FAAN Implements Cashless Policy to Curb Revenue Leakages

The Federal Airports Authority of Nigeria (FAAN) is reinforcing a cashless policy across the nation's airports to address revenue leakages. Olubunmi Oluwaseun Kuku, the Managing Director of FAAN, disclosed this initiative during a meeting with the House of Representatives Committee on Finance.

Kuku described the cashless enforcement as a critical step towards strengthening financial accountability and sustainability, aligning with the federal government's broader fiscal reform agenda. The initiative aims to plug financial leakages and boost revenue generation, although it may cause temporary inconveniences for airport users.

Preparatory measures, including a public sensitization campaign, are set to commence in mid-2025 to ensure stakeholders are adequately prepared for the transition. FAAN will introduce four payment options, including an annual e-tag, VIP sticker, personal bank ATM card, and a FAAN-issued cashless card.

Kuku clarified that the introduction of the cashless card does not restrict users to a single payment platform.