The Lagos Commodities and Futures Exchange gives the SEC an Eko Gold Coin.

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In an effort to boost confidence, organize the gold market, and expand the commodities ecosystem, the Lagos Commodities and Futures Exchange (LCFE) presented the Eko Gold Coin to the Securities and Exchange Commission (SEC), the top regulatory authority of the Nigerian capital market.

The Eko Gold Coin was developed to provide investors with an alternative asset class to stocks and fixed-income securities. Each coin is 24 carat gold, 50 grams in weight, and 99.99 percent pure.

The creation of novel items and the introduction of fungible instruments into the market, according to LCFE Chairman Patrick Ezeagu, are reforming and transforming the commodities ecosystem.

Awe stated that the visit to the SEC was to deliver the coins to them in their capacity as the leading regulator of the capital market. “It is vital to introduce it to the market to generate awareness and assure participation,” Awe added.

Thisdaylive.

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