The private jet had 10 persons onboard before it overshot the runway, as firefighters and rescue officials from the Federal Airports Authority of Nigeria were immediately deployed to the scene.
The NCAA declared in a statement that the licence suspension was with immediate effect pending the outcome of investigations into the incident.
The Challenger CL 601 aircraft, registered as N580KR and operated by Mattini Airline Services Limited, departed from Abuja to Samuel Ladoke Akintola Airport in Ibadan before the incident at 11 a.m.
The regulatory body announced its intention to conduct a comprehensive safety and economic audit of all private jet operations in Nigeria, emphasising its commitment to ensuring the highest standards in the aviation sector.
The ownership of numerous private jets, linked to both serving and non-serving governors as well as National Assembly members across the country, has come under scrutiny.
These private jet owners have faced accusations of violating both economic and safety regulations set by the regulator.
The Director, Public Affairs and Consumer Protection, NCAA, Michael Achimugu, issued a statement saying it enlisted the Nigerian Safety Investigation Bureau to conduct a thorough investigation into the Ibadan Airport incident.
While the NSIB is conducting the safety investigation, the NCAA has initiated an economic inquiry into the aircraft’s operation, specifically concerning the terms and conditions of the PNCF as detailed in its documents.
“In the meantime, and in accordance with Sec 32 (4) of the Civil Aviation Act 2022, the NCAA has also suspended the PNCF of Mattini Airline Services Limited with immediate effect.
“The suspension, NCAA said will subsist until a determination is made that the conditions of the PNCF have been adhered to.
“NCAA has further initiated a safety and economic audit of all private jet operations in Nigeria.
“NCAA however assured the traveling public of its utmost commitment to safety and the entrenchment of global best practices.”
In a press conference last week, the acting Director-General of NCAA, Chris Najomo said that all private jet owners operating commercial services risk losing their licenses for non-compliance.
The DG said the NCAA would do some sting operations to ensure that operators who are not ready to comply to go and get an Air Operator Certificate cease operations.
In November, a private jet that departed from the Federal Capital Territory crash-landed just before arriving at the airport in Ibadan.
The NSIB had called out the operator, saying Flints Aero Services Limited was issued with a permit for a non-commercial flight.