The Federal Airports Authority of Nigeria (FAAN) has directed that all cash collections and transactions across its operations must stop by February 29, 2026.
The directive was issued by FAAN’s Managing Director, Mrs. Olubunmi Kuku, in a memorandum titled ‘Cessation of Cash Collections/Transactions’, dated February 3, 2026, and circulated to all directorates within the agency.
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The directive follows approval by the Federal Executive Council (FEC) for government agencies to discontinue cash transactions. According to the statement:
“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 a cashless system.
“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.”
Kuku also instructed all directors to take immediate action to ensure full compliance, adopt alternative approved payment channels, and warned that any breach of the directive would attract stiff penalties.
The move aligns with the federal government’s ongoing push toward a cashless economy, aiming to improve transparency, reduce fraud, and modernize public financial management across government agencies.