Nigeria News (Standard)
Lagos-Based Flutterwave Secures Ripple Investment to Expand Stablecoin Payments Across Africa
Strategic partnership will see RLUSD stablecoin integrated into Flutterwave’s remittance channels, targeting faster cross-border transactions for African businesses
Strategic partnership will see RLUSD stablecoin integrated into Flutterwave’s remittance channels, targeting faster cross-border transactions for African businesses
Flutterwave, the Lagos-headquartered payments infrastructure firm, has announced a major investment and product partnership with global blockchain company Ripple, aimed at accelerating the adoption of stablecoin-based payments across Africa. The announcement was made on Sunday, 16 June 2026, and marks a significant step in the fintech sector’s push to provide faster and more cost-effective cross-border financial services on the continent.
The deal centres on integrating RLUSD, Ripple’s enterprise-grade stablecoin, into Flutterwave’s payment rails and Send App remittance corridors. According to Flutterwave, this move will allow RLUSD to serve as a primary settlement asset for high-volume channels, providing liquidity and reducing transaction costs for users in Nigeria and other African countries. The two companies also plan to leverage the XRP Ledger (XRPL) blockchain to enable quicker clearing of transactions and deploy a unified API connecting Flutterwave’s domestic network with Ripple Payments, the company’s global payment platform.
This development comes as cross-border commerce continues to surge in Africa, with businesses and individuals facing persistent challenges around speed, cost, and access to digital liquidity. By anchoring its stablecoin infrastructure locally, Flutterwave says it aims to empower African companies with improved access to international markets while reducing dependence on traditional banking systems that can be slow or expensive for foreign currency settlements.
In a statement issued by both firms on Sunday, Flutterwave said the partnership forms the next phase of its long-term stablecoin strategy. “We are focused on building robust digital asset infrastructure in Africa so that our customers can benefit from secure and efficient transactions,” the company said. Ripple added that the collaboration would bring “unprecedented speed, liquidity, and cost-efficiency” to users across key African corridors.
Industry analysts say this agreement could boost confidence in digital assets among Nigerian fintech stakeholders at a time when regulatory uncertainty has slowed broader crypto adoption. The Central Bank of Nigeria (CBN) has repeatedly called for stronger oversight of virtual currencies but has also acknowledged their potential benefits for remittances and international trade.
Further details about rollout timelines were not disclosed as at press time. Both companies indicated that enterprise clients would be among the first beneficiaries of the integrated payment solution.
Nigeria News (Standard)
Senate Panel Clears Nigeria Customs of ₦62 Billion Non-Remittance Allegation
Upper chamber’s committee says audit query on missing funds was based on procedural misunderstanding, not actual revenue loss
Upper chamber’s committee says audit query on missing funds was based on procedural misunderstanding, not actual revenue loss
The Senate Public Accounts Committee has cleared the Nigeria Customs Service (NCS) over an audit query alleging non-remittance of ₦62 billion to the Federation Account. The panel’s decision was announced in Abuja on Tuesday, following a detailed review of the Auditor-General’s report and responses from Customs officials.
The committee, led by its chairman, conducted a session where representatives from the NCS presented documents and explanations addressing concerns raised by the Office of the Auditor-General for the Federation. The audit had flagged discrepancies in remittances between certain years, prompting scrutiny from lawmakers tasked with fiscal oversight.
This development comes as Nigeria continues to tighten its revenue monitoring processes amidst economic pressures and calls for greater transparency in public finance management. The allegations against Customs had raised public concern due to the large sum involved and the agency’s critical role in funding government operations through import duties and levies.
According to findings presented at the hearing, the Senate committee determined that the reported shortfall stemmed from a misunderstanding of accounting procedures rather than any actual diversion or loss of funds. “There is no evidence that ₦62 billion was withheld or diverted by Nigeria Customs,” a committee member stated during the session. Officials from NCS maintained they had complied with all statutory remittance requirements.
With this clearance, focus now shifts to other agencies under audit review, as lawmakers emphasise that strict compliance with financial regulations remains their priority. The Senate panel said it would continue to scrutinise reports from the Auditor-General and ensure any gaps in government revenue are properly addressed.
Nigeria News (Standard)
NDA Opposes Automatic Admission for Military School Graduates in Kaduna
Academy leadership says policy undermines merit; calls for adherence to entrance exam standards
Academy leadership says policy undermines merit; calls for adherence to entrance exam standards
The Nigerian Defence Academy (NDA) in Kaduna has rejected a proposal for automatic admission of graduates from military secondary schools into its officer training programme. The announcement was made on Tuesday, 16 June, by the academy’s leadership, who maintained that all applicants must continue to undergo the standard entrance examination process.
According to NDA authorities, any move to grant automatic entry to graduates of military schools would contradict the academy’s longstanding commitment to merit-based selection. The statement comes as debates intensify over access and inclusivity within Nigeria’s military education pipeline, particularly concerning students from institutions such as the Nigerian Military School, Zaria.
The NDA remains Nigeria’s premier institution for training officers for the armed forces and has historically relied on a highly competitive entrance exam as its primary filter. Academy officials argue that waiving this requirement could lower standards and compromise the quality of officer cadets entering service at a time when security challenges require only the most qualified personnel.
“We cannot sacrifice the integrity of our admission process,” an NDA representative said, emphasising that all candidates—regardless of their background—should be subjected to the same rigorous assessment. No official from the federal Ministry of Defence has commented publicly on whether government plans to pursue such a policy. Stakeholders in military education have expressed mixed reactions, with some supporting meritocracy while others advocate for recognition of military school graduates’ unique training experience.
As debate continues, the NDA has urged policymakers to consult widely before considering any changes. The academy says it will uphold its current selection procedures unless directed otherwise by competent authorities.
Nigeria News (Standard)
Katsina Hosts El-Kanemi Warriors, Wikki Tourists Clash in President Federation Cup Showdown
Former champions to battle for semi-final spot as competition heats up in North-West venue
Former champions to battle for semi-final spot as competition heats up in North-West venue
El-Kanemi Warriors and Wikki Tourists, both former champions of the President Federation Cup, are set to face off in a much-anticipated fixture scheduled for Tuesday, 16 June 2026, at a venue in Katsina State. The encounter brings together two sides with storied histories, each aiming to secure a place in the semi-finals of Nigeria’s prestigious knockout football competition.
The match-up between El-Kanemi Warriors and Wikki Tourists was confirmed after both teams progressed through earlier rounds of the tournament. The fixture is expected to draw significant attention from fans in Katsina and across the country, given the pedigree of both clubs and their previous successes on the national stage.
The President Federation Cup remains one of Nigeria’s longest-running football competitions, offering clubs from different tiers of the league system an opportunity to compete for silverware. For El-Kanemi Warriors and Wikki Tourists, advancing further in this year’s edition is not only a matter of pride but also provides a potential route back to continental football. The winner of the Cup typically earns qualification for the CAF Confederation Cup, underlining the high stakes involved.
As at press time, neither club had released an official statement regarding team preparations or player availability. However, local observers expect both sides to field strong squads as they chase another title. Football analysts have noted that matches hosted in Katsina often draw passionate crowds and can influence game outcomes due to home support.
With semi-final places on the line, attention now turns to how both former champions will approach this critical encounter. The outcome could reshape ambitions for either side as they look to reclaim their place among Nigeria’s football elite.
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