Gold trading kicks off in Nigeria

Nigeria kicks off gold trade

NIGERIA has launched trading of its gold coin, via the Eko Gold Coin,  following on the heels of  Zimbabwe’s launch of the Mosi-ao-tunya gold coins on July 25, 2022.

The launch of the Eko gold coin by the Lagos Commodities and Futures Exchange (LCFE), which is licensed by the Securities and Exchange Commission (SEC), is aimed at trading gold with the London Bullion Market Association and targeting globally acceptable pricing and quality.

During the launch of the Eko gold coin on July 28, 2022, the Governor of Lagos State, Babajide Sanwo-Olu, said in his speech, “Today, ladies and gentlemen, history is being made with the formal commissioning of this Securities and Exchange Commission (SEC)-regulated marketplace, dedicated to the electronic trading of Nigerian agricultural commodities, solid minerals, and oil and gas, and to globalizing this trade, through partnerships with other Commodity Exchanges around the world.”

Sanwo-Olu stated that the…

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