Airports Authority Unveils Cashless Policy, Targets 75% Revenue Increase

The Federal Airports Authority of Nigeria (FAAN) has targeted a 75 per cent increase in its revenue as it integrates its new cashless policy in more points across the airports.

Speaking during the launch of ‘Operations Go Cashless’ at the Murtala Muhammed International Airport, Lagos (MMIA) on Monday, the managing director of FAAN, Olubunmi Kuku, said the authority had set the first quarter of 2026 as the deadline for the agency to go cashless fully.

The FAAN MD, who was represented by the Director, Public Affairs and Consumer Protection, Henry Agbebire, explained that the agency is not just launching a new payment system but also reshaping the airport experience and reinforcing its commitment to accountability, transparency, and excellence.

“We project a 50 per cent increase in revenue collection at this pilot stage, rising to 75 per cent as we integrate more points, to triple revenue within the first year of full implementation.”

Kuku said the additional funds would be strategically reinvested into further infrastructural development across the airports.

Kuku said the initiative, carried out in partnership with Paystack, would create a comprehensive, cashless, and contactless payment solution that will be deployed across all airports.

She said the agency would begin the national rollout with its flagship international gateways: the Murtala Muhammed International Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja.

Kuku said that, effective Monday, September 29, 2025, physical cash collection would be phased out gradually at all the FAAN revenue points, including the airport access gates, car parks, and VIP and protocol lounges.

She assured that the initiative would mean faster, seamless, and more secure transactions for passengers and a goodbye to delays and inconveniences associated with cash handling. She added that the move is a direct response to demand for modern, efficient, and world-class service.

“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,” Kuku explained.

The MD said trained brand ambassadors had  been deployed at access gates and terminal areas. Their role is to guide passengers, assist with onboarding, provide live demonstrations, and answer any questions passengers may have.

The director of Commercial and Business Development, Adebola Agunbiade, FAAN, said the ‘Go-Cashless’ vision was  built on four key pillars, which include significantly enhancing operational efficiency.

She disclosed that the policy would reduce congestion and delays for a smoother passenger experience, improve revenue collection and accountability, and align FAAN with global best practices for seamless airport access and service delivery.

“We are phasing out cash transactions at all participating FAAN revenue points. Our technology partner, Paystack, has deployed contactless payment terminals at our access gates, car parks and VIP lounges. This means that each motorist and customer will use their own contactless card for payment. Human involvement in cash collection will be eliminated, thereby removing opportunities for revenue leakage and ensuring that every Naira is accounted for.

“The technological backbone of this system is robust. Paystack has designed a closed-loop system where NFC card readers are seamlessly connected to their payment infrastructure. Each tap is instantly validated and authorised, ensuring reliability even in our high-traffic airport environments,” Agunbiade explained.

She disclosed that the airport’s access gates in Lagos and Abuja record over three hundred thousand vehicular entrances every month. Our VIP and Protocol lounges serve thousands yearly, and we believe we can improve the quality of service to our customers when we can receive payments conveniently and transparently.