FAAN Phases Out Cash Transactions at Lagos, Abuja Airports
By Admin, September 30, 2025
The Federal Airports Authority of Nigeria (FAAN) has inaugurated a major digital initiative, “Operation Go Cashless,” to implement a comprehensive, contactless payment system across the nation’s airports, beginning with a pilot phase in Lagos and Abuja.
The initiative, launched in partnership with financial technology company Paystack, marks a significant step in FAAN’s digital transformation strategy.
Effective September 29, 2025, physical cash transactions will be gradually phased out at all FAAN revenue points.
The cashless system will be deployed at high-traffic areas to reduce congestion and improve the passenger experience.
Key points include:
Airport Access Gates
Car Parks
FAAN VIP and Protocol Lounges
Other designated payment points.
At the launch event in Lagos, FAAN Managing Director Olubunmi Kuku, represented by Henry Agbebire, Director of Public Affairs and Consumer Protection, outlined the strategic benefits.
“By significantly reducing our reliance on physical cash, we are building a system that is inherently more transparent, “Every transaction will be electronic, traceable, and secure. This directly enhances our revenue assurance capabilities, ensuring that every Naira due to the Authority is duly collected and accounted for.” Kuku stated.
The authority projects substantial financial gains from the new system.
“We project a 50 percent increase in revenue collection at this pilot stage, rising to 75 percent as we integrate more points, with the goal of tripling revenue within the first year of full implementation,” Kuku explained. She added that these additional funds will be strategically reinvested into airport infrastructure development.
Adebola Agunbiade, FAAN’s Director of Commercial and Business Development, highlighted the operational impact, noting that with over 300,000 vehicular entrances monthly at the Lagos and Abuja gates, the contactless system will eliminate human involvement in cash collection, thereby removing opportunities for revenue leakage.
For passengers, the initiative promises faster, more secure transactions.
To ensure a smooth transition, FAAN has deployed trained brand ambassadors at access gates to provide live demonstrations and assistance.
On security, Paystack Director of Commerce, Fisayo Kolawole, assured stakeholders that fraud prevention is a top priority.
“Paystack is a PCI DSS Level 1 service provider, the highest global standard,” Kolawole stated.
He detailed that card data is encrypted and tokenized, and the system uses machine learning models for real-time fraud monitoring, requiring additional authentication for suspicious activities.
“Even if someone physically holds the card, they cannot use it fraudulently. Every detail is protected end-to-end,” he assured.
The “Operation Go Cashless” initiative is designed to align Nigerian airports with global best practices, fostering a future of seamless access, operational excellence, and sustainable growth.
