Business
Customs Impounds Army Camouflage Uniforms
The Kirikiri Lighter Terminal Command of the Nigeria Customs Service (NCS) has intercepted a 40ft container of plain Army camouflage uniforms and arrested two suspects.
The Customs Area Controller of the command, Comptroller Lami Wushishi, made this known on Tuesday, in Lagos, while handing over the seizures to Department of State Service (DSS), at the Port Express Terminal.
According to her, in a bid to suppress the smuggling of contraband and prohibited products under any guise, the command detained a 40ft container with No ECMU9239436.
Wushishi said that the container was imported into the country by a company based in Kano, dealing in logistics.
“The consignment which originated from China and arrived Nigeria on July 14, was falsely declared as 200 packages of thread take-up can and 150 packages of polyester materials
“The consignment contained 732 rolls of plain Army uniform, 666 rolls of camouflage, and 129 rolls of polyester material and another five bags of polyester.
“The container was intercepted by vigilant officers during the 100 per cent examination in line with the Vice-President, Prof. Yemi Osinbajo’s directive on Ease of Doing Business,” Wushishi said.
She said that the command also arrested a representative of the importer and an agent as suspect.
Wushishi handed over the container and the two suspects to the appropriate agency for further investigation as enshrined in Customs and Excise Management Act. Cap C 45, LFN 2004, Section 67 (2).
Wushishi assured port users of the command’s continuous effort in ensuring the implementation of Fiscal Policy of the Federal Government and continued collaboration with other sister agencies.
She said that the command had been generating over a billion naira monthly since she assumed duty, adding that the effort had surpassed the revenue target given to the command.
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.
