Business
Calabar Consumers Berate PHED Over Poor Service
No fewer than 1000 Electricity consumers from Efut Musaha Lower, Calabar South Local Government Area of Cross River State weekend stormed the Customer Care Centre of the Calabar branch of the Port Harcourt Electricity Distribution Company (PHED) to express their grievances over poor services being rendered to them by the management of PHED.
Part of the issues that angered the consumers was that they pay bills even when they live in darkness.
The protesters carried placards with different inscriptions such as, “we no go agree ooh, we no go agree ooh, PHED we say no to estimated billing system.”
Others chanted several songs as if they were going to stage a war singing, “No load shading, we need metering and nothing else”.
Among several demands made by the aggrieved youth and elders of the Musaha Lower Clan Council consumers were that they were being shortchanged and exploited by management of PHED.
Spokeperson for the protesters, Engr. Daniel Denis, lamented how consumers in the community had suffered exploitation in the hands of the company, stressing that henceforth residents of the community will no longer pay any dime into the coffers of PHED unless light is quickly restored in the area.
Other demands made by the protesters were the issue of “No light, no pay.”
“God himself does not dwell in darkness and anybody who wants the people to live in darkness is an agent of darkness?” Denis queried.
The protesters stated that they had over suffered in black out despite the fact that they make payment to the coffers of PHED with estimated bill.
The protesters lamented that there was something sinister happening in the ICT unit leading to inflation of the tariff that is given to consumers in the area.
The protesters charged the Business manager to caution the ICT personnel to do the normal calculation to ensure that normal electricity bills are given to consumers.
One of the protesters Otobong Bassey who spoke bitterly to our correspondent on the issue decried how he got N12,000 from PHED as estimated bill for January even when he got light for only hours.
According to Bassey, in February, the light was reduced to seven hours with N17,000 bill.
The protesters charged PHED to stop the production and distribution of bill to the consumers pending when shading of light will be restored.
Also speaking on the issue, HRH Muri Mkpang Bassey Edet, Clan Head Efut Musagha Lower Clan Calabar South said that henceforth he and his subject would no longer entertain or welcome electricity bills from the PHED because of the maltreatment that the people have gotten from the electricity company.
The monarch maintained even when they pay their bills as at when due PHED still shortchanged the people by doing load shading which is not favourable to the people.
Responding Business Manager to PHED in Cross River, Mr George Chinwo thanked the protesters for conducting themselves in a peaceful manner stressing that arrangement is in top gear to solve the problem.
Friday Nwagbara, Calabar
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.
