Business
NIMASA, NCC Deepen Submarine `Cable Regulations
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Communications Commission (NCC), have agreed to work closely with relevant stakeholders as NIMASA inches closer to developing a regulatory framework to provide operational guidelines for Submarine Cable and Pipeline Operators in Nigeria.
According to a statement signed by the Head, Public Relations, Mr. Edward Osagie, Monday, the officials of both organs of government reached this agreement at a pre-audit meeting on submarine cable regulation in Lagos.
The Director General of NIMASA, Dr. Bashir Jamoh, chaired the meeting, which also had the Director General of Bureau of Public Service Reforms (BPSR), Mr Dasuki Arabi, in attendance.
The NIMASA boss noted that the Agency is committed to the Ease of doing Business, while implementing international conventions which Nigeria has ratified and domesticated.
According to the statement, “Jamoh observed that with Nigeria now a destination for global communication players, the time has come to prevent unregulated underwater cable laying, which might become hazardous to shipping.
The statement read in part, “It is worthy to note that marine cable laying has been ongoing for over two decades in Nigerian waters. Our focus is to ensure safety of navigation of shipping in Nigerian waters with all these underwater cables being laid.
“NIMASA is actually developing the guidelines to regulate submarine cable operators in line with the provisions of United Nations Convention on the Law of the Sea (UNCLOS), which we have ratified and NIMASA is the Agency of Government in Nigeria responsible for its implementation.
“We do not just implement laws, we consult. Where the responsibility of an Agency stops, that is where the responsibilities of another Agency starts.
“Collaboration is a key component of ease of doing business in the best interest of the country and we will work closely with the NCC to achieve this”.
On his part, the Executive Vice Chairman of the NCC, Professor Umar Garba Danbatta, who was represented by the Director, Compliance Monitoring and Enforcement, Efosa Idehen, noted that the stakeholders’ dialogue strategy adopted by NIMASA in developing the guidelines would ensure a win-win situation.
He, however, urged NIMASA’s management to include the Ministry of Justice, a request NIMASA Director General immediately granted.
Also speaking at the meeting, the Director General of the Bureau of Public Service Reforms, Mr Dasuki Arabi, commended NIMASA and NCC for adopting effective Inter-Agency collaboration to avert a potential challenge for the country in the future.
NIMASA had notified submarine and cable operators in Nigeria of a soon to be implemented regulatory guideline for submarine cables and pipelines in Nigeria, in line with the provisions of UNCLOS.
NIMASA and the NCC agreed to identify and resolve areas of likely regulatory overlaps, ensuring a regulatory framework based on consultation to engender attainment of Nigeria’s digital economy transformation.
By: Nkpemenyie Mcdominic, Lagos
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.
