The Federal Airports Authority of Nigeria (FAAN) has reaffirmed its decision to halt all cash transactions across its operations nationwide, in line with the Federal Government’s cashless policy.
The directive was conveyed in an internal memo signed by FAAN’s Managing Director and Chief Executive Officer, Olubunmi Kuku, and obtained by journalists on Tuesday. According to the memo, all forms of cash collection in the course of FAAN’s official business activities will cease with effect from February 29, 2026.
The move follows the approval granted by the Federal Executive Council (FEC) for Ministries, Departments, and Agencies (MDAs) to fully transition to a cashless operational system. The policy aims to strengthen transparency, accountability, and efficiency in government revenue collection and financial transactions.
FAAN’s decision is also anchored on an earlier directive issued by the Office of the Accountant-General of the Federation, dated November 24, and forwarded to all government agencies. In that correspondence, the Accountant-General of the Federation, Shamseldeen Ogunjimi, ordered the immediate cessation of cash payments in government dealings. The circular expressed concern that some agencies had continued to circumvent existing regulations by accepting physical cash, a practice the government strongly condemned.
The Treasury circular noted that persistent violations of the cashless directive undermine federal policies and weaken the integrity of government e-collection and e-payment systems. It therefore categorically prohibited the collection or acceptance of physical cash, whether in naira or foreign currency, for all revenues due to the Federal Government. Instead, all payments are to be made strictly through approved electronic platforms.
Reiterating FAAN’s position, Kuku stated that, following FEC’s approval, it had become imperative for the authority to comply fully with the cashless economy policy. She emphasised that all financial and business transactions conducted by FAAN would henceforth be processed exclusively through electronic and cashless channels.
The authority assured stakeholders that the measure is intended to align FAAN with national financial reforms and enhance the efficiency and credibility of its operations.
