Lagos State has taken a significant step in strengthening its financial sector with the signing of a Memorandum of Understanding (MoU) between the Lagos International Financial Centre (LIFC) and The City UK (TCUK)/Foreign, Commonwealth and Development Office (FCDO). The agreement, formalized at Lagos House, Marina, on Monday, March 24, 2025, aims to position Lagos as a global financial hub by fostering collaboration between Nigeria and the UK’s financial industries.
Governor Babajide Sanwo-Olu led the signing ceremony, joined by top government officials and financial stakeholders. Present at the event were the Chairman of EnterpriseNGR and Co-Chair of LIFC, Aigboje Aig-Imoukhuede, and the Director of International Development at The City UK/FCDO, Anna Rogers. Also in attendance were the Lagos State Commissioner for Finance, Abayomi Oluyomi; the Commissioner for Economic Planning and Budget, Ope George; and the Commissioner for Commerce, Cooperatives, Trade & Investment, Folashade Ambrose-Medebem.
The agreement brings together key players in Nigeria’s financial industry, including EnterpriseNGR, represented by its CEO, Obi Ibekwe, and international partners such as The City UK’s Head of EurAsia, Middle East, and Africa, Chika Mourah. Simon Field, Charge d’Affaires at the British Deputy High Commission in Lagos, was also present.
This collaboration is expected to facilitate investment opportunities, promote knowledge exchange, and enhance Lagos’ financial infrastructure. As Nigeria’s economic hub, Lagos aims to leverage this partnership to drive sustainable economic growth and attract global investors. The MoU marks a milestone in deepening Lagos-UK financial ties, paving the way for long-term cooperation in financial services and economic development.
