Business
CIBN Tasks Banks On Global Market
Acting President, Chartered Institute of Bankers of Nigeria (CIBN) Mr. Laoye Jayeda has charged Nigerian banks to compete in the global market. He gave this task at the recent third banking and finance conference held in Abuja. He however noted that competing in global sphere presents a very peculiar human resources challenge. The quality of manpower according to him is readily a defining element of competition. According to him “to compete favourably, we need skilled, training and knowledgeable professionals. We therefore need to urgently deepen and raise the bar on our training and manpower development. This is one of the resolve to invest its time and resources. For example, we are currently working on establishing a defined competency framework for all bankers which ensures the standard of skills, training and learning that persons on different grades must possess”. Speaking further, he said we must strive to continuously improve on the efficiency of our business. Through this, we can reduce the time and cost of performing tasks and improve efficiency. Another factor he mentioned is corporate governance and regulation, noting that the recent global financial services crisis that engulfed investment and traditional banks underscore the need for the boards of directors and indeed, management of our financial institutions to abide by the letters and spirit of best corporate governance practices. “Another lesson from the crisis and indeed the recent special examination of banks by the way our banks are managed just as the regulatory oversight requires, immediate enhancement. Other wise, our collective desire for a new approach for taking global and national systemic risks will remain elusive in this connection. The institute will continue to instill ethical practices in our local market through the combined implementation of the provisions of the code of ethics and professionalism in the banking and finance Industry and the Chartered institute of Bankers of Nigeria Act, 2007, “he added. Mr. Jaiyeola also stated that Information Technology (IT) provides an efficient platform for the delivery of superior banking and other financial services. As a result of this he said, it has become increasingly important against the backdrop of the globalisation, international trade, cross-border financing and the growing speed and the complexity of transactions. “We must therefore deploy robust and appropriate systems that have proven capability to provide speed and efficiency without losing sight of security and confidentiality”, he stressed.
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.
