FAAN Sets February 29 Deadline To End Cash Transactions

The Federal Airports Authority of Nigeria has directed that all cash payments and collections within its operations must cease by February 29.

The Managing Director of FAAN, Olubunmi Kuku, conveyed the directive in a memorandum dated February 3, 2026, titled ‘Cessation of Cash Collections/Transactions,’ which was circulated to all departments of the agency.

Kuku explained that the decision follows the approval granted by the Federal Executive Council for government institutions to eliminate cash-based transactions.

The statement reads: “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.

“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.

“In addition, all Directors are requested to immediately take necessary steps to ensure full compliance with this directive. Alternative approved payment channels should be fully adopted, and no cash transactions should be accepted beyond the stated deadline, failure will attract stiff penalties.”