BREAKING: FAAN Bans Cash Payments From February 29
The Federal Airports Authority of Nigeria (FAAN) has announced that all cash payments and collections across its operations must stop by February 29, 2026.
The Genius Media Nigeria reports that the directive is part of a wider move to implement a cashless system in line with government policy.
FAAN’s Managing Director, Olubunmi Kuku, issued the order in a memo to all agency departments.
The move follows the Federal Executive Council’s decision for government agencies to phase out cash transactions.
All financial dealings within FAAN are now expected to use approved electronic channels.
Department heads have been instructed to take immediate action to ensure compliance.
Any official found handling cash after the deadline will face strict penalties.
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.”
