Business
Customs Generates N903bn Revenue
The Comptroller General
of Customs (CGC), Hammed Ali disclosed that the Nigeria Customs Service generated a sum of N903 billion in 2015, out of the targeted N954 billion set for the outfit by the Federal Government.
Ali who made this known in a chat with journalists after decorating newly promoted officers in Abuja, alledged that the restriction order on forex by the Central Bank of Nigeria (CBN) on the importation of 41 items was responsible for the shortfall of N250 billion recorded last year.
He assured that the service will surpass its target in 2016, as they have put all machineries in motion to achieve set target, saying “I hope also that government will once again look at those policies and see how they can be fine tuned.”
The Customs boss expressed optimism that no matter what, the 2016 target will be achieved following assurance during his familliarisation visit and tour to various commands, where he enjoined officers and men to redouble their efforts as well as help the agency correct the bad impression by the public.
Ali further stated that he had charged the newly promoted officers to rededicate themselves to hardwork and commitment to nation building through efficient and effective service delivery.
He said their promotion was purely on merit devoid of lobbying and external influence, adding that they should strive and live up to expectation to justify their new ranks.
“We must deliver on our mandate and work towards making 2016 the best year in the Nigeria Customs Service.
My mission is to make sure we clean ourselves of all the bad impression that we carry along, my mission is to ensure that we meet all the mandate set for us by the government and I believe that all of you will have no other mission than to fall in with that and make sure that 2016 is put on the record as one of the best years of the NCS.
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.
