Business
NNPC Remits $2.7bn To CBN In Six Months
A data records from the Nigerian National Petroleum Company(NNPC) Limited, has revealed that the company remitted a total of N2.7billion into its accounts with the Central Bank of Nigeria(CBN), from January to June this year.
The NNPC data on remittances to CBN, which was seen on Sunday, has contradicted the claims of CBN that the weakening value of the naira was caused by the non-remittance of funds into Nigeria’s foreign reserves by NNPC.
The document revealed that out of the $2.7billion the oil firm remitted into its CBN accounts, $645million was for dividend paid by the Nigerian Liquefied Natural Gas company Limited.
It explained that $1.786billion was from the operational activities of the national oil company, which recently transited into a limited liability company.
The CBN had in a reaction to the continuous crashi n the value of naira against the dollar, said the non-remittance of dollars by NNPC precipitated the forex crisis.
In a report entitled, “The Forex Question in Nigeria: Fact Sheet,” the nation’s apex bank reportedly stated that there had been zero-dollar remittance to the country’s foreign reserve by the NNPC.
Nevertheless, the company’s unveiled document, has claimed otherwise, as it stated that NNPC remitted $2.7billion to CBN in the first six months of this year 2022.
It said $645millio was for dividend paid by the NLNG, while $1.786billion was from NNPC’s operations during the six-month period.
A breakdown of NNPC remittances showed that funds into the oil firm’s accounts in CBN include $18,770,418.97 in January; $194, 563, 276.49 in February; and $373, 232,875.20 in March.
Others were $247,884,295.52 remitted in April 2022: $591,565,425.41 in May; and $880,906,761.81 in June 2022.
Eyes have been on the Governor of the Nigeria’s apex bank, Godwin Emefiele, following the crash of the naira against the dollar, as the local currency traded against the dollar at over N700 per dollar last week.
By: Corlins Walter
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.
