The Federal Airports Authority of Nigeria (FAAN) has directed that all cash collections and transactions within its operations will cease effective February 29, 2026.
The directive came from Olubunmi Kuku, FAAN’s Managing Director, in a memo dated February 3, 2026, circulated to all departments. It follows approval by the Federal Executive Council (FEC) to enforce the cessation of cash transactions in alignment with the Federal Government’s cashless economy policy.
In the memo, Kuku emphasized that it had become necessary for FAAN to strictly comply with the policy by conducting all financial and business transactions through approved cashless channels.
All cash collections for official FAAN business must stop by the February 29 deadline. Directors have been instructed to take immediate steps to ensure full compliance, adopt alternative approved payment systems, and ensure no cash transactions are accepted beyond the stated date. Non-compliance will attract stiff penalties.
The move is part of broader efforts to modernize financial operations, enhance transparency, and streamline revenue collection across the nation’s airports.
