FAAN to End Cash Transactions by February 2026

The Federal Airports Authority of Nigeria (FAAN), under the management of Olubunmi Kuku, has issued a directive to halt cash transactions across its operations, effective February 29, 2026. This decision follows the approval from the Federal Executive Council and is aimed at aligning with the federal government's cashless policy.

A memorandum dated February 3, 2026, outlines the cessation of cash collection and transactions, emphasizing the need for compliance with the cashless economy initiative. Kuku instructed directors within the agency to take immediate steps to ensure full compliance and warned that no cash transactions would be accepted beyond the stated deadline.

Failure to comply with this directive will result in stiff penalties. The memorandum also highlights the necessity for FAAN to adopt alternative payment channels to facilitate financial business transactions in a cashless manner.