Business
NAICOM Seeks Lifeline For Education Sector
The Deputy Commis
sioner (Technical), National Insurance Commission (NAICOM), Malam Ibrahim Hassan, has called for the provision of emergency aid to salvage the country’s education sector.
Hassan made the call at the signing of a Memorandum of Understanding for a grant to the Ahmadu Bello University (ABU) and Imo State University in Abuja.
The NAICOM grant covers ICT infrastructure, textbooks, scholarship for Masters, PhD and Doctorate degree programmes
He said that most tertiary institutions in the country were in serious need of assistance to help provide adequate infrastructure.
The commissioner observed that government-owned tertiary institutions were a far cry from what there used to be when they were created and calling on stakeholders to restore their former glory.
“What is happening in the education system today is very pitiable and a thing of regret. I only hope those of you in the academic would put your heads together and be able to add one day to find a lasting solution to the problem.’’
He advised that the private sector be made to invest more in the education sector.
“Even if they cannot provide scholarships, they can provide endowment that will go a long way in building the pitiable infrastructure we see in our universities today.
“These are things we must do to save the lives and future of our upcoming generation,’’ he said.
The Commissioner for Insurance, Mr Fola Daniel, said the intervention was part of the commission’s commitment to promoting insurance competence.
“There has always been a section in the insurance act that states that a portion of our income should be devoted to capacity building.
“And that capacity building has been mainly to chartered the Institute of Insurance and West African Insurance College in Liberia.
“But personally, I think we should be doing more to help the local institutes or universities in the country because I believe that if we are not reaching out to institutions within our communities, then we are not fulfilling our mandates.
“So we think we can use the university community as a means to develop insurance manpower and also to entrench insurance culture,’’ he said.
Responding, the Vice-Chancellor, Ahmadu Bello University, Prof. Abdullahi Mustapha, thanked the commission for providing the grant to the institution to strengthen its insurance department.
He said the key areas covered by the MoU were fundamental in the growth of the education sector.
“I must congratulate the commission for this foresight because the advanced degrees are the basic ingredients for national development,’’ he said.
The Vice-Chancellor, Imo State University, Prof. Aloysius Awuzie, who was represented by Prof. Ginikanwa Agulana, promised to ensure judicious use of the grant.
“I pledged that we will stick to the agreement in the MoU to help build the manpower and professionals that will further promote the growth of the insurance sector,’’ he said.
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.