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Lagos Moves to Build West Africa’s Leading International Financial Centre

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Lagos Moves to Build West Africa’s Leading International Financial Centre

By: Michael Mike

Lagos State has taken a major step toward repositioning Nigeria as a global investment destination with the unveiling of a comprehensive roadmap to establish a Lagos International Financial Centre (LIFC), envisioned as the leading financial hub in West Africa.

The roadmap is contained in a new report titled “Establishing an International Financial Centre in Lagos (LIFC), Nigeria”, produced by TheCityUK in collaboration with the UK Government, Lagos State Government, the Lagos International Financial Centre Council (LIFCC), and EnterpriseNGR. The report was formally launched at the State House, Marina, Lagos.

The high-level event attracted senior government officials, diplomats, and private sector leaders, including Lagos State Governor Babajide Sanwo-Olu, British Deputy High Commissioner to Nigeria Jonny Baxter, EnterpriseNGR Chairman Aigboje Aig-Imoukhuede, and EnterpriseNGR Chief Executive Officer Obi Ibekwe.

The initiative is aligned with Nigeria’s Agenda 2050 and the Lagos State Development Plan 2052, positioning the LIFC as a long-term catalyst for economic transformation. According to the report, the proposed financial centre will deepen capital markets, mobilise international investment, drive innovation, and support sustainable economic growth across Lagos, Nigeria, and the wider West African region.

The report underscores the importance of strong public-private collaboration, noting that Lagos’ demographic advantage, expanding financial ecosystem, and strategic location make it well-suited to host an international financial centre that meets global standards.

One of the report’s core recommendations is the creation of an independent IFC framework for Lagos. This model would provide regulatory certainty, simplified tax and policy regimes, and a transparent governance structure aimed at improving investor confidence and enhancing Nigeria’s competitiveness in global finance.

To differentiate Lagos from other emerging financial centres, the report identifies three priority sectors for initial focus: green and sustainable finance, fintech and financial innovation, and commodities trading and capital markets. These sectors are considered critical to Nigeria’s future economic diversification and resilience.

The report also highlights the need for robust legal and regulatory reforms, calling for close coordination between Lagos State, the Federal Government, regulators, and the private sector to ensure smooth implementation of the LIFC vision.

Human capital development is another key pillar of the strategy. Recommendations include strengthening local talent pipelines, easing visa requirements for international professionals, and creating an enabling environment that supports skills transfer and high-value job creation for Nigeria’s growing youth population.

In addition, the report proposes competitive and targeted tax incentives, streamlined business processes, and investment-friendly policies designed to attract long-term capital aligned with national development priorities.

Speaking at the launch, Governor Babajide Sanwo-Olu reaffirmed Lagos State’s commitment to the project, describing the International Financial Centre as essential to boosting market competitiveness and facilitating seamless trading.

“Lagos is Nigeria’s largest economic and financial centre, and we must create an ecosystem that attracts investment, improves liquidity, and strengthens market infrastructure,” the governor said, adding that the LIFC would unlock new opportunities for public-private partnerships in technology and capital market development.

British Deputy High Commissioner Jonny Baxter said the report reflects the deepening UK-Nigeria partnership, combining Lagos’ strengths with UK expertise to support financial sector development.

He noted that, if effectively implemented, the LIFC could unlock significant domestic and international investment, expand capital markets, create jobs, and promote sustainable growth beyond Lagos State.

Also speaking, TheCityUK’s Managing Director for International, Nicola Watkinson, described Nigeria as a high-growth market with strong long-term potential. She said the LIFC could play a vital role in attracting global capital, supporting fintech and green finance innovation, and creating high-value employment opportunities for young Nigerians.

With the launch of the report, stakeholders say the focus now shifts to implementation, as Lagos seeks to translate vision into action and establish itself as a globally competitive financial centre for West Africa.

Lagos Moves to Build West Africa’s Leading International Financial Centre

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SOJA Condemns Alleged Abduction of Teachers, Students in Oyo, Demands Urgent Rescue Efforts

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SOJA Condemns Alleged Abduction of Teachers, Students in Oyo, Demands Urgent Rescue Efforts

By: Michael Mike

A human rights organisation, Speak Out for Justice Advocacy Ltd./Gte. (SOJA), has condemned the reported abduction of teachers and students in Oriire Local Government Area of Oyo State, describing the incident and the alleged killing of a teacher, Mr. Michael Oyedokun, as “a case too many.”

