Business
Host Community Shuns Mobil Parley
Ibeno community in Akwa Ibom State, host to Mobil Producing Nigeria has declined to participate in a meeting with the oil firm to resolve the face-off over frequent oil spills from the Qua Iboe oil fields.Reports say that representatives of the community stayed away from the meeting to press home their demand for payment of cash compensation as against the projects proposed by MPN to compensate the community.However, representatives of Eket, Esit Eket and Onna local government areas attended the meeting with officials of Mobil. The meeting held behind closed doors at Eden Hotels, Eket, on Wednesday.Akwa Ibom State Governor Godswill Akpabio had earlier convened a meeting between the four neighbouring communities affected by the oil spill that occurred on May 1, 2010, after a protest by the youths.The meeting resolved that each council area should raise a committee to meet with the oil firm to agree on acceptable projects to be funded by the oil company.Giving the reasons for not attending the meeting, Village Head of Atia community in Ibeno LGA, Obong Ukot Esenem Ukot, expressed regret that rather than resolve the main cause of frequent oil spills, Mobil chose to deliberate on community development projects.He said, “Ibeno shall have nothing to do with any of such meetings calculated to waste valuable time. Our position remains that compensation for damages and losses incurred by fishermen and the community is not negotiable.”Development project is their social responsibility, and has nothing to do with the damages they did to our environment; they are not in any way related to each other and cannot be exchanged.”When contacted to comment on the boycott, a source at the Public Affairs Department of Mobil at Qua Iboe Terminal declined to comment.
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.
