Business
Rivers Honours Top Fashion Designers
The Rivers State Government has been commended for its decision to honour indigenous fashion designers and hoteliers. According to one of the recipients of the 2015 World Tourism Day award, Mrs. Vera Edemigha, the award was a monumental recognition of cultural creativity that would motivate fashion designers to project the culture of Rivers State and Nigeria as a whole.
Speaking while receiving award at Hotel Presidential, Port Harcourt, recently, Edemigha lauded the organisers for focusing on local entrepreneurs who are contributing to the economy by providing jobs through their creative works and urged the state and federal government to integrate skills acquisition in the school curriculum.
Edemigha, whose outfit, Vera Classics, was recognized by the Rivers State Ministry of Culture and Tourism said in an interview with journalists that many youths who graduate from the university roam the streets in the name of job seeking, noting that, if they had been taught skills they would not be looking for jobs.
She said that the notion that fashion design was for school dropouts was wrong, noting that there was a lot of potentials in fashion design and dress making in promoting the tourism sector and capable of driving the nation’s economy to enviable level if its potentials were harnessed.
According to Edemigha, whose outfit Vera classics is popular in making traditional cloths, promoting tourism through fashion design, “is an avenue to earn foreign exchange and also generate employment opportunity for the unemployed youths roaming the streets, adding “if we are dedicated in what we do, in future Nigerian designs would be very popular abroad just as we have Senegalese and Kente”.
She thanked the state Ministry of Culture and Tourism for the awardee.
Speaking at the event, the permanent secretary, Rivers State Ministry of Culture and Tourism, Mrs. Arosemi Teetito, stated that tourism was a major business that plays vital and catalytic roles in the transformation of various economies and appealed to the Rivers State Government to rehabilitate the Port Harcourt Zoological Park.
Also speaking, the Secretary to the State Government, Mr Kenneth Kobani, said tourism is an integral part of development, adding that government would do everything within its reach to promote tourism in the state.
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.
