Business
CBN Explains Nigerian’s Economic Diversification
The Central Bank of Nigeria,( CBN) said it is focused on diversifying Nigeria’s economy to stall problems created by fluctuations in the prices of oil globally.
Governor of CBN, Mr Godwin Emefiele, who stated this in Asaba during the opening of a two-day CBN Fair for stakeholders in Delta, said the bank has the mandate to grow the economy in a sustainable manner.
Emefiele, who was represented by the Director, Corporate Communications of CBN, Mr Osita Nwanisoba, said CBN’s various intervention programmes were geared towards the diversification of the economy from oil.
“What the CBN is doing is to diversify the economic base of this country. We are saying that there are so many and so much that we can do
“We have agriculture, we have manufactured. So, why can’t we deal with these things so that we will be able to produce what we eat and eat what we produce?
“These are sectors that will grow the economy, create jobs, ensure that there is export so that we will be able to moderate our exchange rate and earn even more foreign exchange.”
He said the fair was aimed at sensitising citizens on the interventions of CBN for them particularly graduates to leverage on to become entrepreneurs.
Earlier in his welcome address, Branch Controller of CBN, Asaba, Mr Godwin Okafor, listed some of the interventions as Real Sector Financing and Interventions, Payment Systems Initiatives, Consumer Protection, Clean Naira Note Policy, Financial Inclusion, Consumer Rights, TIES, 100 for 100 among others.
Delta State Commissioner for Agriculture, Mr Julius Egbedi, who also spoke at the ceremony, hailed CBN’s support through its various programmes in the state, adding that Delta farmers have benefited immensely from CBN schemes, especially the Anchor Borrowers’ Programme.
Egbedi, who was represented by the Permanent Secretary in the ministry, Mr Ben Agamah, called for continued partnership in creating more employment for the people of Delta 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.