The Nigerian Navy has pledged full support for the Equipment Leasing Registration Authority (ELRA) in enforcing the Equipment Leasing Act of 2015 to strengthen transparency and accountability in the sector.
The commitment was given by the Chief of Naval Staff, Vice Adm. Idi Abbas, during a courtesy visit by officials of the Equipment Leasing Registration Authority to the Naval Headquarters in Abuja.
According to a statement by ELRA’s Head of Media and Corporate Communication, Adebola Sunday, Registrar and CEO Donald Wokoma reaffirmed the agency’s dedication to promoting transparency and ensuring leased assets are properly registered and traceable.
Wokoma said asset registration enhances economic growth while improving oversight and accountability within the leasing industry and maritime operations.
In response, Vice Adm. Abbas described asset registration as vital to economic stability and said the Navy is ready to collaborate with ELRA to strengthen enforcement and regulatory compliance.
Both sides agreed to deepen cooperation, improve information sharing, and develop structured frameworks aimed at boosting investor confidence and protecting national economic interests.
