Business
Commissioner Hails Former Perm Sec On Performance
The Commissioner for Commerce and Industry, Mr. Chuma C. Chinye, has commended the former Permanent Secretary of the Minsitry, Sir Awoye Halden Bob-Manuel for his outstanding leadership qualities.
Mr Chinye made the commendation at a farewell/reception party held at the Secretariat Complex, Port Harcourt in honour of former permanent secretary and the new one.
The commissioner lauded the sterling qualities of the out-gone permanent secretary which he said, reflected in the growth and development experienced in the ministry, during his brief stay.
He expressed appreciation for the team spirit among the staff and the leadership in the ministry, stressing that without such teamwork, no meaningful development could be recorded.
Earlier in his speech, the permanent secretary of the ministry, Sir Gift Ake thanked the commissioner for the conducive working environment which exists in the ministry.
He encouraged his predecessor to continue with his leadership style in his new place of assignment, while urging the staff to be more dedicated to their duties and to always obey the rules and regulations of the civil service.
In his appreciation speech, the former permanent secretary, Sir Awoye Bob-Manuel expressed gratitude to the commissioner and staff for the corporation given to him during his stay in the ministry of commerce and industry. Sir Bob-Manuel used the occasion to advise the staff to cooperate with his successor.
The highlight of the occasion was the presentation of gifts to the out-gone permanent secretary, Sir. Awoye Halden Bob-Manuel.
In a similar development, the commissioner has called on the staff of the Ministry of Commerce and Industry to be result-oriented in order to sustain the ongoing positive changes in the ministry.
Mr Chinye, who made the call enjoined the staff to show honesty, self discipline, and conviction, pointing out that transparency and sincerity should be their watchwords. He advised that staff should desist from attitudes that were inimical to the progress of their jobs, stressing that the ongoing changes should be reflected in their behaviours.
The commissioner added that rewards for hardwork would be introduced, urging all staff of the ministry to show commitment to their duties.
He pointed out that some of the facilities provided in the ministry, such as Crèche, Staff Canteen, business centre, among others were to encourage and improve productivity.
In his response, the permanent secretary, Sir Gift Ake, thanked the commissioner for his visionary leadership and the change initiatives he was embarking on.
Sir Ake assured that he would follow due process in carrying out his legitimate duties and promised to address every issue that would improve the welfare of staff of the ministry.
He urged all staff to show dedication to duty, saying that lateness and absenteeism would not be condoned.
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.
