LCFE, shareholders dialogue on strategic initiatives

The Board of a pan African Commodities Exchange, Lagos Commodities and Futures Exchange (LCFE) and the Exchange’s shareholders , have exchanged ideas on some of the strategic achievements of the Exchange and the way forward to enhance its contributions to the growth and development of the Nigerian economy.

The Managing Director and Chief Executive Officer of LCFE, Akin Akeredolu-Ale, who briefed the Exchange’s Shareholders during an interactive session in Lagos, explained many initiatives that the Exchange had implemented, including signing of Memorandum of Understanding (MoU) and trading of some asset classes to unlock full potentials and enhance its ability to contribute to the growth of the Nigerian economy.

“The Exchange is proud to have played a pivotal role in during the review of Investment and Securities Act (ISA) 2025, hence, dedicated section on commodities in the new Act stands as a testament to the contributions of the Lagos Commodities and Futures Exchange (LCFE).

” LCFE’s activities underscore commitment to unlocking the full potential of the commodities ecosystem, both domestically and internationally. This achievement not only reflects the Exchange’s strategic vision but also sets a new benchmark for inclusive policy development in Nigeria’s financial markets.

” We have signed Memorandum of Understanding (MoU) with AFCTA Associations of Commodities Exchanges , NG Clearing for CPP Services, Lascrico and Niger Foods, Cashew Association of Nigeria, Bureau Veritas , Coconut Venture Hub, Trading of Gold Coins, Paddy Rice and Head Rice while we are already trading on of Eko Rice contract.

” We also have agreement with Arewa Traders Association , Isheri Kara, Abbatoir, Alaba Rago, Ikorodu and Agege, Yam Sellers Association of Mile 12 International Market. We have regulatory approval to trade Solid minerals such as Lithum, Tin, Iron Ore, Coal. etc. Planning is on-going for the listing of Electricity Contracts.”, said Akeredolu-Ale.

In his welcome address, the LCFE’s Chairman, Chief Onyenwenchukwu Ezeagu, commended the Shareholders for their unwavering commitment to the shared vision of the Exchange.

“Your presence here today reflects your unwavering commitment to our shared vision, and it is a privilege to have you with us.
This meeting is a strategic initiative aimed at fostering a deeper relationship between LCFE and its shareholders. As we embark on this journey together, our primary objective is to provide you with a clear understanding of LCFE’s strategic direction.

“We are committed to transparency and accountability, ensuring that you are well-informed about LCFE achievements, milestones, and ongoing projects. This meeting serves as an opportunity to update you on the Exchange’s achievements, key milestones, and ongoing projects that continue to position LCFE as a dynamic force in the Commodities and Futures market ecosystem, both locally and internationally.

“This meeting serves as a platform for open and honest dialogue. Our goal is to strengthen your confidence in LCFE’s vision and operations, fostering a transparent and interactive communication channel. We therefore encourage your continued dedication and support, which is vital and invaluable to our long-term success. Together, let us work towards a brighter future for our Exchange, shareholders and the wider body of stakeholders in this market.”, Ezeagu.