Sosoliso plane crash : FG urged to create aviation insurance funds
Demuren, while fielding questions from the Senate Committee on Aviation on the insurance claims of the families of the victims of the 2006 air mishap in Abuja and the Sosoliso plane crash in Port Harcourt in 2005, said that there is need to overhaul the insurance system in Nigeria, especially that of aviation in order to save the industry from unnecessary stress.
According to him, there should be an aviation insurance fund to be domiciled with the Central Bank of Nigeria (CBN) to facilitate insurance claims in times of accidents.
He hinted that the regulatory authority has restored the Air Operator’s Certificate (AOC) of the Aviation Development Company (ADC) withdrawn following a fatal accident four years ago. With this development, the airline is set to return to its schedule passenger service as soon as all necessary arrangements are concluded.
Preparations such as re-fleeting and recruitment of technical staff such as pilots and engineers, operations and administrative personnel must be concluded by the airline because many of its staff had drifted to secure jobs in other airlines and outside core aviation business.