On September 29, 1938, Ikoyi Club 1938 officially came into being through the merger of the European Club and Lagos Golf Club. The Incorporation was entrusted to three nominated trustees namely, Sir Donald Kingdom, Henry Stewart and David Duncan Gibb. The European Club was first located on the site of what was later known as the Ikoyi Hotel which was then Ikoyi Government Guest House, also known as the Catering Rest House.
The Lagos Golf Club moved from 18, Race Course Road to the present location in 1927, and at one time occupied the land on which the old Federal Secretariat Ikoyi now stands. Long after the amalgamation of the European Club and the Lagos Golf Club, the Ikoyi Club 1938 remained essentially an “expatriates club” run by top European Civil Servants and members of the business communities. The Ikoyi Club 1938 has metamorphosed from its European-only membership into one of the best examples of multiracial clubs in the world with membership drawn worldwide