New Telegraph

December 5, 2023

IPMT: FG directs CBN to buy gold from Zamfara miners

The Federal Government has directed the Central Bank of Nigeria to henceforth buy gold and other related mined products directly from miners in Zamfara State with a view to sanitising and safeguarding the business in order to boost the nation’s economy. This was disclosed by the Assistant Chief Geologist with the Investment Promotion and Mineral Trade Department (IPMT) of the Ministry of Mines and Steel Development, Mrs. Abutu Nwakego, who led a team of mining officers to sensitise associations of Gold Buyers and Sellers in Zamfara State yesterday.

Nwakego explained that the essence of the visit and organising the meeting, which was held at the state capital, was to enforce Federal Government’s Gold Mining Initiative and to sensitise mining associations on the importance of avoiding use of illegal means of occupying and managing the abundant mining sites across the state.

“The aim of the Federal Government by introducing Gold Mining Initiative (GMI) was to utilise the abundant mineral resources across the nation to align its dependence on oil to gold and other mined valuables with a view to acquire a stabilised economy,” Nwakego explained. Also speaking, Zamfara State Federal Mines Officer, Mr. Abunumah Samuel, advised the miners to embark on preparations towards making their business transactions through ways introduced by the federal government, which included issuance and renewal of licences.

“To make your business safe, comfortable and lucrative, the Federal Government has directed the CBN to serve as off takers of gold and all other related products, hence the need to commence channelling your products through our Federal Mines Office. “Our office is saddled with responsibilities to canvass for large and small scale buyers and sellers of legally-mined products from within and outside Nigeria for all gold buyers and sellers associations in Zamfara State, our services will remain for your legal engagements into gold trades,” Samuel has assured. Speaking on behalf of the targeted associations, Chairman of Gold Buyers and Sellers association in the state, Alhaji Adamu Maizinare, said the state government used to chase their members from legally occupied mining sites without proper investigation on whether it was legal or otherwise.

Maizinare, however, called for the intervention of the Federal Government to clear the air for the state government to, with immediate effect, lift up the ban on mining activities in the state so that the idea behind introducing the Gold Mining Initiative would succeed.

Read Previous

Channels TV debate: APC to Obaseki: Do not run away

Read Next

Kwara flags off distribution of 50,000 cocoa seedlings

Leave a Reply

Your email address will not be published. Required fields are marked *