The Federal Airports Authority of Nigeria (FAAN) has launched a “go cashless policy” at the Nnamdi Azikwe International Airport, Abuja, to block revenue leakages and improve seamless operations.

FAAN also stated that it will be phasing out physical cash payments at all FAAN revenue points, including access gates, car parks, and VIP lounges, by Q1 of 2026.

The Managing Director of FAAN, Mrs Olubunmi Kuku, said the initiative means faster, more secure transactions, an end to delays of cash handling and long queues.

Speaking during the launch at the Abuja airport on Monday, Mrs. Kuku said continued reliance on physical currency causes delays, operational inefficiencies, and vulnerabilities in revenue collection.

Kuku, represented by the Director of Commercial and Business Development, Ms. Adebola Agunbiade, outlined the policy’s benefits.

She said, “Effective September 29th, 2025, we have started phasing out physical cash at all FAAN revenue points, including access gates, car parks, and VIP lounges.

“The benefits are clear. A faster, smoother journey from the access gate to the parking lot for passengers and enhanced security, as you no longer need to carry large amounts of cash.

“For FAAN and the nation, it means optimised revenue collection, significantly reduced leakage, and a robust financial accountability system.

“We have begun this rollout strategically, starting with the access gates and lounges at the beginning, and subsequently, to all FAAN-managed airports across the country.”

On when the initiative will be fully operational, she said, “The card is being activated for only FAAN-managed revenue points and within this first pilot phase, we expect to increase our revenue by 50 per cent. By the time we go fully cashless, we expect to be doing between 75 per cent and 100 per cent growth on the revenue we currently do today.

“Everybody sees our figures; they are not hidden. What we are trying to do is to ensure that we are collecting 100 per cent of all the revenue for the federal government.

“Today, between Lagos and Abuja, we have roughly about 300,000 motorists who go through our access gate. That gives you a vague idea of what we generate from just the access gate. We haven’t considered the car parks, we haven’t considered the lounges.

“So rest assured that by the time we roll out this program fully, which we hope will be by Q1 next year, we should be able to double the revenue we are currently making from it.

“We have given ourselves a target of six months. And we hope that by the end of Q1, we will have phased out, totally, cash collections within the airport. So by Q1 next year, we’re totally phasing cash out at FAAN.” (The Nation)

Update news