Cash is about to disappear from Nigeria’s airport business environment.
Beginning at the end of February 2026, the Federal Airports Authority of Nigeria (FAAN) will no longer accept physical cash for any transaction carried out within its operations nationwide. The change marks a decisive step in the Federal Government’s long-running drive to digitise public-sector payments and tighten financial controls.
Rather than a gradual phase-out, the policy represents a hard stop. From the effective date, payments linked to airport services, commercial activities, or administrative dealings must be completed exclusively through approved electronic platforms.
The directive follows a formal endorsement by the Federal Executive Council, which has been pushing government agencies to abandon cash-based systems that are viewed as opaque and difficult to track. For FAAN, the approval removes any ambiguity around compliance.
In an internal communication circulated to staff, FAAN’s Managing Director and Chief Executive Officer, Olubunmi Kuku, made it clear that the authority is expected to fully align with the national cashless framework. She noted that government agencies had previously been warned against bypassing electronic payment systems, a practice that has drawn increasing scrutiny from fiscal authorities.
To ensure the policy takes hold across the aviation network, FAAN has instructed all directors and airport managers to finalise the deployment of alternative payment channels before the deadline. The aim, according to the memo, is to eliminate cash handling entirely from FAAN’s official business processes.
The agency has also attached consequences to the directive. Any department or personnel that continues to accept cash after the cutoff date risks sanctions, a move designed to discourage resistance and enforce uniform adoption across all airports.
By removing cash from its transaction chain, FAAN is positioning Nigeria’s airports within a broader government strategy focused on transparency, efficiency, and improved financial oversight, signalling a clear shift in how public institutions manage revenue in the digital era.
No comments:
Post a Comment