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1-kilogram LBMA gold bars begin trading on Lagos exchange
Kian Smith to List Over 21 Billion Naira Worth Of Gold Bars On Lagos Commodities and Future Exchange
By Joshua Bassey
Business Day, Lagos, Nigeria
Tuesday, January 6, 2026
Kian Smith FZE is set to list and trade over 21 billion naira worth of 1-kilogram LBMA hold bars on the floor of Lagos Commodities and Futures Exchange.
Speaking during a recent joint interview involving Kian Smith and the exchange, Akin Akeredolu-Ale, managing director and CEO of the exchange, announced that it had received approval from the Securities and Exchange Commission to list Kian Smith 1-kg LBMA gold bars on its floor.
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The managing director highlighted that this was a transaction that had taken a lot of work and commitment. He commended the commission, led by Emomotimi Agama, the director-general, for the support the exchange had received. He explained that the EKO Gold transaction, which was the first listing on the exchange, showed the capital market the opportunities available in the gold sector through the exchange.
He further noted that this Kian Smith transaction would take the Nigerian capital market to another level in line with the $1 trillion economy target of President Bola Tinubu's federal government
The exchange managing director also commended Kian Smith for the work it has done in the gold sector, and the step the company has taken toward listing on the exchange. He noted that in line with the new investment guidelines provided by the Pension Commission, the listing of the 1-kg LBMA gold bars has come at the right time.
He also explained that the gold spot contracts have assembled a host of SEC-licensed capital market professionals from dealing member firms, receiving banks, depositories, collateral managers and so on, to ensure that the gold contracts are in line with all the relevant legal frameworks and risk management protocols. ...
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