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Communique – February 2018
COMMUNIQUE OF THE COUNCIL MEETING OF THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY [LCCI] HELD 7TH FEBRUARY 2018 The LCCI Council meeting took place on Wednesday 7th February, 2018 under the Chairmanship of its President, Mr Babatunde Paul Ruwase, FCA. The meeting deliberated on the impact of heightened insecurity on businesses across the country as…
LCCI Holds Stakeholders’ Forum on African Continental Free Trade Agreement (AFCFTA)
The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organised private sector (OPS) in Nigeria, is set to hold a Stakeholders’ Forum on African Continental Free Trade Agreement (AfCFTA) aimed at providing a platform for private sector stakeholders to deliberate on the trade agreement in…
Agenda for Economic Diversification
Three critical factors are crucial to drive economic diversification in the Nigerian economy. These are the quality of infrastructure, the quality of policies and the quality of institutions. It is crucial to get these key parameters right. It is equally critical to ensure proper alignment among these key variables to ensure sustainable economic diversification. The…
LCCI, NLNG Holds Workshop to Celebrate World Malaria Day
As part of the continued search for long-standing solutions to the malaria scourge and in commemoration of the World Malaria Day (WMD), the winners of the 2017 edition of The Nigeria Prize for Science today in Lagos presented their winning work on Malaria to members of the medical and pharmaceutical wing of Lagos Chamber of…
THE NIGERIAN ECONOMY AT 59
Over the last 59 years the Nigerian economy has transformed from a basically agrarian economy to an economy driven largely by resources from the oil and gas sector. The 2019 first quarter GDP data shows that the non-oil sector accounts for 90.9% of the GDP while the oil sector accounts for 9.1%. The paradox is…

LCCI COMMENTS ON THE CBN CIRCULAR ON PAYMENT FOR FORM M, LETTERS OF CREDIT, AND OTHER FORMS OF PAYMENT
We refer to the Central Bank of Nigeria [CBN] circular of 24th August which directs that Form M for Letters of Credit, Bills for Collection and other forms of payment should only be opened in favour of the ultimate supplier of a product or service. While the Lagos Chamber of Commerce appreciates the efforts of…