The Federal Airports Authority of Nigeria (FAAN) has announced that all cash transactions will end nationwide on February 28, in line with the Federal Government’s cashless policy.
In an internal memo signed by Managing Director Mrs Olubunmi Kuku and obtained by TVC News, the agency directed that all cash collections for official FAAN business must cease in February, with a full digital transition set for March 1.
Kuku stated that the directive complies with a directive from the Central Bank of Nigeria mandating the adoption of digital payments across airports nationwide from March.
The directive follows the approval by the Federal Executive Council for government agencies to fully transition to a cashless system.
The directive is not peculiar to FAAN alone, as other government agencies operating within the airport ecosystem, as well as other Federal government agencies, are also expected to align with the new cashless policy.
While regulatory timelines are often subject to possible extensions to allow for a smooth transition and adjustment, FAAN appears to be well-positioned ahead of the implementation date.
It would be recalled that the Authority officially launched its cashless policy in September last year, with the Managing Director reiterating the agency’s preparedness during an appearance on TVC News’ Beyond the Headline.
This early rollout signals that the transition to a fully digital payment system is a continuation of an already established framework.
As of this morning, internal instructions remain clear- all directorates are to ensure operational readiness for a complete switch to digital transactions by March, marking another significant step in Nigeria’s broader push toward a cashless economy.
