LASG, LIFC sign MoU with UK City, FCDO for Lagos International Financial Council

By Adeola Ogunrinde

The Lagos State Government, in partnership with EnterpriseNGR under the Lagos International Financial Council (LIFC), on Monday signed a Memorandum of Understanding (MoU) with The City UK and the Foreign, Commonwealth and Development Office (FCDO) to develop an International Financial Centre in Lagos aimed at driving economic growth.

The MoU was signed 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 signing was witnessed by Lagos State Governor and Chairman of LIFC, Mr. Babajide Sanwo-Olu; Co-Chairman of LIFC and Chairman of Access Holdings, Mr. Aigboje Aig-Imoukhuede; Charge d’Affaires at the British Deputy High Commission in Lagos, Mr. Simon Field; Secretary to the Lagos State Government, Mrs. Bimbola Salu-Hundeyin; and Head of Service, Mr. Bode Agoro, among others.

Speaking at the event, Governor Sanwo-Olu reaffirmed his administration’s commitment to establishing the Lagos International Financial Centre, calling for collective support to make the vision a reality.

“The signing of the MoU marks the beginning of another level of engagement in establishing the Lagos International Financial Centre, making Lagos the first in sub-Saharan Africa to achieve such a milestone,” he said.

“This is not just about us; it is about positioning our country and both local and international investors on a platform that fosters business growth and creates a more predictable and reliable financial centre in this part of the world.”

Governor Sanwo-Olu also expressed appreciation to all partners for their financial and technical support toward the establishment of the centre.

Earlier, the Co-Chairman of LIFC, Mr. Aigboje Aig-Imoukhuede, commended Governor Sanwo-Olu and his team for their dedication to realizing the LIFC vision, stating, “The leadership of Babajide Sanwo-Olu is a gift to Lagos State, one that we in the capital market also benefit from.”

Anna Rogers, Director of International Development at The City UK, highlighted the significance of the partnership, emphasizing its potential to position Lagos as a leading financial hub in Africa.