Business
FRSC Does Not Sell Speed Limiting Device – Official
The Federal Road Safety Commission (FSRC) has re-affirmed its position of non-involvement in the marketing of speed limiting devices for vehicles in the country.
Spokesman of the agency, Mr Bisi Kazeem, told newsmen in Abuja last week that accredited vendors were in charge of sale and calibration of the device.
There are accredited vendors screened by the Standards Organisation of Nigeria (SON), the National Automotive Design and Development Council (NADDC) and FRSC.
They are the ones in charge of sale and calibration of the speed limiting device, not the FRSC,’’ he said.
Kazeem was reacting to Thursday’s move by the Senate to stop the ongoing enforcement of the installation of the speed limiting device on vehicles by the FRSC.
The President of the Senate, Sen. Bukola Saraki, had asked the Committee on Federal Character to look into the matter following a point of order raised by Sen. Dino Melaye.
Media reports quoted Melaye as saying “the proposal by the FRSC to sell speed limiting device to car owners’’ would cause further economic hardship for Nigerians.
If you have two cars you buy two speed limiting devices. This is not the time to bring economic hardship upon the already traumatised people of this country.
In every civilised part of the world, it is the responsibility of road safety authorities or agencies to mount speed limiting devices on roads, and when you beat this speed, they charge you.
To ask individuals to purchase the speed limiting device from road safety is unacceptable and this is even not the time to do it,” Melaye was quoted as saying.
The FRSC began full enforcement of the installation of the device, which costs N35, 000, on commercial vehicles on February 1, and planned to extend it to other categories of vehicles in due course.
Kazeem said introduction of the policy was within the mandate of the commission, noting that the enforcement began since February 1, and not about to begin as stated by the senator.
He added that the House of Representatives had earlier endorsed the policy after a public hearing.
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.
