FAAN To Triple Airport Revenue With Cashless Payment System
The Federal Airports Authority of Nigeria has implemented a cashless payment system throughout all airports in an effort to revolutionise operations in the country’s aviation sector.
The initiative, tagged “Operation Go Cashless”, is designed to boost efficiency, reduce congestion, minimise delays, and enhance revenue collection and accountability.
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Managing Director/Chief Executive of FAAN, Olubunmi Kuku, said, “Today, we are not just launching a new payment system; we are fundamentally reshaping the experience at our airports and reinforcing our unwavering commitment to accountability, transparency, and excellence.”
The system will be deployed across all FAAN-operated airports, beginning with Murtala Muhammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja.
Director of Commercial and Business Development, Adebola Agunbiade, explained that the Go-Cashless policy rests on four key pillars: operational efficiency, reduction of congestion and delays, improved revenue collection and accountability, and alignment with global best practices.
She added that the initiative would remove human involvement in cash collection, close avenues for revenue leakage, and ensure that “every Naira is accounted for.”
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According to FAAN, the cashless system is projected to boost revenue collection by 50 per cent during the pilot stage and by up to 75 per cent as more points are integrated, to triple revenue within the first year of full rollout.
Agunbiade said the additional revenue would be reinvested into infrastructural development across FAAN-operated airports. She also emphasised that the policy promotes financial inclusion by extending services to those with limited access to traditional banking.
Passengers can obtain and fund the FAAN Go Cashless Card at airport access gates in Lagos and Abuja.
immensely”. FAAN boss Kuku thanked President Bola Ahmed Tinubu for his support of the aviation sector and praised Minister of Aviation and Aerospace Development, Festus Keyamo, for “encouraging innovations and supporting FAAN immensely.”
The agency described the launch of the cashless payment system as a milestone in its efforts to modernise Nigeria’s airports, with stakeholders optimistic that it will improve passenger experience while driving sustainable revenue growth.
