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Victoria Island (VI) is an affluent area that encompasses a former island of the same name that sits between Lagos Island and the Lekki Peninsula in the Lagos Lagoon. It is the main business and financial centre of Lagos in Lagos State, Nigeria. Victoria Island is one of the most exclusive and expensive areas to live in Nigeria. The town and island lie within the boundaries of the Eti-Osa LGA. Originally designated an upscale residential area, failing infrastructure and overcrowding in the old business district on Lagos Island and lax zoning enforcement in Victoria Island led to a mass migration of businesses over the last twenty-five years. Today, Victoria Island is one of Nigeria’s busiest centres of banking and commerce, with most major Nigerian and international corporations headquartered on the Island. The Island has continued to rapidly develop and along with Ikoyi, is a favourite spot for Nigerians and foreigners to live and play.