Business
NLRC To Clampdown On Illegal Lottery Operators
Hard times await illegal lottery operators in Rivers, Bayelsa and Cross River States, as the National Lottery Regulatory Commission (NLRC) commences the enforcement and monitoring of illegal operations of lottery, promo and raffle draws in the zone.
In a statement made available to The Tide on Monday, the zonal coordinator, Peterson Evi-Parker warned that any lottery, raffle draw or promo that is not endorsed by the NLRC is operating illegally, and that all operators in the industry are mandated to obtain necessary permits and licenses or regularise their status to avoid any disruptions to their business.
He advised the general public not to participate but to report such activities to the commission, as it will not hesitate to act swiftly and without further notice in fishing out unsolicited operators in the lottery industry.
It would be recalled that NLRC was established under Section 1 of the National Lottery Act 2005 to police the lottery industry in Nigeria, with a view to bringing fair play and transparency to the sector.
According to the Zonal Coordinator, “apart from the built-in-chances of winning prizes of various types, a proportion of money staked goes to the National Lottery Trust Fund (NLTF) and distributed for good causes.”
He regretted that the illegal operators are not only starving the country of much needed revenue for development, but also cheating the public in funds for good causes, such as health, education and arts & culture, saying that all over the world lottery money is used to support good causes, which NLRC is advocating in addition to credible and transparent lottery enterprise.
Evi-Parker, posited that the NLRC mandate is to safeguard the interest of the public and that the commission is determined to promote a transparent and healthy lottery industry that benefits the individual and the country as a whole. Assuring that the interest of the lottery playing public is protected and not short-changed anytime they go out to buy a lottery ticket or enter a “play and win” promotion.
Cornerstone of Financial Services
A survey of more than 1 000 global finance leaders undertaken by digital payment network Ripple shows that 72% of respondents believe they need to offer a digital asset solution to remain competitive.
According to Ripple, leaders from the banking, fintech, corporate and asset management sector have made it clear that the “digital asset revolution is happening now”.
“Digital assets are quickly becoming a cornerstone of financial services, underpinned by progressive regulation, growing interest from Tier-1 banks, a steady consumer shift from banks to fintech providers, and booming stablecoin adoption,” Ripple says.
The survey was conducted in early 2026 and the findings released in March.
Stablecoin Boon or Bane?
Ripple has experienced significant success in the stablecoin sector since launching its Ripple USD (RLUSD) stablecoin in 2024.
With a market cap of $1.56 billion, it is considered a major regulated player in the market.
No doubt the platform was pleased to learn through its own survey that financial leaders were most bullish about stablecoins.
Roughly three-quarters of respondents believed they could boost cash-flow efficiency and unlock trapped working capital.
Ripple noted that finance leaders were thinking about stablecoins as more than “just a new way to execute payments”; instead, they viewed them as effective tools for treasury management.
In March 2026, Ripple began testing a new trade finance model built around RLUSD in a bid to increase the speed of cross-border payments.
The pilot initiative, developed alongside supply chain finance company Unloq [https://unloq.com], is running on the XRP Ledger inside a testing framework developed by the Monetary Authority of Singapore.
The Asian city-state is one of the platform’s biggest growth markets.
The idea behind the project is to see whether stablecoin-based settlement can streamline trade finance, too often hampered by reliance on intermediaries and slow reconciliation.
The only potential drawback is that if the initiative takes off, the Ripple to USD price could be negatively affected.
Ripple has always championed its native XRP token as a bridge asset, the “middleman” in the process of a financial institution turning dollars in the US into pounds in the UK, for example.
Ripple converts dollars into XRP and then back into pounds.
If RLUSD can do exactly the same thing, questions will be asked about XRP’s relevance.
That is a bridge Ripple will have to cross if it gets to that point.
Tokenisation Partners
Another interesting finding from Ripple’s survey is that most banks and asset managers are seeking tokenisation partners to help execute their strategies.
Some 89% of respondents said digital asset storage and custody were top priority. “Token servicing/lifecycle management also ranks highly for banks at 82%, while asset managers place greater emphasis on primary distribution at 80%,” Ripple found.
The survey also revealed that just more than half of fintechs and financial institutions want an infrastructure provider that can offer a “one-stop-shop solution”. This rose to 71% among corporate financial leaders.
Ripple attributes this to institutions and firms wanting uncomplicated, cohesive systems.
Infrastructure Rules
In its final analysis, Ripple says companies across the board are looking for partners and solutions that are “secure, compliant, battle-tested and that enable growth and execution”.
“The message is clear: infrastructure decisions made today will shape competitive positioning tomorrow.”
No surprise that this is precisely where Ripple is placing much of its focus.
