The Lagos State Government, in partnership with EnterpriseNGR under the platform of the Lagos International Financial Council (LIFC), on Monday signed a Memorandum of Understanding (MoU) with the City of UK and the Foreign Commonwealth and Development Office (FCDO) for the development of an International Financial Centre in Lagos to drive economic growth. The announcement was made in an official press release signed by Gboyega Akosile, Special Adviser on Media and Publicity, on March 24, 2025.
The signing of the MoU by the Lagos State Commissioner for Finance, Mr Yomi Oluyomi; CEO EnterpriseNGR, Mrs. Obi Ibekwe; Head, Eurasia, Middle East and Africa of The City UK, Chika Mourah; and Director, International Development of The City UK, Anna Rogers, was witnessed by Lagos State Governor and Chairman of LIFC, Mr Babajide Sanwo-Olu; Co-Chairman LIFC and Chairman, Access Holdings, Mr Aigboje Aig-Imoukhuede; Charge d’Affaires, British Deputy High Commission Lagos, Mr Simon Field; Secretary to the Lagos State Government, Mrs. Bimbola Salu-Hundeyin and Head of Service, Mr. Bode Agoro, among others.
L-R: Lagos State Head of Service, Mr. Olabode Agoro; Secretary to the State Government, Barr. ‘Bimbola Salu-Hundeyin; Governor Babajide Sanwo-Olu; Chairman of EnterpriseNGR and Co-Chair of the LIFC, Mr. Aigboje Aig-Imoukhuede and Director, International Development, The City Uk/FCDO, Anna Rogers
Speaking during the ceremony, Governor Sanwo-Olu said his administration is truly committed to achieving the Lagos International Financial Centre and therefore seeks everybody’s support to make the vision a reality.
He said: “The signing of the MoU signposts the beginning of another level of engagement in establishing Lagos International Financial Centre and making Lagos the first in sub-Saharan Africa that will get an international financial centre.
“It is not just about us; it is about the conversation of putting our country and both local and international investors on a platform that would make businesses work better and create an ambiance of a more predictable and reliable financial centre in this part of the world.
“We are localising our idea and initiative to be able to also put Lagos and, by extension, Nigeria, on the world map of cities that have international financial centres.”
Governor Sanwo-Olu also expressed appreciation to all the partners for their financial and technical support towards the establishment of an International Financial Centre in Lagos.
Lagos’ International Financial Centre: A Strategic Nexus for Global Investment and Innovation
Speaking earlier, the Co-Chairman of LIFC, Mr Aigboje Aig-Imoukhuede, commended Governor Sanwo-Olu and his team for their courage in driving the dream of the LIFC, noting that “The gift of Babajide Sanwo-Olu to Lagos State is one that we in the capital market also enjoy.”
He said the Memorandum of Understanding is a very important signpost for the Lagos International Financial Centre project. “Today, we are carrying the flag of Lagos State, Nigeria, and indeed Africa. We are getting to the promised land of having an international financial centre in Lagos and for Nigeria,” he said.
Aig-Imoukhuede also commended the media for balanced and educative reporting and charged them to do more as he called for their continuous support in every way possible.
Also speaking, the Director of International Development of The City UK, Anna Rogers, said the partnership would bring everybody together to make Lagos a successful powerful house on the African continent.
She said: “The City of UK is proud to be a strategic partner for the development of Lagos International Financial Centre. The decision of the Lagos State Government is highly commendable, and we are very excited to be part of the journey.
L-R: Commissioner for Economic Planning and Budget, Mr. Ope George; CEO, EnterpriseNGR, Mrs Obi Ibekwe; Charge d’Affaires, British Deputy High Commission Lagos, Mr Simon Field; Director, International Development, The City Uk/FCDO, Anna Rogers; Lagos State Governor, Mr. Babajide Sanwo-Olu; Chairman of EnterpriseNGR and Co-Chair of the LIFC, Mr. Aigboje Aig-Imoukhuede; Head, EurAsia,Middle East and Africa for the City Uk, Chika Mourah; Commissioner for Finance, Mr. Abayomi Oluyomi and his counterpart for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Ambrose-Medebem.
“We are delighted that through our partnership, we’ll continue to provide an avenue for UK and Nigerian financial professional services practitioners, policymakers, and regulators to share knowledge on best practices in areas such as corporate governance, financial services, regulation, technology, innovation, and many others. These will lead to increased trade and an increase in investment and partnership between the two countries as well as internationally.”
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