Business
Commuters Heave Sigh Of Relief As Traders Stay-Off East – West Road
L-R: Lead Water and Sanitation Specialist, World Bank, Mr Hassan Kida, World Bank Country Director, Marie Francois Marie-Nelly and Minister of Water Resources, Mrs Sarah Ochekpe, at a dinner meeting with the World Bank and Minister of Water Resources in Abuja last Wednesday. Photo: NAN
Following the persistent
trading on the Elele Alimini and Rumuji markets along the East-West road which has become a source of worry to commuters and drivers alike in recent times, the change of attitude among the traders has earned them a measure of praise.
Investigations by The Tide indicated that the traders who usually block the main road from both ends on market days to enable them display their wares for business have now stopped the practice.
The Tide reports that few months ago, the Chairman of Emohua Local Government Area of the state, Hon Allen Nma, expressed concern over the attitude of the traders.
While speaking to our correspondent he highlighted the dangers inherent in such practices even as he said efforts to dissuade the traders fell on deaf ears.
He spoke of efforts by the Local Government Area in working with the police to make the traders comply as the authorities were working with the chiefs of both communities in providing land for the building of new markets to ensure the relocation of the traders.
Some drivers who spoke to The Tide said it was a welcome development because accidents that would have been avoided were occurring on every market day.
According to a driver Mr Doyin Olajumoke, who plys from Port Harcourt to Bayelsa even though the traders were still trading at the corner of the road, “it is better than before”.
The traders who are mostly indigenes of the area who spoke to our correspondent said no body forced them to leave the road.
Adanne Orlu who usually brings plantain to the market told our correspondent that it was better to return home safely after every market day rather than being involved in an accident.
She said in a bid for most traders to attract customers, they were usually tempted to display their wares on the road even as she admitted the risks involved.
However, efforts to speak with the EMOLGA LGA boss on the new development before going to press was not successful.
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.
