Business
SEME Customs Rakes In N963.7m In Sept
The Seme Area Command of Nigeria Customs Service committed a total of N963,796,422.32 as revenue in the month of September 2014.This is the highest monthly collection made between 2013 and 2014.
This was contained in a statement signed by the customs spokesman, Mr. Ernest Ollota(SC) and made available to The Tide in Lagos said that the patrols and other anti smuggling activities are paying off as unrepentant smugglers are fleeing the area to attempt their illegalities in other areas where they are likely to meet resistance and seizures by our sister commands.
The statement said it had deployed all personnel and available logistics to intensive vehicular and foot patrols along the border lines and all routes including non motorable areas.
In a statement signed by the customs spokesman, Mr. Ernest Ollota(SC) and made available to The Tide in Lagos said that the patrols and other anti smuggling activities are paying off as unrepentant smugglers are fleeing the area to attempt their illegalities in other areas where they are likely to meet resistance and seizures by our sister commands.
‘’In line with my CGC’s zero tolerance for smuggling, we are leaving no stone unturned in ensuring that Seme Border becomes and remains a no go area to perpetrators of smuggling and other unlawful activities. Seme will continue to be unsafe for them as we are increasing our intelligence on a daily basis on their movements which we share with other commands to achieve the same goal’’ Egbudin said.
The Comptroller added that ‘’ We will keep this tempo into and beyond the forth coming yuletide season.Our close tie with the border communities under a reinforced Customs Community Relations Forum will be sustained as we are employing enlightenment and persuasion as tools for zero casualty in achieving our anti smuggling drive. We are happy that some traditional rulers, community chiefs, youth leaders and residents of border communities are cooperating with us in the strive to protect our national economy and ensure security of our people’’
‘’We are in close liaison with the Port Health Service, other government and non government bodies to sustain Nigeria’s Ebola free status. Aside the regular check of travelers and traders moving along our border route, we also ensure that our operatives adhere to all anti Ebola directives.’’
‘’Our vigilance against Ebola is premised on the fact that Seme Border is the busiest land frontier in West Africa with the highest movement of persons in and out of the evolving mega city of Lagos. We are not taking chances’’ Egbudin concluded.
Egbudin reiterated that our functions of suppressing smuggling, collection of revenue and facilitating legitimate trade will not be compromised .
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.
