Business
Mixed Reactions Trail Ban On Vehicles Import Via Land
The Federal Government
ban on the importation of vehicles into Nigeria through the land borders has generated mixed reactions among some car dealers in Mararaba, Nasarawa state.
The car dealers told newsmen in Mararaba on Wednesday that the Federal Government should have put palliative measures in place before coming up with the policy.
Recall that the Federal Government on December 5, 2016, placed a ban on the importation of used and new vehicles through the country’s land borders with effect from January 1, 2017.
Mr Onyecheme Clement, the managing director of a motor company in the area, said it was not a welcome development as the policy would affect the car dealing business.
“The ban is not welcome; before a policy like this is introduced, government is supposed to carry out a survey, because of the effect the policy will have on the Nigerian economy, on the general public, on the dealers and on the people importing the vehicles.
“For us, with the current exchange rate, we cannot do anything. Once we sell we cannot replace the ones we have sold.
“The government is supposed to carry out a survey and put palliative measures in place before the ban; that is how it is done in civilised societies.
“When you go to Cotonu, any car you want you will get it there.
“In Lagos it is not like that; the delay in clearing in Lagos is very much and the cost too.
“Most of the ports we have in the country are not effective.
“We have to put those ports in order before this type of thing will come into being.
“Look at the traffic situation in Lagos today.
“What will be the effect when everybody going to Cotonu to buy cars now goes to Lagos?
“It means Lagos will stand still for almost three days.’’
Also, Mr Fidelis Ene, Usman Motors, Mararaba said the country do not have enough seaports that would accommodate all importation of cars.
Ene advised the Federal government to put in place measures to ensure that people paid the proper tariff to generate more revenue.
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.
