By Sade Williams
The Federal Airports Authority of Nigeria (FAAN) on Monday formally launched the contactless payment system, known as the ‘Go Casheless’ policy, saying the solution will triple its revenue.
Speaking during the launch of the policy at the Murtala Muhammed International Airport, Lagos, Olubunmi Kuku,managing director of the Authority, represented by Henry Agbebiire, director of public affairs and consumer protection,Kuku said FAAN is only aligning with global best practices as the policy is not new to the world of business.
She said the Authority is poised for transparency and efficiency, adding that it is reshaping the experience at airports with innovative solutions.
She said 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 to align with global practices, it is a very transparent solution, it is in line without six strategic business goals,” Kuku said.
Also speaking, Joy Adebola Agunbiade, director, commercial and business development, FAAN said the Authority plans to totally phase out cash payment by the end of the first quarter of 2026, adding that the gradual deployment from Lagos and Abuja airports will give users and stakeholders the ample time to understand the process .
She disclosed that the new payment solution does not stop the existing payment system with E-tags and Pint of Sales , adding that users can load the new card with a minimum of N1,000, can have multiple cards without expiration.
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% 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. 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 said.
Speaking on security features of the card, Fisayo Kolawole, director, commercial and public sector for Paystack, the company replying the system in conjunction with FAAN, said the company abides by Global security standards.
He added that all transactions are encrypted end to end, apart from having authentication layers for effective monitoring.
