Amanze Chinonye
The Federal Airports Authority of Nigeria (FAAN) has announced the cessation of all cash transactions across its operations nationwide, effective February 29, 2026, in compliance with the Federal Government’s cashless policy.
In a memo dated February 3, 2026, and signed by its Managing Director and Chief Executive, Olubunmi Kuku, the agency directed that all cash collections in the conduct of its official business must stop from the effective date. The memo, titled “Cessation of Cash Collections/Transactions,” was circulated to all directorates and airport managers.
FAAN stated that no physical cash whether in naira or foreign currency should be accepted for any official transactions across airports under its management after the deadline.
Join our WhatsApp ChannelThe directive follows approval by the Federal Executive Council (FEC) for ministries, departments and agencies to fully transition to electronic payment systems as part of broader public finance reforms aimed at promoting transparency, accountability and revenue efficiency.
Under the new policy, all payments for airport services including parking fees, lounge access, concession charges and other levies are to be processed strictly through approved electronic platforms such as Point of Sale (PoS) terminals, bank transfers and other digital payment channels.
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FAAN warned that strict sanctions would be imposed on any official, department or concessionaire that fails to comply with the directive.
The move is also backed by earlier instructions from the Office of the Accountant-General of the Federation. The Accountant-General of the Federation, Shamseldeen Ogunjimi, had ordered the cessation of physical cash payments across federal agencies, warning that continued violations undermine government e-collection and e-payment systems and contravene existing financial regulations, including Treasury Single Account (TSA) guidelines.
Industry observers say the transition to a fully cashless system is expected to curb revenue leakages, strengthen auditing processes and align Nigeria’s airport operations with global best practices.
However, some stakeholders have raised concerns about potential challenges, including network reliability and payment access for international passengers who may not immediately have access to local banking platforms.
With the February 29 deadline approaching, FAAN is expected to intensify sensitisation efforts and ensure that necessary infrastructure is fully deployed across all airports to facilitate a seamless transition to the new digital payment regime.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
