President Bola Ahmed Tinubu has ordered the immediate suspension of the recently implemented cashless payment system at Nigerian airports. The directive, announced on Wednesday, comes as a direct response to severe operational disruptions and passenger distress reported at major travel hubs across the country.
The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the presidential order to journalists at the State House in Abuja. He confirmed that the policy, intended to modernize transactions at airport toll gates and other points, had instead created long, chaotic queues. These delays were so significant that numerous air travelers missed their scheduled flights, undermining the efficiency of the nation's aviation infrastructure.
Keyamo's announcement followed the weekly Federal Executive Council (FEC) meeting, presided over by President Tinubu himself. The FEC serves as Nigeria's highest executive decision-making body, indicating the issue was treated with utmost urgency at the highest level of government. The suspension represents a swift administrative reversal aimed at alleviating immediate public inconvenience while a comprehensive review is likely conducted.
Senate Moves on Financial Regulation
In a separate but related development concerning national financial governance, the Nigerian Senate advanced proposed legislation on Wednesday aimed at strengthening regulatory oversight. The bills seek to empower the Central Bank of Nigeria (CBN) with greater authority over financial technology (fintech) operations within the country.
This legislative push reflects growing concerns among lawmakers about the rapid, sometimes unchecked, expansion of digital finance. The goal is to establish a more robust regulatory framework to match the pace of innovation and protect consumers.
Concurrently, the upper chamber of the National Assembly is considering tougher legislative measures specifically designed to curb Ponzi scheme fraud. This initiative highlights a dual focus: fostering fintech innovation while implementing stronger safeguards against the financial fraud that has plagued many Nigerian investors.
The simultaneous suspension of a problematic government policy and the advancement of proactive financial legislation marks a significant day for Nigerian public administration and economic governance.
