Business
FG Set To Sell Off Nigeria Communications Satellite
The Federal Government
has indicated its intention of selling off the Nigerian Communications Satellite Limited (NICOMSAT).
This was revealed by the Director General of the Bureau of Public Enterprises (BPE) Mr. Benjamin Dikki when the Director-General of the National Space Research and Development Agency, Prof. Seidu Mohammed paid him a courtesy visit.
A statement signed by the Acting Head of Public Communications, BPE, Mr. Alex Okoh, and made available to The Tide, said it was necessary to inject entrepreneurial spirit into Nigcomsat in order to make the company commercially viable. He explained that in privatizing Nigconsat, the security of the nation would not be compromised.
According to him, the BPE would strategise and evaluate how much private sector participation would be required in the company to drive its growth.
Dikki stressed that the BPE would rely on informed guidance from key stakeholders to determine the model of privatisation to be recommended to the National Council on Privatisation for adoption in the privalisation of Nigcomsat.
He said that in executing the transaction the Joint Delivery Team, comprising the BPE, the Ministry of Communication Technology, NASRDA and other key stakeholders would be empanelled for the purpose.
According to him, information and communications technology that encompasses satellite systems and telecommunications is critical to the growth of any nation.
Mohammed said the purpose of the visit was to appraise the BPE of the activities of his agency and to seek more clarification on the planned privalisation of Nigcomsat.
The NASRDA boss explained that there was a need for communication satellite for all Nigerians as it was vital not only for telecommunications but also for earth characterization to support the agricultural sector of the country.
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.
