The need to diversify the Nigerian economy cannot be over-emphasized; with Nigeria playing a Pan-African leadership role in the mining of Gold as a Reserve Currency in West-African and African intra-trades. Diversification of the economy would require expansion of Nigeria’s non-oil exports particularly Solid Minerals and other commodities.

The Nigerian commodity production and trading sector is largely inefficient and unorganized, but potentially lucrative.

Nigeria’s International Trade in Solid Minerals and commodities is grossly insufficient. This justifies the timely establishment of a gold trading investment class in order to activate Nigeria’s solid mineral sector.

How do I trade Gold on LCFE?

Gold can be traded on the LCFE platform through any registered Dealing Member Firm. 

What are the benefits of trading Gold on LCFE's platform?

Gold historically has been used as a hedge against inflation and as a portfolio diversifier.  LCFE provides a transparent platform for the trading of Gold. 

How is the price of Gold determined on LCFE?

The price of gold traded on the LCFE is based on the prevailing international price of gold, the cost of production, price of vaulting and a & mark-up by issuer. In other words, the gold is usually sold at a premium.

What is the specification of each coin available for sale?

Quality/ Purity = 99.99% (24 Karat Gold), 

Weight                =  50 g 

Diameter            = 40 mm 

Thickness           = 2.3mm

How do I start Buying or investing in Eko Gold Coin? 

All trades on Gold are done through registered Dealing Members of the Exchange. Kindly select a registered dealing member firm and open a customer account with them. They will onboard you with the Central Securities Depository (CSD) and create a trading account. Once this is done you can send a mandate to them to buy Gold for you. 

Who are the Transaction Advisers of the EKO Gold Coin?

The Transaction Adviser of the Eko Gold Coin transaction is GTI Capital Limited. 

Must I buy through Dealing Member Firms?

Yes, you can buy Eko Gold Coin through any of the registered Dealing Member Firms of LCFE.