Olubunmi Kuku, managing director of the Federal Airports Authority of Nigeria (FAAN), says the introduction of its contactless payment system at Lagos and Abuja airports would triple the authority’s revenue.

Ms Kuku said this on Monday at the pilot launch of “Operation Go Cashless” at Murtala Muhammed International Airport, Lagos.

Represented by the director of public affairs and consumer protection, Henry Agbebire, the FAAN boss said the initiative would directly enhance the authority’s non-aeronautical revenue assurance capabilities, ensuring that every naira due to FAAN is duly collected and accounted for.

She said this was not just good for FAAN but also a testament to the authority’s commitment to national development and fiscal responsibility.

Ms Kuku said that by significantly reducing reliance on physical cash, FAAN was building a system that is inherently more transparent, where every transaction would be electronically traceable and secure.

“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,” she said.

According to her, FAAN had deployed trained brand ambassadors at access gates and terminal areas to ensure the success of the new initiative.

“Their role is to guide you, assist with onboarding, provide live demonstrations, and answer any questions you may have,” she said.

Ms Kuku said that introducing the FAAN Go Cashless card, available at all airport access gates in Lagos and Abuja, encouraged airport users to collect, activate, and fund it immediately.

“Following the successful implementation in Lagos and Abuja, we will systematically expand this cashless policy to all other airports nationwide in a phased manner,” Ms Kuku said.

She said that effective Monday, September 29, the collection of physical cash would be phased out gradually at all FAAN revenue points.

“These include our airport access gates, car parks, and our VIP and protocol lounges,” she said.

Ms Kuku said the initiative in a strategic partnership with Paystack was made possible by President Bola Tinubu and the Minister of Aviation and Aerospace Development, Festus Keyamo.

FAAN’s director of commercial and business development, Joy Agunbiade, projected a 50 per cent revenue collection increase with the system in place.

“From this pilot stage alone, we expect to increase to 75 per cent as we integrate more points with the goal of tripling our revenue within the first year of full implementation.

“This additional fund will be strategically reinvested into further infrastructure development across our airports in Nigeria,” she said.

She added that cash collection at the airport would gradually phase out, and by the first quarter of 2026, cash payments at airport access points would be totally eliminated.

Fisayo Kolawole, the director of commercials at Paystack, said the FAAN cashless policy is the biggest contactless payment use case in Nigeria.

(NAN)