Business
SPDC Faults Amnesty Report On Ogoniland
The Shell Petroleum Development Company (SPDC) has denied a report by Amnesty International alleging that a cache of thousands of internal documents suggesting the Anglo-Dutch oil giant’s complicity in crimes committed by the Nigerian military in the 1990s.
The report had accused Shell of repeatedly calling for military intervention against peaceful protests in the oil-producing Ogoniland in Rivers State.
The London-based organisation said Shell knew military intervention was likely to prompt human rights abuses.
Amnesty urged Nigeria, the UK and the Netherlands to begin criminal investigations into Shell’s role in the crimes.
But in response to Amnesty’s allegations, Shell has denied any wrong doing, describing the allegations as false and without any merit.
“The allegations cited in your letter against (Royal Dutch Shell) and [Shell Nigeria] are false and without merit.
“Shell Nigeria did not collude with the military authorities to suppress community unrest and in no way encouraged or advocated any acts of violence in Nigeria.
“In fact, the company believes that dialogue is the best way to resolve disputes. We have always denied these allegations, in the strongest possible terms,” said the Anglo-Dutch oil giant.
A spokesperson for SPDC, Mr. Bamidele Odugbesan, has also re-echoed the company’s position, saying the executions of Saro-wiwa and others were carried out by the military administration.
Odugbesan said in a statement, Wednesday, that Shell had also appealed to the Nigerian government to grant clemency, which was turned down.
“We have always denied, in the strongest possible terms, the allegations made in this tragic case.
“The executions of Ken Saro-Wiwa and his fellow Ogonis in 1995 were tragic events that were carried out by the military government in power at the time.
“We were shocked and saddened when we heard the news of the executions. Shell appealed to the Nigerian government to grant clemency.
“To our deep regret, that appeal, and the appeals made by many others within and outside Nigeria, went unheard.
“Support for human rights in line with the legitimate role of business is fundamental to Shell’s core values of honesty, integrity and respect for people,” Odugbesan explained.
Amnesty International’s allegations concerning SPDC are false and without merit. SPDC did not collude with the authorities to suppress community unrest and in no way encouraged or advocated any act of violence in Nigeria.
We believe that the evidence will show clearly that Shell was not responsible for these tragic events,” Odugbesan added.
Meanwhile, Amnesty International (AI) Wednesday took the campaign against human rights abuse and torture to the university community in Abuja and environs, hoping to enlist students into the war against the menace.
Country Director, Amnesty International, Nigeria, Osai Ojigho, used the occasion to call on Nigerians to support the body in its efforts to eradicate the act and or culture of torture in Nigeria.
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.