Advertisement
The Federal Airports Authority of Nigeria (FAAN) has set the first quarter of 2026 as the deadline to fully go cashless. Officials confirmed that the transition will be gradual, beginning with Lagos and Abuja airports before extending nationwide in phases.
Director Commercial and Business Development, Ms. Adebola Agunbiade, explained the process would not be open-ended. “The plan is to totally eradicate cash by the first quarter of next year. We will phase it gate by gate until we achieve complete coverage,” she said. According to her, the Go Cashless initiative gives passengers time to adapt while ensuring the process stays on track.
Ms. Agunbiade clarified that agencies already using FAAN’s e-tax platform could continue uninterrupted. “For others, the FAAN Go Cashless card is available. Passengers can collect it, load as little as one thousand naira, and use it seamlessly at airports,” Adebola stated.
-
In no particular order, Paystack representative, Mr. Fisayo Kolawole; Director of Public Affairs and Consumer Protection, Mr. Henry Abegbire (representing FAAN Managing Director, Mrs. Olubunmi Kuku); Director of Commercial and Business Development, Ms. Joy Adebola; alongside other members of the FAAN management team, proudly displaying the newly introduced Go Cashless card during the official launch at the Murtala Muhammed International Airport, Lagos.
Managing Director and Chief Executive, Mrs. Olubunmi Kuku, represented by Director of Public Affairs and Consumer Protection, Mr. Henry Abegbire, described the reform as transformative.
“Today, we are not just launching a payment system,” she said. “We are reshaping airport experiences and reinforcing our commitment to accountability, transparency, and excellence.”
Kuku emphasized that the Go Cashless project aligns with FAAN’s six strategic pillars for the year. “Every naira due to FAAN will now be collected and accounted for. With Go Cashless, we are ensuring efficiency while showing the world Nigeria’s readiness with global-standard infrastructure,” she declared.
The initiative, powered by Paystack, will replace physical cash at FAAN’s revenue points, including access gates, car parks, and lounges. Kuku said the project represents more than financial reform. “By reducing reliance on physical cash, we are creating a transparent, traceable, and secure system. This is a testament to our commitment to national development,” she stressed.
Paystack Director Commercial, Mr. Fisayo Kolawole, assured stakeholders of the card’s security features. “Fraud prevention was at the forefront of this partnership. Paystack is a PCI DSS Level 1 service provider, the highest global standard. Every transaction follows rigorous encryption, storage, and transmission requirements,” he said.
Kolawole explained that card data is encrypted and tokenized, making unauthorized use impossible. “Even if someone physically holds the card, they cannot use it fraudulently. Every detail is protected end-to-end using TLS and SSL protocols,” he explained. He added that Paystack never stores sensitive card data in plain text.
Fraud detection, he continued, uses machine learning models customized for Nigeria. “We run real-time fraud monitoring across every transaction. Suspicious activities trigger automatic checks and 3D Secure authentication, requiring OTPs or biometrics. Only authorized users can transact,” he assured.
Explaining the financial and operational impact of the go cashless transition, DCBD, Ms. Agunbiade, described the initiative as a win-win for FAAN, airport users, and businesses.
“For FAAN, we project a 50 percent increase in revenue collection at this pilot stage, rising to 75 percent as we integrate more revenue points, with the goal of tripling revenue within the first year of full implementation,” she stated. “These additional funds will be strategically reinvested into further infrastructural development across our airports.”
She noted that passengers would be among the first to benefit from the reform. “For airport users, this is about greater convenience, faster transactions, and reduced risk of theft. The policy also promotes financial inclusion by extending services to those with limited access to traditional banking.”
Adebola assured that FAAN had taken into account the concerns of business operators at its airports.
The launch event’s highlight was a live demonstration of the onboarding and card usage process. Brand ambassadors guided participants at access gates, showing how to activate the FAAN Go Cashless card, load funds, and complete transactions.
Stakeholders, agency representatives, and media observers watched payments processed within seconds at the airport gate. The demonstration showcased transparency, speed, and security, giving attendees confidence in the initiative. “This live display is meant to build trust and demonstrate FAAN’s readiness to eliminate inefficiencies in cash handling,” Kuku explained.
Kolawole called the project a historic step. “This is the first and biggest contactless payments use case in Africa. By embedding digital payments into critical infrastructure, we are laying the foundation for a truly cashless Nigeria,” he said.
Kuku praised Adebola and her team for delivering the project and insisted FAAN would not retreat from the reform. “The world is marching forward, and FAAN is determined to align with global best practices. With Go Cashless, we are not just improving our processes, we are redefining the future of Nigerian aviation. Rest assured, we are moving forward,” she concluded.
—
Advertisement
