The Federal Airports Authority of Nigeria (FAAN) has directed an immediate halt to all cash transactions across its airport operations nationwide, effective February 28, 2026.

An internal memo signed by the Managing Director of FAAN, Olubunmi Kuku, dated February 3, 2026 and sighted by The Guardian yesterday said that the directive was in compliance with the Federal Government’s cashless policy.

Kuku, in the memo, mandated all departments and airport managers to ensure full transition to electronic payment channels before the deadline.

FAAN said its decision also aligned with an earlier directive issued by the Office of the Accountant General of the Federation through a Treasury circular dated November 24, 2025.

The circular, signed by the Accountant General of the Federation, Shamseldeen Ogunjimi, ordered the cessation of cash transactions in all government dealings.

The move follows approval by the Federal Executive Council for Ministries, Departments and Agencies (MDAs) to discontinue physical cash collections and payments as part of broader reforms aimed at strengthening transparency and accountability in public finance management.

The circular expressed concern over what it described as persistent violations of the cashless policy by some MDAs and parties involved in government transactions.

“Regrettably, persistent violations of this regulation by MDAs and parties in Government transactions are being noticed.

“This trend is unacceptable as physical cash collection negates Government policies and extant regulations, as well as weakens the integrity of Federal Government e-collection and e-payment systems,” the circular said.

The memo insisted that collections or acceptance of physical cash, whether in naira or foreign currencies, for all revenues due to the Federal Government are strictly prohibited.

All such payments, the circular emphasised, must be processed electronically.

Kuku in her memo, stressed the need for strict compliance across FAAN’s formations, noting that adherence to the cashless policy had became imperative following the Federal Executive Council’s (FEC) approval.

The memo said: “Further to the approval on cessation of cash collections transactions by the Federal Executive Council, it has become expedient that FAAN complies strictly with the policy of a cashless economy by conducting all its financial and business transactions through a cashless system.
she stated.

Kuku threatened that failure to comply with the directive would attract stiff sanctions.

“Accordingly, directive is hereby given that all cash collections or transactions in the conduct of FAAN’s official businesses must stop with effect from 29th February 2026. Alternative approved payment channels should be fully adopted, and no cash transactions should be accepted beyond the stated deadline. Failure will attract stiff penalties.”