The Board of an exchange of basic Pan -African products, the commercials of the products and futures of Lagos (LCFE) and the shareholders of the exchange, have exchanged ideas about some of the strategic achievements of the exchange and the way to follow to improve their contributions to the growth and development of the Nigerian economy.
The managing director and executive director of LCFE, Akin Akeredolu-OLE, who informed the shareholders of the exchange during an interactive session in Lagos, explained many initiatives that the exchange had implemented, including the signature of comprehension memorandum (Mou) and the trade of some kinds of assets to unlock maximum potential and an improvement of its ability to hire the growth of the Nigerian.
“The exchange is proud to have played a fundamental role during the review of the review of the Investment and Securities Law (ISA) 2025, therefore, the section dedicated to the basic products in the new act is a testimony of the contributions of the commercials of the comforts and future of Lagos (LCFE).
“LCFE's activities underline the commitment to unlock the entire potential of the basic products ecosystem, both nationally and internationally. This achievement not only reflects the strategic vision of the exchange, but also establishes a new point of reference for the development of inclusive policies in Nigeria's financial markets.
“We have signed the Memorandum of Understanding (MOU) with the AFCAs associations of the exchanges of basic products, the compensation of the CPP services, the foods of Lascrico and Niger, the Association of Anacardos of Nigeria, the Veritas of the Office, the Coconut Business Center, the trade of gold currencies, the rice with the rice and the main rice while we are already in the EKO rice contract.
“We also have agreement with the Arewa Trader Association, Isheri Kara, Abbatoir, Alaba Rago, Ikorodu and Agege, the Yam Sellers Association of Mile 12 International Market. We have the regulatory approval of commercial solid minerals such as Lithum, Tin, Ore de Hierro, coal. The planning is in progress for the list of electricity contracts.”
In his welcome speech, the president of the LCFE, Chief Onyenwenchhwu Ezeagu, praised the shareholders for their unwavering commitment to the shared vision of the exchange.
“His presence here today reflects his unwavering commitment to our shared vision, and it is a privilege to have it with us. This meeting is a strategic initiative aimed at promoting a deeper relationship between LCFE and its shareholders. As we embarked on this trip together, our main objective is to provide a clear understanding of the strategic direction of LCFE.
“We are committed to transparency and responsibility, ensuring that it is well informed about LCFE achievements, milestones and ongoing projects. This meeting has as an opportunity to update it on the achievements of exchange, key milestones and ongoing projects that continue to position LCFE as a dynamic force in the ecosystem of basic and future products, both local and international.
“This meeting serves as a platform for an open and honest dialogue. Our goal is to strengthen its confidence in LCFE's vision and operations, encouraging a transparent and interactive communication channel. Therefore, we encourage continuous dedication and support, which is vital and invaluable for our long -term success. Together, we allow ourselves to work towards a brighter future for our exchanges, shareholders and the most vital body in this market.