We're resolve to stop 50 years of corrupt Cash Payment System at Nigeria's Airports, says Minister

The Minister of Aviation and Aerospace Development, Festus Keyamo, has affirmed that there is no going back on cashless policy, at the  nation`s airports.

Keyamo made the assertion on Friday, at the Nnamdi Azikiwe International Airport (NAIA) Abuja, during on-the-spot assessment of  hybrid payment system newly adopted by the government

The hybrid payment was adopted, following President Bola Tinubu’s  directive to suspend full cashless implementation.

The minister however, explained that the government was only  considering the people that were yet to obtain Federal Airports Authority of Nigeria (FAAN) cashless card to be using cash pending  the nation’s full migration to cashless system.

“We decided to go back to the drawing boards to see what we can do to prevent revenue loss and  ease the traffic.

“That was the reason why  we came up with this hybrid system now.

“So, those who have the cards already, can continue  using their cards, as such  money goes straight into Treasury Single Account (TSA), which is the federation account.

“Look, there is no going back on the cashless system. It is too late for those who think they can frustrate the cashless system because they like the  cash collection system.

“This nation has passed such a stage. There is  limited time left for the hybrid system,”. Keyamo stressed.

The minister reiterated the existing federal government’s directive that no federal agency should ever collect cash.

Keyamo disclosed that the government had started discussing with concessionaires, who would come and make the airports fully automated.

He reiterated the government resolve to stop the corrupt cash payment system at the nation’s airports which has lingered for 50 years.

The President had directed the temporary suspension of the cashless payment system at Nigerian airport toll gates because of its sudden implementation.

The rushed implementation had caused severe traffic congestion and long queues of vehicles, making it difficult for motorists to complete electronic payments quickly.

The delays led to passengers arriving late at the terminals and missing their flights, creating hardship and operational disruptions at major airports.

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Tinubu names Fola Adeola Head of Task Force to produce Blueprints for Nigeria’s Petroleum Sector

President Bola Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to design the next phase of reforms in Nigeria’s petroleum sector.

This is contained in a statement issued by Presidential Spokesperson, Bayo Onanuga on Friday in Abuja.

Tinubu appointed Fola Adeola, co-founder of Guaranty Trust Bank and founder of Fate Foundation, as chairman of the task force.

Adeola will coordinate the group’s activities and ensure the timely delivery of its mandate.

Other members include Ademola Adeyemi-Bero, Osagie Okunbor, Abubakar Suleiman, Adaeze Aguele, Farouk Gumel, Phillipa Osakwe-Okoye and Seyi Bella.

Mofoluwasho Fadayomi will serve as secretary of the task force.

According to Onanuga, the group is a time-bound executive working body mandated to produce execution-ready reform blueprints for Nigeria’s petroleum industry.

“The task force will consolidate ongoing reforms, unlock capital within the sector and strengthen Nigeria’s position as a global energy investment destination,” he said.

He added that the initiative reflected the President’s commitment to building a competitive, transparent and value-driven petroleum industry.

“The task force will function as a technical reform body rather than a representative committee,” Onanuga said.

He said the group would engage industry operators, regulators, investors and civil society organisations.

“The focus will remain on actionable policy design and implementation strategies,” he said.

Onanuga said the task force would report directly to the president and submit monthly progress memoranda.

He added that an interim report would be delivered after three months, while the final report is expected within six months of inauguration.

Tinubu expects the task force to produce three major reform blueprints.

One deliverable is an implementation toolkit for immediate structural fixes, including draft legislative amendments, executive instruments and institutional restructuring proposals.

Another is a Capital and Liquidity Acceleration Blueprint designed to unlock between five and ten billion dollars in sectoral liquidity.

The blueprint is also expected to safeguard Nigeria’s sovereign interests while attracting investment into the industry.

The third deliverable is a National Energy Transformation Strategy.

The strategy will provide a ten-year roadmap with measurable targets for production, foreign exchange earnings, GDP contribution and cost competitiveness.

Tinubu directed all ministries, departments and agencies in the sector to provide full technical support to the task force.

He also instructed them to submit inventories of ongoing initiatives to ensure alignment with the emerging reform framework.

The President further directed existing committees and reform teams in the petroleum sector to align their activities with the new task force.

The move, according to Onanuga, will prevent duplication of mandates and ensure institutional coordination.

“All relevant documentation and ongoing workstreams must be made available to support the task force’s work,” he said.

The task force will automatically dissolve after submitting and securing acceptance of its final report.

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It's now Drill or Drop, Era of Dormant Oil Licences gone for good - NUPRC