Lagos Commodities and Futures Exchange (LCFE) was incorporated in May 2015 and was granted full operating License on June 14th, 2019 by the Securities and Exchange Commission (SEC, Nigeria).
LCFE was created to provide a transparent and standardised platform for the trading of commodities in four Asset classes.
These Assets Classes include the following:
- Agricultural commodities (Grains, Liquids, Tubers, Powders, etc)
- Solid Mineral Commodities
- Oil and Gas Commodities (Including By-products)
- Currencies (Local and Foreign)
The Main purpose of setting up LCFE is to enhance the Nigerian income revenue source; create transparency, price discovery, guarantee quality and prompt delivery, put Nigeria on the global revenue map directly and enhance flow of foreign currency into Nigeria.
It is our proposition to see the GDP of the Nigerian Economy move from a single digit to double digits. We intend to play our role in the advancement of the Nigerian Economy by bringing all the stakeholders of the Commodities Value Chain to the table in order to create sustainable relationships that would in turn benefit the Commodities Ecosystem.
We are currently seeking to expand strategic relationships with the following stakeholders of the Commodities Value Chain:
- Producers of commodities (Farmers, Aggregators, Miners, Crude Oil Producers, Bureaux de Change Operators)
- Commodity Traders
- Innovative Technology solution providers
- Central Securities Depositories (CSD)
- Warehousing and Logistics Organizations
- Cold Chain Organizations
- Tank Farm Owners
- Banks and Other Financial Institutions
- International Money Transfer Operators
- Certification Agents
- Insurance Companies
- Dealing Member Firms and Issuing Houses