Business
‘Shippers Committed To Fair Port Operations’
The Nigerian Shippers Council says it is collaborating with relevant government agencies to ensure compliance to trade laws, guidelines and clearance procedures in line with international best practices.
The Executive Secretary of the council, Mr Hassan Bello said this at a seminar on “Compliance to trade laws by shippers, clearing agents at seaports and borders posts” in Onitsha last Wednesday.
Bello said there was ongoing crusade to sanitise the shipping industry from corrupt practices occasioned by unpatriotic, unprofessionalism and unwholesome attitudes of some shippers, freight forwarders and other service providers.
According to him, the council will partner with some government agencies to ensure that policies are streamlined to encourage fair trade practices, revenue generation and blockade of revenue leakages.
Bello, represented by Chief Cajetan Agu, the Deputy Director, Compliance, Monitoring and Enforcement Division of the Council reiterated the need to safeguard the country against importation of illicit goods.
“The resultant effects of non-compliance would invariably translate to delays in clearance of cargo, extra cost of cargo clearance, total loss of cargo, loss of credibility by shippers and freight forwarders.
“It will further translate to diversion of cargo to competing neighbouring ports and massive loss of revenue and adversely affect per capita income of the country,” he said.
In a remark, the National President of National Association of Government Approved Freight Forwarders (NAGAFF), Mr Increase Uche, lauded the Federal Government’s inauguration of the Kaduna Cargo Dry Port.
Uche however, appealed to the government to fast track those of Onitsha, Aba and Jos ports.
The South-East Zonal Coordinator of the Council, Mrs Ify Okolue, said the seminar was organised for stakeholders on realities and dangers inherent in non-compliance to rules and regulations in international trade.
Okolue assured stakeholders in the shipping sector, particular those in the South-East that the council was committed to the success of businesses through the provision of qualitative service delivery at all times.
In a lecture, the Director-General, Lagos Chamber of Commerce and Industry, Mines and Agriculture Mr Muda Yusuf, noted that 90 per cent of ships that brought imported goods into the country went back empty.
Yusuf urged stakeholders to always be conversant with the trending international commercial laws and custom rules.
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.