In a statement issued on Thursday, the group expressed deep concern over reports that armed attackers abducted teachers and students from schools within the council area around May 15, 2026, while Mr. Oyedokun, a Mathematics teacher at Community High School, Ahoro-Esiele, was reportedly killed during the incident.

The organisation said several victims were still believed to be in captivity awaiting rescue.

SOJA, led by its Founder and Executive Director, Hameed Ajibola Jimoh, commiserated with the affected families and communities, warning that repeated attacks on schools and civilians across parts of the country were becoming alarming.

According to the advocacy group, the incident, if confirmed, raises serious constitutional and human rights concerns under both Nigerian law and international treaties to which Nigeria is a signatory.

Citing Section 14(2)(b) of the 1999 Constitution, SOJA stressed that “the security and welfare of the people shall be the primary purpose of government,” while Sections 33, 34 and 35 guarantee the rights to life, dignity and personal liberty.

The group also referenced Nigeria’s obligations under several international and regional legal frameworks, including the United Nations-backed International Covenant on Civil and Political Rights (ICCPR), the Convention on the Rights of the Child (CRC), the African Charter on Human and Peoples’ Rights (ACHPR), and the African Charter on the Rights and Welfare of the Child (ACRWC).

SOJA argued that the obligations imposed by these instruments go beyond symbolic commitments, requiring authorities to take practical and preventive steps to protect lives, especially those of vulnerable groups such as school children and teachers.

“The implication of these obligations in the present circumstances is that government responsibility extends beyond merely reacting after tragic events occur,” the statement said.

The organisation acknowledged reports that security agencies had intensified rescue operations and investigations, but maintained that recurring attacks on schools demanded more decisive and proactive measures.

“This is a case too many,” the statement added.

SOJA therefore called for the immediate intensification of lawful rescue efforts for those still in captivity, a thorough investigation into the incident, prosecution of perpetrators, strengthened security around schools and vulnerable communities, and adequate support for affected victims and families.

The group further urged the government to undertake a comprehensive review of strategies aimed at preventing future attacks on educational institutions.

“Teachers should not become targets. Schools should not become zones of fear. Children should not bear the burden of insecurity,” the organisation stated.

SOJA Condemns Alleged Abduction of Teachers, Students in Oyo, Demands Urgent Rescue Efforts

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Troops recover suspected stolen motorcycle in Plateau

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Troops recover suspected stolen motorcycle in Plateau

By: Zagazola Makama

Troops of Sector 6, Operation Enduring Peace have recovered a suspected stolen motorcycle following a pursuit of suspected motorcycle snatchers in Riyom Local Government Area of Plateau.

Security sources disclosed that the incident occurred at about 6:30 p.m. on May 21 along the Bachi-Banghai road after troops received reports on the activities of suspected motorcycle snatchers in the area.

The sources said the troops immediately mobilised and pursued the suspects, who abandoned the motorcycle and fled upon sighting the security personnel.

According to the sources, the recovered motorcycle has been secured, while efforts were ongoing to identify the rightful owner and apprehend the fleeing suspects.

The military said the operation formed part of sustained efforts to combat criminal activities and enhance security across Plateau.

Troops recover suspected stolen motorcycle in Plateau

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Troops launch rescue operation after abduction in Plateau

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Troops launch rescue operation after abduction in Plateau

By: Zagazola Makama

Troops of Sector 1, Operation Enduring Peace have launched a rescue operation following the abduction of a resident in Bassa Local Government Area of Plateau.

Security sources disclosed that the incident occurred at about 11:00 p.m. on May 21 when gunmen reportedly abducted Mr Eze Emeka from his residence at Agingi village.

The sources said troops swiftly responded to the distress report and commenced rescue operations in collaboration with other security agencies.

According to the sources, efforts were ongoing to track down the kidnappers and secure the safe release of the victim.

The military assured residents that security forces were intensifying operations to curb criminal activities in the area.

Troops launch rescue operation after abduction in Plateau

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