Because of its location near the banks of River Niger, it was an important centre for slave trade during the Nupe wars.Also because of its strategic location as a confluence of the River Niger and River Benue, Lokoja aroused a great deal of interest in the European explorers and missionaries in early 19th century and it soon became a commercial post for European merchants and Missionaries. Hence, when the British government started to wage war against slave trade, Lokoja became a collection centre for slaves seized from slave merchants to be consequently set free. The spot where such slaves were freed, is marked with a piece of iron pole, now referred to as The Iron Of Liberty.
It is located at present day Holy Trinity Anglican Church, Lokoja.