Business
Maritime Body Makes Case For Pre-Shipment Inspection
The National Council of Managing Directors of Licensed Customs Agents (NCMDLCA) has urged the Federal Government to revert from Destination Inspection to pre-shipment Inspection Scheme, a new development in the realms of international trade on the dual mission of protecting national security.
The National President of the association, Mr. Lucky Ayis Amiwero, disclosed this in an exclusive chat with our correspondent in Lagos.
According to him, NCMDLCA and the Presidential Task Force on the reform of Nigeria Customs Service are worried over the regime of destination inspection, which allows influx of unwholesome goods such as arms and ammunition, contrabands and dangerous items that expose the nation to security threat.
Amiwero declined that those who have declared their preference for destination inspection at the expenses of pre-shipment inspection have short memories to remember the position of the country economically, hence he said the government should quietly discard it and put in place pre-shipment inspection.
He said that pre-shipment inspection is embraced all over the world prior to the event of 9/11 that precipitated a change in cargo inspection based on security and safety.
Amiwero, who advised that Nigeria should not be left in the hands of greedy and selfish people, who are bent on destroying it in order to achieve their selfish objectives, cautioned that it would amount to colossal loss and disaster to the economy as well as the nation if import procedures in the country are left loose.
According to him, the international agreement on cargo security states that, “the cargo security programme developed after 9/11 emphasised on the provision of advance information of shipment of goods to the importing country, which is a new protocol for tracking and screening of cargo both from the country of origin to destination, which was adopted globally due to security threat on the supply chain”.
The customs agent, who has served on various government task force/committees noted that the pre-shipment inspection Act, Paragraph (2) (3) (4) and (5) contain the global requirement for pre-shipment and condition as contained in the safe framework for pre-screening for security safety and revenue of import adding that the global best practice on cargo information, the screening and tracking that is to be shipped to country of import before loading on board the ship, so as to safeguide the country from importation of unwholesome products such as ammunition and prohibited items.
He further explained that under the new rule, 10 + 2, before goods arrive by vessel into United States, importer or his agent must submit certain advance cargo information to CBP in form of an Import Security Filling (ISF) as to identify high-risk – shipment in order to prevent smuggling and ensure cargo safety and security.
He noted that under destination inspection, the nation has lost billions of naira through import manipulation, improper duty assessment and double handling in the ports among other corrupt practices.
On shipping lines operating in our coastal waters, Mr. Amiwero tasked the federal government to look into what these shipping lines are doing as he linked them with some of the difficulties faced in the ports.
He also carpet NIMASA for their negligence in the area of cabotage after four years of implementation, stressing that the parastatal has failed woefully on cabotage implementation while urging the government on the importance of the ports to the nation’s development, noting that the issue of security should not be forgotten.
“Without security, the nation will find it difficult to put things right and foreign investors will continue to stay away from Nigeria,” he said.
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Banking/ Finance
Ripple Survey Reveals Appetite for Digital Assets
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.
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