Business
FMBN Evolves System For On-Line Access Of NHF Accounts
The Federal Mortgage Bank of Nigeria (FMBN) has evolved an automation system which will enable contributors to the National Housing Fund (NHF) to access their accounts online.
A source from the bank disclosed to The Tide that the Chairman of the FMBN Board, Abdul Ogunjobi and his team have evolved strategies that will enable contributors to the NHF to have easy access to their account as part of the restructuring process.
The source quoted the Board Chairman as saying that the automation that has taken place in the mortgage bank is only available to very few other institutions, and that each contributor to the NHF can see his contribution and details of his account online, which was done manually in the past.
According to the FMBN source, a profit before tax of N300 million was made in the current accounting year while the debt profile of the organisation dropped from between N4-8 billion in past years to N3.6 billion in the current season.
Meanwhile, the National Deposit Insurance Corporation (NDIC) has begun the liquidation process of those Primary Mortgage Institutions (PMIs) it considered not viable.
The Managing Director of the Corporation, M. Ibrahim has said that they had to do a lot of search at the Corporate Affairs Commission (CAC) to determine the ownership structure of some “Invisible PMIs.”
He said, “Having gone through the search, interestingly we were able to trace only seven of them, and we are in the process of commencing liquidation such that the established depositors would be compensated adequately.”
Ibrahim also disclosed that the process of liquidation will prove to be a very difficult exercise because most of the PMIs were not rendering returns to the CBN or NDIC, and that determining the deposit liabilities of those identified institutions is a herculean task.
As part of efforts to reposition the sector, Ibrahim stated that the corporation had mapped out a frame work for possible granting of financial assistance to deserving PMIs and micro-finance banks.
It would be recalled that the CBN in 2012 directed the NDIC to liquidate the assets of 25 Primary Mortgage Institutions considered to be unviable, and a couple of months ago had cause to revoke the licnces of 25 PMIs and asked the NDIC to liquidate whatever remains of them.
The NDIC was established in 1988 to protect depositors and guarantee prompt and efficient settlement of insured funds in the event of failure of insured participating instittuions and the FMBN established in 1956, supplies the mortgage and housing markets with sustainable liquidity for the advancement of home ownership among Nigerians.
Corlins Walter
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.
