September 29, (THEWILL) — The Federal Airports Authority of Nigeria (FAAN) has set the first quarter of 2026 as the deadline to fully go cashless at the nation’s airports.
This is just as the Authority has equally projected an increase of 75 percent in revenues generated as it integrates its new cashless policy in more points across the airports.
Speaking during the launch of the ‘Operations Go Cashless’, at the Murtala Muhammed International Airport (MMIA), Lagos, on Monday, the Managing Director, FAAN, Olubunmi Kuku, said, “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 said these additional funds will be strategically reinvested into further infrastructural development across the airports.
The MD, who was represented by Henry Agbebire, the Director, Public Affairs and Consumer Protection, explained that the agency is not just launching a new payment system, but fundamentally reshaping the experience at the airports and reinforcing commitment to accountability, transparency, and excellence.
Kuku said the initiative, which is carried out in partnership with Paystack, would birth a comprehensive, cashless and contactless payment solution that will be deployed across all airports.
She added that the agency will begin the national rollout with its flagship international gateways: the Murtala Muhammed International Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja.
Also speaking at the event, the Director, Commercial and Business Development, FAAN, Adebola Agunbiade, said the ‘Go-Cashless’ vision is built on four key pillars, which include significantly enhancing operational efficiency; reducing congestion and delays for a smoother passenger experience; improving revenue collection and accountability; and aligning 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 every month, the airport’s access gates in Lagos and Abuja record over three hundred thousand vehicular entrances, respectively. “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.”
Paystack Director of Commerce, Fisayo Kolawole, equally 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 tokenised, making unauthorised 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.
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
