The Federal Airports Authority of Nigeria (FAAN) has announced that all cash payments and collections across its operations must cease by February 29, 2026, as part of a nationwide push toward cashless transactions.
In a memo circulated to all agency departments, FAAN’s Managing Director, Olubunmi Kuku, emphasized that all financial dealings must now be conducted through approved electronic channels. The directive aligns with the Federal Executive Council’s policy requiring government agencies to phase out cash transactions to enhance transparency and efficiency.
Department heads have been instructed to implement the policy immediately and ensure full compliance within their units. Officials found handling cash after the deadline will face strict disciplinary measures, FAAN warned.
The authority stated that the transition is part of a broader effort to modernize financial operations and reduce risks associated with physical cash management. FAAN stressed that electronic payment systems would streamline revenue collection, improve record-keeping, and support government initiatives for a more transparent financial ecosystem.
This move marks a significant step in Nigeria’s ongoing adoption of digital payments in public institutions, joining other government agencies in promoting cashless operations across the country. Stakeholders and airport users are encouraged to familiarize themselves with the approved electronic channels to ensure smooth transactions.
FAAN has promised guidance and support to departments and staff to facilitate the transition, reiterating its commitment to a secure, efficient, and fully digital financial management system.
