FAAN stops all cash collections, transactions end of February

The Federal Airports Authority of Nigeria (FAAN) has ordered that, effective February 28, 2026, all cash collections and transactions will come to an end.

Olubunmi Kuku, managing director, FAAN who gave the directive via a memo dated February 3, 2026 and circulated to all departments, stated that the directive followed approval by the Federal Executive Council (FEC) on the cessation of cash transactions in line with the Federal Government’s cashless economy policy.

In the memo, she stated that it had become expedient for FAAN to comply strictly with the policy by conducting all its financial and business transactions through approved cashless channels.

According to the memo, all cash collections in the conduct of official FAAN business must stop by February 28, 2026.

“Directors are requesting to directed to immediately take necessary steps to ensure full compliance with this directive. Alternative approved payment channels should be fully adopted and no cash transaction should be accepted beyond the stated deadline, failure will attract stiff penalties,” the directive stated.

Ifeoma Okeke-Korieocha

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.