The Federal Airports Authority of Nigeria has issued a directive mandating that all cash collections and transactions across its operations be stopped effective February 29, 2026.
In a memorandum titled ‘Cessation of Cash Collections/Transactions,’ dated February 3, 2026, FAAN Managing Director Mrs. Olubunmi Kuku instructed all directorates within the agency to comply with the new policy.
Kuku stated that the directive follows approval by the Federal Executive Council (FEC) for government agencies to discontinue cash transactions and fully adopt a cashless economy system.
“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 statement read.
“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.”
The managing director directed all directors to immediately take necessary steps to ensure full compliance. “Alternative approved payment channels should be fully adopted, and no cash transactions should be accepted beyond the stated deadline, failure will attract stiff penalties,” she added.
