NAMA Demands Cashless Payments

Fola Akinkuotu

In a bid to ensure total compliance to the presidential directive on the implementation of Treasury Single Account (TSA), the Nigerian Airspace Management Agency (NAMA) has held a sensitisation forum with agents and representatives of operators of non-scheduled flights in the country on the imperative of the TSA regime of the Buhari administration.

The event, which took place in Lagos was targeted among other things, at dialoguing with operators and fashioning out ways to address concerns arising from the process of adjusting to the new cashless payment system since it came into operation last year.

In his remarks, the Managing Director of NAMA, Capt. Fola Akinkuotu, said there was no going back on the federal government cashless policy and that it was an executive pronouncement that demanded total compliance from all stakeholders.

He appealed to non-scheduled operators to “embrace the new initiative as the entire world is going cashless,” assuring them that the new system would yield positive results that would benefit the entire industry.

“This is an innovation that would not only improve and sanitise the nation’s financial system but also ensure accountability and transparency in the long run. If we desire an aviation industry that is globally competitive, we have to imbibe global best practices,” Akinkuotu said.

He added that the associated risk and needless exposure associated with the old system of carrying cash around ensured that it was no longer fashionable.

Explaining further, the NAMA boss said as contained in the directive, all financial transactions with the agency must be done through monetary transfers (only) into the NAMA TSA account domiciled with the Central Bank of Nigeria (CBN).