BusinessNews

FAAN Targets Revenue Transparency With Nationwide Cashless Airport Rollout

By Justina Eboji

0:00

Listen to story here

The Federal Airports Authority of Nigeria (FAAN) has announced a complete ban on cash transactions at all airport gates, parking lots, and lounges effective March 1, 2026.

The directive, signed by FAAN’s Managing Director, Mrs. Olubunmi Kuku, mandates that all payments in these high-traffic areas shift exclusively to digital platforms like POS terminals, mobile apps, and bank cards. This comes amid rising concerns over untracked cash handling, which FAAN estimates has led to millions of naira in lost revenue annually.

“Cash has no place in our future airports,” Kuku stated in a press release, stressing that the policy aligns with global best practices, enhances security, and ensures every kobo generated benefits infrastructure upgrades and passenger services

Affected areas include entry/exit gates at Nigeria’s 22 federal airports, multi-story parking facilities, and premium lounges. Travelers will need valid cards or digital wallets no exceptions for VIPs or emergencies. FAAN has rolled out over 500 new POS machines and partnered with banks like Access and GTBank for seamless integration

FAAN promises 24/7 tech support hotlines and grace periods for first-time offenders. The ban excludes intra-terminal shops and duty-free stores, which will phase in later. With Nigeria’s digital economy booming over 60% card penetration per CBN data this could pave the way for fully cashless airports by 2027

Airport unions have endorsed the move, but urge training for low-digital-literacy staff. As Nigeria’s skies get busier, FAAN’s cashless era aims to keep flights on time and funds accounted for.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button