Business
Oba Commends SEME Customs Comptroller
The Oba of Lagos, Oba Riliwanu Akiolu has endorsed the efforts by the Customs Area Comptroller of Seme Area Command to suppress the acts of smuggling which he said is inimical to national economic and security growth.
Oba Akiolu, who received Comptroller Willy Egbudin in his palace on Lagos Island, recently commended the Comptroller for coming to sustain the existing cordial tie between the command and his palace while reassuring the command of his continuous support for the noble efforts of Seme customs at all times.
The monarch also said the good works of the customs should be encouraged by all patriotic and well meaning Nigerians as all industries in Lagos and other parts of the country deserve some government protection through customs preventive efforts against smuggling.
Oba Akiolu, a retired Assistant Inspector General of Police also lauded the robust customs/ community relations between the Seme Command and the traditional institutions in Lagos. He said traditional rulers and government operatives should always see themselves as partners in progress. He also told the visiting CAC and members of his entourage to see the palace as their second home, where they are free to come any time the need arises.
Speaking earlier, Comptroller Egbudin said his visit to the palace is aimed at seeking the support of the monarch, his blessing and cooperation of the traditional institution which he described as critical stakeholders in the Nigerian project.
“We are doing a lot of enlightenment and sensitisation on the ills of smuggling and other trade malpractices like under declaration, forgery of documents, duty evasion and other unlawful activities like smuggling of dutiable goods and prohibited items like arms and ammunition.”
He also explained that the command under his watch has recently increased its anti smuggling activities during this yuletide period and would sustain the momentum.
The CAC’s round of visits to stakeholders has seen him familiarising with other monarchs like the Akran of Badagry, the Aholu of Kweme, Oba Sejiro Ogungbe Olalekan James, Oba Possi Oyekan of Owode Apa and the Onibereko of Ibereko as well as senior officers of other government services.
Among officers visited are the Comptroller of the Federal Operations Unit (FOU), Ikeja Lagos, Nuhu Isa Mahmud, who described Egbudin as a dedicated officer with the capacity to address challenging situations without betraying emotions.
The FOU Comptroller promised support for the Seme Command while reiterating that all officers of the service are united by common goals which requires synergy to achieve. He added that Egbudin’s posting to Seme goes a long way to show that he is a reliable officer capable of handling sensitive assignments in an area like Seme, the busiest border post in West Africa.
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.