FAAN Introduces Cashless Payment at Nigerian Airports, Projects Over 50% Rise in Revenue

• FAAN has kicked off its cashless payment system at Nigerian airports with a pilot phase in Lagos and Abuja.
• The new payment method is expected to boost FAAN’s revenue, with a target of nationwide expansion in Q1 2025.
• The cashless system will be implemented at access gates, car parks, and lounges and FAAN is targeting full implementation by the first quarter of 2026

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Federal Airports Authority of Nigeria (FAAN) has rolled out a cashless payment system across its operations, beginning with the Murtala Muhammed International Airport in Lagos and the Nnamdi Azikiwe International Airport in Abuja,

FAAN said in a statement on Monday, September 29 that the initiative, branded “Operations Go Cashless,” will replace cash transactions at access gates, car parks and VIP lounges.

The programme is being implemented in partnership with financial technology firm Paystack.

FAAN sets targets

FAAN officials have expressed excitement about the cashless system it would improve service quality and signal that Nigeria’s airports are ready for modern, technology-driven business.

They believe it will boost efficiency at the airports and also increase revenue.

For revenue a projection of 50% increase is expected and could rise by 75% as the scheme expands.

Olubunmi Kuku, FAAN’s managing director explaining the initiative explained that the reform was part of a broader plan to automate operations and align Nigeria’s airports with global standards, the Nation reports.

Kuku added:

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

She added that the additional income would be reinvested in airport infrastructure.

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FAAN added that brand ambassadors had been deployed across terminals to guide travelers, assist with onboarding and provide demonstrations.

Kukurevealed that Passengers can obtain and activate a FAAN Go Cashless Card at airport access gates in Lagos and Abuja

“The card which is N500 is a one time payment. 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, enhancing revenue assurance and accountability.”

Also speaking, FAAN’s Director of Commercial and Business Development, Adebola Agunbiade, said the system was built on four pillars: operational efficiency, smoother passenger experience, improved revenue collection and alignment with global best practices, BusinessDay reports.

Paystack promises security

Paystack executives assured that the platform meets the highest security standards.

Fisayo Kolawole, Paystack’s Director of Commerce added:

“Fraud prevention was at the forefront of this partnership,” said “Card data is encrypted and tokenised, making unauthorised use impossible.”

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Another international airport begins operation

Earlier, Legit.ng reportd that the Ogun State Government has announced that the Gateway International Airport, Iperu, will receive its first commercial flight on October 7, 2025.

The airport was commissioned on August 15, 2025, after securing an Aerodrome Operational Permit from the Nigerian Civil Aviation Authority (NCAA).

The permit confirmed that the facility met the regulatory standards required to begin full commercial operations.

Source: Legit.ng