Business
Experts, Operators Differ On Naira Free Fall
Some Nigerians have be
moaned the sustained free fall of the Naira and its consequence on the proposed national economic rejuvenation.
They told newsmen in Lagos that the depreciation of the Naira was tied to the absence of a defined economic blue print and bureaucrats to manage the economy.
Dr Chijioke Mgbame, a lecturer in the Department of Accountancy, University of Benin, said that the fluctuation of the Naira made it difficult for businesses to make projections.
Mgbame said that the hallmark of any good business plan lay in a stable exchange rate, price stability and business forecast.
The don also said that the fall in a nation’s currency would definitely lead to price hike for import dependent economy.
He expressed disappointment at the orthodox approach being deployed to rescue the Naira from further nose diving.
Dr Evans Osabuohien, an economist in the Department of Economics and Development, Covenant University, Ota, Ogun, said that the recovery of the American economy was mounting pressures on the Naira.
Osabuohien said that the currencies of other African countries such as the Kenyan and Ugandan shillings were also not insulated from experiencing fluctuations in their values.
Mr Silvanus Ibe, an importer of electronics, said that the rise and fall of the Naira was having a serious toll on his business.
“Those of us in the import business are saddled with the responsibility of explaining to our customers the reason behind the rise in the price of our products, before they decide to buy.
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.
