Lagos inaugurates International Financial Centre Council


Governor of Lagos State, Mr. Babajide Sanwo-Olu and Chairman, EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede during the inauguration of the Lagos International Financial Centre Council at the EXCO Chamber, Lagos House, Alausa, Ikeja, on Friday, 03 November 2023.

Lagos State Governor, Babajide Sanwo-Olu on Friday signed Executive Order, establishing Lagos International Financial Centre (LIFC) Council in furtherance of its objective position Lagos as Africa’s premier financial centre.

Lagos State and EnterpriseNGR, are poised to make history as the first African participants invited to join the prestigious Lord Mayor’s Show’s 805th procession in London.

The ground-breaking collaboration between Lagos State and EnterpriseNGR is built on their shared goal of positioning Lagos as Africa’s premier financial centre.

To actualize this vision, Lagos State has inaugurated Lagos International Financial Centre (LIFC) Council, in partnership with EnterpriseNGR – a member-led advocacy group that promotes the growth and development of Nigeria’s Financial and Professional Services (FPS) sector as a catalyst for economic development.

With the LIFC Council leading the charge, and in line with its strategic mandate, to not only attract global investors but also to ignite a wave of economic growth and innovation within the state, Lagos aims to captivate global investors, unveil its potential as an investment destination of choice, and pave the way for a transformative era of economic prosperity.

Addressing the press at the Lagos House, Ikeja, Sanwo-Olu, who will Chair the Council emphasised that the key objective of this historic participation in the Lord Mayor’s Show is to showcase the investment potential of Lagos and to elevate the State as a global investment destination.

“Lagos is not just going to London for the parade and pageantry; this visit has a more strategic purpose. This is a prime opportunity to showcase Lagos on a global platform. The newly inaugurated LIFC Council signifies not just an institutional milestone, but a commitment to a bold vision—positioning Lagos as the beacon of financial innovation in Africa.

“The Lord Mayor, Professor Michael Mainelli’s invitation stands as a resounding endorsement of Lagos State’s commitment to excellence, as well as recognition of its increasing economic prominence. This invitation aligns harmoniously with the council’s mission to establish Lagos as a global financial hub, attracting investments that will fuel sustainable economic development.

“Lagos and Nigeria’s enduring history with the United Kingdom reflects a proud Commonwealth partnership since gaining independence in 1960. Nigeria remains dedicated to fostering diplomatic and economic ties, presenting abundant investment opportunities in sectors such as oil, finance, technology, agriculture, healthcare, and infrastructure.

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“This resilient partnership, combined with Nigeria and Lagos’s commitment to growth, creates a promising landscape for UK investors eager to contribute to and benefit from the nation’s dynamic and expanding economy,” he said.

EnterpriseNGR’s Chairman, Aigboje Aig-Imoukhuede, who joins the Governor as Co-Chair of the Council added; “EnterpriseNGR stands as a catalyst for transformative change in Nigeria’s Financial and Professional Services sector. Our vision extends beyond advocacy; it’s a commitment to incentivise investments that go beyond financial gains.

“As we embark on this historic delegation to showcase Lagos on the global stage, we recognise the profound significance of attracting investments. Investment isn’t merely a transaction; it’s a catalyst for job creation, driving sustainable development and fostering a symbiotic relationship between investors, the State, and the communities at large.”

Ms. Obi Ibekwe, CEO EnterpriseNGR commented, “EnterpriseNGR’s participation in this historic delegation to the Lord Mayor’s Show underscores the critical role we play in driving transformative change within Nigeria’s Financial and Professional Services sector.

“We are not just advocating for growth; we are actively working to create a dynamic, interconnected and thriving FPS sector. The inauguration of the Lagos International Financial Centre (LIFC) Council is a testament to our unwavering commitment to fostering strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria.”

“The LIFC Council’s objective is clear – to align strategic partnerships that contribute to the economic prosperity of Lagos and Nigeria by establishing Africa’s premier International Financial Centre here in Lagos. EnterpriseNGR’s membership of the World Alliance of International Financial Centres puts us in good stead to ensure global best practises and competitiveness of the Lagos International Financial Centre.

“Our participation at the Lord Mayor’s show is an extension of welcoming hands to not just the UK audience but to the world at large with a clear message that Lagos is Open for Business. This delegation is a testament to our unwavering dedication to the larger vision of a prosperous and interconnected ecosystem and a Greater Lagos,” she said.


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