Lagos, Nigeria – The Federal Airports Authority of Nigeria (FAAN), the agency responsible for managing Nigeria’s airports, has announced a sweeping shift to a fully cashless system across all its operations, directing that all cash collections and transactions must cease by February 29, 2026.
Okay News reports that the directive was issued by Mrs Olubunmi Kuku, Managing Director of FAAN, in an internal memorandum dated February 3, 2026, circulated to all directorates within the authority.
The move aligns FAAN with a broader federal policy approved by Nigeria’s Federal Executive Council (FEC), mandating government agencies to discontinue cash-based transactions.
In the memo titled “Cessation of Cash Collections/Transactions,” Kuku stressed that compliance with the federal government’s cashless policy was no longer optional.
“Further to the approval on cessation of cash collections/transactions by the FEC, it has become expedient that FAAN complies strictly with the policy of cashless economy by conducting all its financial and business transactions through cashless system,” the memo stated.
She added that the transition comes with a clear deadline and strict enforcement measures.
“Accordingly, directive is hereby given that all cash collections or transactions in the conduct of FAAN’s official businesses MUST STOP with effect from February 29, 2026,” Kuku said.
The FAAN chief also instructed all departmental heads to ensure immediate implementation, warning that any violation after the deadline would attract penalties.
“In addition, all Directors are requested to immediately take necessary steps to ensure full compliance with this directive. Alternative approved payment channels should be fully adopted, and no cash transactions should be accepted beyond the stated deadline, failure will attract stiff penalties,” the memo warned.
FAAN oversees major international and domestic airports across Nigeria, including Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja.
