FAAN Bans Cash Transactions Across Operations

FAAN to end all cash transactions February 29, 2026.
Directive follows Federal Executive Council cashless policy approval.
Officials risk penalties for non compliance after deadline.

The Federal Airports Authority of Nigeria has directed that all cash payments and collections across its operations must cease by February 29, 2026.

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EKO HOT BLOG reports that the decision forms part of efforts to implement a cashless system in line with Federal Government policy. The directive was issued by FAAN’s Managing Director, Olubunmi Kuku, in a memo addressed to all departments within the agency.

The move follows the approval of the Federal Executive Council for government agencies to phase out cash transactions and adopt electronic payment systems.

Under the new directive, all financial dealings within FAAN are to be conducted strictly through approved electronic channels. Departmental heads have been instructed to take immediate steps to ensure full compliance before the deadline.

Any official found handling cash transactions after February 29, 2026, will face strict penalties.

The memo read: “Further to the approval on cessation of cash collections or 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.

FAAN Bans Cash Transactions Across Operations

“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.”