Business
NIMASA Tasks Border Communities On Human Capacity Dev
Border communities in the riverine areas have been urged to key into the human capacity development programmes of the Nigerian Maritime Administration and Safety Agency (NIMASA) as a way of partnering with the federal government.
The co-ordinator of the Eastern Zone, of NIMASA, Mr. Anthony Ogadi, made the call in a paper, “Promoting Maritime Security and Economic Activities in the Nigerian Waters: The Role of Border Communities in the Riverine Areas,” presented at a one-day sensitisation workshop organised by the Ministry of Foreign Affairs at the Conference Hall, Ijaw House, Yenagoa, Bayelsa State last Thursday.
Mr. Ogadi said border communities in the riverine areas should set up maritime marshals that would assist in intelligence gathering on security issues, act as link to government agencies within their dormain, propagate grassroots programmes and projects on security awareness and human capacity development as well as form virtual seafarers pool for NIMASA.
According to him, “with these bridging initiatives by NIMASA and the participation of local communities over time, to key into government programmes, the anticipated synergy and trust would have been developed which would in turn diffuse the current state of insecurity and positively impact the socio-economic development of the communities”.
He disclosed that Nigerian Seafarers Development Programme (NSDP), founded in 2008 in collaboration with some states was in line with the International Maritime Organisation (IMO).
The NIMASA Zonal co-ordinator further stated that the projection of NSDP had been to create 250,000 jobs in the seafarers profession by 2025, with a target of training 5,000 Nigerians in the next 10 years as seafarers to graduate as maritime engineers, nautical scientists and naval architects.
Ogadi hinted that 800 cadets are being trained under the federal and state governments in partnership with maritime institutions in Singapore, Malasia, United Kingdom, Turkey, Philippines and India.
He said 1,500 seafarers, which included 1,300 cadets and 200 ratings are being trained under the full NIMASA sponsorship scheme, adding that the role of NIMASA includes promotion of the development of indigenous commercial shipping in international and coastal shipping trade, regulate and promote maritime safety, security, marine pollution and maritime labour.
He however noted some consequent socio-economic problems which according to him include emergence of sophisticated crime such as kidnapping, piracy, sea robbery, pipeline vandalism, militant agitation, youth restiveness among others.
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.
