Lagos, UK’s City Partner To establish International Financial Centre

The Lagos State government, in collaboration with EnterpriseNGR through the Lagos International Financial Council (LIFC), has signed a Memorandum of Understanding (MoU) with The City UK and the Foreign, Commonwealth & Development Office (FCDO) to establish an International Financial Centre in Lagos.

The agreement was signed on Monday by Lagos State Commissioner for Finance, Mr. Yomi Oluyomi; CEO of EnterpriseNGR, Mrs. Obi Ibekwe; Head of Eurasia, Middle East, and Africa at The City UK, Chika Mourah; and Director of International Development at The City UK, Anna Rogers.

The ceremony was attended by Lagos State Governor and LIFC Chairman, Mr. Babajide Sanwo-Olu; Co-Chairman of LIFC and Access Holdings Chairman, Mr. Aigboje Aig-Imoukhuede; British Deputy High Commission Lagos representative, Mr. Simon Field; Secretary to the State Government, Mrs. Bimbola Salu-Hundeyin; and Lagos Head of Service, Mr. Bode Agoro.

Speaking at the event, Governor Sanwo-Olu emphasized his administration’s commitment to making Lagos a global financial hub.

He stated, “This MoU marks a new phase in our journey to establish the Lagos International Financial Centre, making Lagos the first city in sub-Saharan Africa to achieve this feat. It is about positioning our country and both local and international investors for a thriving business environment. We aim to place Lagos, and Nigeria at large, on the world map as a financial powerhouse.”

Co-Chairman of LIFC, Mr. Aigboje Aig-Imoukhuede, praised Governor Sanwo-Olu’s efforts, describing the agreement as a significant milestone for the project. “Today, we carry the flag of Lagos, Nigeria, and Africa in building a world-class financial centre. We are moving closer to achieving this goal,” he added.

Similarly, Anna Rogers, Director of International Development at The City UK, reaffirmed the organization’s commitment to ensuring Lagos becomes a leading financial hub in Africa.

This partnership is expected to enhance economic growth, attract investments, and position Lagos as a key player in global financial markets.