FG inaugurates committee for Lagos international financial centre

The Federal Government has formally inaugurated the National Steering Committee for the Lagos International Financial Centre (LIFC) Initiative, marking a significant milestone in Nigeria’s drive to establish a globally competitive financial hub in Africa.

Secretary to the Government of the Federation, Sen. George Akume inaugurated the committee at a ceremony held on Wednesday, in Abuja, according to a statement by the Head, Information and Public Relations Department, Mr. Chris Ugwuegbulam.

Akume explained that LIFC is a strategic initiative designed to deepen Nigeria’s capital markets, attract domestic and foreign investment, promote financial innovation, and strengthen the country’s financial ecosystem for sustainable economic growth.

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“The establishment of the LIFC presents an opportunity to leverage Lagos’ strategic position and Nigeria’s economic potential to create a financial centre of international standing,” he said.

He noted that His Excellency, President Bola Ahmed Tinubu, GCFR, has endorsed the LIFC Initiative as a strategic national economic priority and directed the Office of the Secretary to the Government of the Federation to coordinate Federal Government support for its implementation.

The Committee, he added, brings together key Federal Government institutions, the Lagos State Government, and private sector stakeholders to ensure effective coordination in addressing policy, legal, regulatory, institutional, and infrastructure issues critical to the Centre’s success.

He urged members to approach the assignment with commitment and urgency, emphasising that the success of the LIFC will depend on a strong whole-of-government approach and effective partnership between the Federal Government,…