The Federal Government has inaugurated a National Steering Committee for the Lagos International Financial Centre initiative as part of efforts to position Nigeria as a major destination for global capital and financial services.
Secretary to the Government of the Federation George Akume described the project as a strategic national economic initiative intended to deepen capital markets, attract domestic and foreign investment and promote financial innovation.
He said President Bola Tinubu had endorsed the Lagos International Financial Centre as a national priority and directed the Office of the Secretary to the Government of the Federation to coordinate federal support for its implementation.
The committee brings together federal institutions, the Lagos State Government and private-sector representatives.
Akume said its work would focus on legal, regulatory, institutional, policy and infrastructure issues necessary to establish a credible international financial centre.
He stressed that the initiative would require a whole-of-government approach as well as close cooperation with the private sector.
Akume chairs the committee, while Lagos State Governor Babajide Sanwo-Olu serves as co-chairman.
Other members include senior officials from the ministries of Finance, Justice, Foreign Affairs, Interior, Trade and Investment and Communications, as well as the Central Bank of Nigeria, Securities and Exchange Commission and Nigeria Revenue Service.
EnterpriseNGR is also represented.
Sanwo-Olu said international financial centers were deliberate instruments of economic strategy rather than simply collections of banks and investment firms.
He said their success depended on institutional trust, regulatory quality, legal certainty and international connectivity.
According to the governor, Lagos could serve as a platform through which Nigeria competes for global capital while giving investors access to wider African opportunities.
The committee is expected to develop a coordinated framework capable of improving investor confidence and reducing regulatory friction.
Government said the broader ambition was to create a financial ecosystem that could mobilize long-term capital for infrastructure, enterprise and economic development.
