FAAN
Abayomi Susan
The Federal Airports Authority of Nigeria (FAAN) has announced that all cash collections and transactions will cease at airports nationwide from February 29, 2026. This move is part of the Federal Government’s broader cashless economy policy aimed at promoting transparency, accountability, and efficiency in financial transactions.
According to FAAN’s Managing Director, Olubunmi Kuku, the decision was made following approval by the Federal Executive Council (FEC) and aligns with the government’s directive to discontinue physical cash collections and payments in all government dealings. The authority has directed all departments to adopt alternative approved digital payment channels immediately.
The cashless initiative is expected to bring several benefits, including reduced leakages, improved transaction traceability, faster service delivery, and enhanced public confidence in airport operations. FAAN has assured stakeholders that no revenue will be paid into any third-party account, as all payments will be made directly from Point of Sale (POS) terminals into designated Federal Government accounts
The move is also in line with global best practices in aviation management and is part of FAAN’s broader strategic agenda to deepen stakeholder engagement and promote transparency and accountability. The authority has engaged with various aviation unions, including the National Union of Air Transport Employees (NUATE), to ensure a seamless transition.
FAAN has warned that failure to comply with the cashless policy will attract strict penalties, and accounting officers will be held personally responsible for any breaches. The authority has also clarified that third-party platforms like Paystack will function strictly as gateways, with all funds moving directly into designated government accounts.
The implementation of the cashless policy is expected to position Nigeria’s airports for greater operational integrity, improved service delivery, and stronger revenue assurance. It is also part of the government’s efforts to promote a cashless economy and reduce corruption.
The deadline for the transition to a cashless system is February 28, 2026, and FAAN has urged all stakeholders to comply with the directive. The authority has also assured that it will continue to engage with stakeholders to ensure a smooth transition.
