELRA) to strengthen asset registration and enforcement within the maritime sector. The assurance was given by Admiral Idi Abbas, Chief of Naval Staff, during a courtesy visit by officials of the Authority to the Naval Headquarters in Abuja. Speaking during the meeting, Donald Wokoma, Registrar and Chief Executive Officer of ELRA, reiterated the Authority's commitment to promoting transparency, accountability, and structured financing through proper registration of leased assets. According to a statement issued by Adebola Brookslyn Sunday, ELRA's Head of Media and Corporate Communication, on Friday Wokoma said the Authority is working to ensure that leasing continues to serve as a viable driver of economic growth across key sectors, particularly maritime operations. He explained that ELRA's mandate includes ensuring that leased assets are properly registered, traceable, and compliant with the provisions of the Equipment Leasing Act, 2015. "ELRA promotes leasing as a driver of economic growth and ensures leased assets are properly registered and traceable to enhance transparency and maritime enforcement," Wokoma said. Responding, the Chief of Naval Staff described asset registration as a critical element for strengthening economic stability and improving oversight within Nigeria's maritime domain. "The Nigerian Navy stands ready to collaborate with ELRA, as effective asset registration strengthens economic activity and oversight," Abbas said. The naval chief also commended the partnership between ELRA and Admiralty Maritime Services Limited (AMSL), noting that leasing arrangements allow maritime operators to expand their fleets without the burden of heavy upfront capital investment. Both parties agreed to deepen operational collaboration, enhance information sharing, and develop structured frameworks aimed at strengthening compliance, boosting investor confidence, and safeguarding Nigeria's economic interests within the maritime sector. Source: https://businessday.ng/?p=1097297