Kuku says “Go Cashless policy” will boost FAAN revenue by 75 percent

Managing Director/ Chief Executive of Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Kuku has affirmed that the non- aeronautical revenue of the aviation agency will be increased by three folds from its present state following the deployment of cashless system across FAAN’s airport network.

Kuku gave the assurance on Monday during the formal launched the contactless payment system, known as the ‘Go Casheless’ policy.

Speaking during the launch of the policy at the Murtala Muhammed International Airport, (MMIA) Lagos, Kuku who was represented by Director of Public Affairs and Consumer Protection, Mr. Henry Agbebiire, said FAAN is only aligning with global best practices with a policy that enjoys acceptance with global business.

She explained that FAAN is set for transparency and efficiency, that will it reshape experience across its airports network with innovative solutions, adding that the solution will be deployed to all airports after the first phase of implementation at Lagos and Abuja airports.

“Effective today, September 29, 2025, the collection of physical cash will be phased out gradually at all FAAN revenue points. This includes our airport Access Gates, Car Parks, and our VIP and Protocol Lounges. It means faster, seamless, and more secure transactions. It means saying goodbye to delays and inconveniences associated with cash handling. This move is a direct response to your demand for modern, efficient, and world-class service. Beyond convenience, this initiative is a cornerstone of our strategy for enhanced accountability and sustainable revenue growth.

“Let me be clear: 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. This is not just good for FAAN; it is a testament to our commitment to national development and fiscal responsibility. Furthermore, embracing these digital trends ensures that our airports remain competitive and aligned with global best practices. We are sending a clear message to the world that Nigeria is open for business, with infrastructure that meets international standards

“I can assure you that this will triple our revenue, the policy is not new , we have delayed for too long , we want align with global practices, it is a very transparent solution, it is in line with our six strategic business goals,” Kuku said.

Speaking at the event, Director Commercial and Business Development, FAAN, Ms. Joy Adebola Agunbiade, said the FAAN plans to totally eradicate any form of cash payment by the end of the first quarter of 2026, adding that the gradual deployment at Lagos and Abuja airports will give users and stakeholders enough time to understand the process.

Agunbiade clarified that the new payment solution does not stop the existing payment system with E-tags and Pint of Sales.

She disclosed that users can load the new card with a minimum of N1,000, out of which N500 will be deducted as the cost of the card.

According to Agunbiade, the card is for lifetime, adding that corporate bodies can have as many cards as possible for their fleet of vehicles.

Speaking on the benefits, Agunbiade said FAAN hopes to realise 50 percent increase in revenue at the pilot stage.

“For FAAN, 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. These additional funds will be strategically reinvested into further infrastructural development across our airports.

“For Airport Users: they will enjoy greater convenience, faster transactions, and reduced risk of theft. This policy also promotes financial inclusion, extending services to those with limited access to traditional banking.

“For Businesses: We have ensured that transaction costs are kept low to protect the profit margins of our business partners, and reliable internet services will be available to support seamless operations”, she emphasized.

Speaking on security features of the card, Director, Commercial and Public sector for Paystack, Fisayo Kolawole said his organisation abides by Global security standards.

Kolawole disclosed that all transactions are encrypted end to end, apart from having authentication layers for effective monitoring.

Kolawole assured users of the ability to block and unblock the card via the dashboard provided in case of loss of the card.

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