All NewsNews

Nigeria, UAE to track illegal gold trade -Minister

The Federal Government in collaboration with the United Arab Emirates (UAE) have agreed to track huge illegal movement of gold from Nigeria to Dubai.

Olamilekan Adegbite, Minister of Mines and Steel Development, announced this in the NAN Forum.

According to Adegbite, Nigerian government is currently negotiating a bilateral agreement with the UAE to check every gold entering Dubai from Nigeria.

He noted that huge quantity of gold were being moved from Nigeria illegally on a daily basis to Dubai, adding that it passed through UAE police freely unknown to them that royalties were not paid to Nigeria.

“The UAE collect their own charges on gold that arrived in Dubai airport but Nigeria government has told UAE to ask anyone entering Dubai with Nigeria gold to present certificate of exportation got from Nigeria before allowing them to pass.

Tokyo Olympics action starts with hosts Japan beating Australia in softball

“We have agreed with UAE to seize any gold from Nigeria without certificate of exportation; we told them that the value of the gold will be shared equally  as an incentive for UAE to eradicate illegal exportation of gold from Nigeria to Dubai.

“All we expected from whoever that is travelling from Nigeria to Dubai with it is to pay royalty to the Nigeria government and such person will be given certificate of exportation.

“The certificate of exportation will be automatically integrated into the Nigeria Customs Services system, our law accepts its exportation but royalty must be paid,” he said.

 

Show More

Related Articles

Leave a Reply

Back to top button