The Federal Government has inaugurated the National Steering Committee for the Lagos International Financial Centre (LIFC) Initiative, in a major step towards establishing Lagos as a globally competitive financial hub and strengthening Nigeria’s position in the international financial system. The development was disclosed in a statement signed by Head of……
The Federal Government has inaugurated the National Steering Committee for the Lagos International Financial Centre (LIFC) Initiative, in a major step towards establishing Lagos as a globally competitive financial hub and strengthening Nigeria’s position in the international financial system.
The development was disclosed in a statement signed by Head of the Information and Public Relations Department, Chris Ugwuegbulam, on Wednesday, September 2, 2026.
The committee was inaugurated in Abuja by the Secretary to the Government of the Federation, George Akume, who described the LIFC as a strategic national initiative aimed at deepening Nigeria’s capital markets, attracting domestic and foreign investment, promoting financial innovation and strengthening the country’s financial ecosystem.
“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,” Akume said.
He said President Bola Ahmed Tinubu had endorsed the LIFC Initiative as a strategic national economic priority and directed the OSGF to coordinate Federal Government support for its implementation.
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According to the SGF, the committee brings together key Federal Government institutions, the Lagos State Government and private-sector stakeholders to ensure effective coordination in tackling policy, legal, regulatory, institutional and infrastructure issues critical to the success of the financial centre.
He urged members of the committee to approach their assignment with commitment and urgency, stressing that the success of the initiative would depend on a strong whole-of-government approach and effective collaboration between the Federal Government, Lagos State Government and the private sector.
Akume also assured the committee of the full support of his office in facilitating the discharge of its mandate.
The National Steering Committee is chaired by Akume, while Lagos State Governor Babajide Sanwo-Olu serves as co-chairman. The Permanent Secretary, General Services Office, OSGF, Ibrahim Abubakar Kana, is the shadow chair, while Lagos State Commissioner for Finance, Abayomi Oluyomi, serves as shadow co-chair.
Other members include the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele; Attorney General of the Federation and Minister of Justice, Lateef Fagbemi; Minister of Foreign Affairs, Bianca Odumiegwu-Ojukwu; Minister of Interior, Olubunmi Tunji-Ojo; Minister of Industry, Trade and Investment, Jumoke Oduwole; Minister of Communications, Innovation and Digital Economy, Bosun Tijani; Governor of the Central Bank of Nigeria, Olayemi Cardoso; Director-General of the Securities and Exchange Commission, Emomotimi Agama; Executive Chairman of the Nigeria Revenue Service, Zacch Adedeji; and Chairman of EnterpriseNGR, Aigboje Aig-Imoukhuede.
The secretariat comprises the Director of Legal Services, OSGF, Kamilatu M. Kida, and Chief Executive Officer of EnterpriseNGR, Obi Obiekwe.
Speaking during the inauguration, Sanwo-Olu explained that international financial centres were deliberate instruments of national economic strategy designed to mobilise long-term capital, deepen markets and connect domestic opportunities with global capital.
He said their foundations included institutional trust, regulatory quality, legal certainty and international connectivity.
“LIFC, he explained can become the trusted platform through which Nigeria competes for global capital — and through which capital accesses African opportunity,” the statement said.
Sanwo-Olu added that the committee brings together Federal Government institutions, the Lagos State Government and private-sector stakeholders “represented by EnterpriseNGR” to coordinate efforts in addressing the policy, legal, regulatory, institutional and infrastructure requirements necessary for the centre’s success.
The inauguration marks a further step in efforts to position Lagos as an international financial centre capable of attracting global capital and supporting investment, innovation and sustainable economic growth in Nigeria.
Akume congratulated members of the committee and wished them a successful and impactful engagement.
