The Ministry of Mines and Steel Development debunked claims over the alleged sale of gold by the Governor of Zamfara State, Bello Matawalle, to the Central Bank of Nigeria, CBN.
This was contained in a statement signed by the Head of Press and Public Relations, Ministry of Mines and Steel Development, Etore Thomas, and made available, with the subject, ‘Zamfara Gold: Putting the Facts Right’.
According to the statement, people are seemingly portraying that some states in the country have right to aggregate minerals resources within their domain for their use, which is not true as all mineral resources remain on the Exclusive Legislative list as enshrined in the 1999 Constitution (as amended).
The statement also pointed that for the benefit of doubt, Section 44(3) states “the entire property in and control of all minerals, mineral oils and natural gas in, under or upon any land in Nigeria or in, under or upon the territorial waters and the Exclusive Economic Zone of Nigeria, shall vest in the Government of the Federation and shall be managed in such manner as may be prescribed by the National Assembly.” Likewise the Mineral Act of 2007 is very clear on issue of minerals ownership and exploitation.
According to the statement, it is in line with this that the Ministry of Mines and Steel Development is saddled with the responsibility for identifying the nation’s solid minerals, advising the government on the formulation and execution of laws and regulations guiding the various stages of prospecting, quarrying, and mining, and handling sale and consumption of solid minerals in the country, through the issuance of permits, licenses, leases and collection of rents, fees, and royalties.
The statement reads in part, “The attention of the Ministry of Mines and Steel Development has been drawn to media reports on reactions of individuals and groups to the purported news report about Zamfara State Governor buying gold from artisanal miners in the state and selling same to the Central Bank of Nigeria (CBN). Ordinarily, the Ministry would have been silent but for the negative impression those views are portraying; seemingly that states in some parts of the country have right to aggregate minerals resources within their domain to their use.
“On Zamfara State gold; Zamfara State has security challenges and the State government discovered that bandits were exploiting the ignorance of the artisanal miners, buy off their gold at very cheap price, take the gold across the border and sell at market price and exchange for ammunitions and guns, which was fueling banditry.
“Zamfara State government through a registered company, with a buying centre license is now buying gold from the artisanal miners at market price. This has no doubt discouraged the artisanal miners in the state from selling to bandits.
“Though states through their licensed corporate bodies can buy and sell gold to any interested persons or company, it is worthy of note that CBN did not and will not buy gold from Zamfara Government.
“The gold displayed by the Zamfara State government is called dore bars (semi-processed gold). CBN buys gold that is processed to 99.99% purity which is LBMA standard, tradable all over the world.
“The Federal Government encourages state governments to be part of the exploitation of minerals in the country by incorporating a limited liability company with which to approach the Ministry for a license for Mining or Buying Centres.
“Such corporate body/company must go through normal processes for approval and issuance of license. This license allows such company to exploit minerals in any given location which is called Cadastre Unit.”
The statement also explained that “As part of strategies to implement policies/programmes in the Mining Sector to broaden revenue generation and employment opportunities in line with the economic diversification agenda of this administration, the Presidential Artisanal Gold Mining Development Initiative (PAGMI) is being implemented. The components of the initiative included but not limited to Formalization of the artisanal miners into cooperatives This is to integrate their activities into the economic and institutional framework that would eliminate illegality; Registration of Buying Centres and Aggregators, to provide market access for artisanal miners, etc.
“Like in the oil and gas sector, revenues generated from mineral resources are paid into the federation account, and shared among the states during the monthly meeting of Federation Allocation Account Committee (FAAC). 13% derivation is paid on mineral resources exploitation from minerals producing states as done in the oil and gas sector.”
Your daily horoscope for Tuesday, August 9, 2022
BBNaija S7: Phyna, Bryann, Groovy, Ilebaye, and Khalid are up for eviction
“I’m sorry for all the embarrassment I’ve caused my wife, my kids, my mother and all our families,” – Two Face Idibia
How and when to view the best meteor shower of the year, the Perseids meteor shower, in 2022
Apple allegedly instructs suppliers to avoid labeling shipments to China with “Made in Taiwan”
Super Eagles hero celebrates Premier League accomplishment as “Dream Turns Reality”
Frenkie de Jong makes Chelsea transfer decision in phone call with Todd Boehly
Police re-arrest 25 other suspects and the escapee from Jos prison
Lagos policeman shoot and murder an ex-convict while battling with armed criminals
Cleaner received an eight-month sentence for stealing a laptop bag
Dariye and Nyame recover their freedom, 4 months after Buhari’s pardon
BREAKING: WAEC announces the 2022 WASSCE results
“Buga” is a victory song for Nigerian medalists
Kizz Daniel dazzles in a sold-out performance in Uganda
After four years of marriage, Gideon Okeke’s wife is getting a divorce
BBNaija S7: Beauty’s brother burns critics over disqualification: “Calm down, her script was wonderful.”
Your daily horoscope for Monday, August 8, 2022
#BBNaija: Christy O, Cyph evicted
Deadly Barcelona Thrashed PUMAS to win trophy, Lewandoski gets debut goal
Reactions to Manchester City’s opening-game 2-0 victory over West Ham: “Erling Haaland is scary.”
BBNaija S7: Beauty eliminated from reality TV show
Erik Ten Hag Chops First Breakfast as Man Utd Manager as Brighton Wins 2-1
Man Utd must let Ronaldo leave – Wayne Rooney
Australia Scholarship: Apply for Griffith University degree scholarship, 2022
Edo Govt To Recruit 1000 New Teachers, Train 650 Others
Ebonyi Govt Laments Destruction Of Airport Fence
Transfer: Real Madrid star, Isco to Sevilla as free agent
Transfer: Neto joins Bournemouth from Barcelona
Kano loses one pilgrim in Saudi Arabia
Tobi Amusan wins a gold medal at the Commonwealth Games and breaks a record
Deposed Emir Sanusi: “I’ll keep speaking out to rebuild Nigeria.”
Religious organizations disagree on how to pay for the Jos Main Market project
Jenkins security: The most recent plugin advisory contains flaws with unpatched XSS and CSRF
ParseThru: Multiple Go apps have been found to have an HTTP parameter smuggling issue
Director of Batgirl reveals After the movie was canceled, Marvel CEO Kevin Feige contacted him
Our pop queen dreams have come true with the epic Break My Soul and Vogue remix by Beyonce and Madonna
Buhari condemns killings of Nigerians and police officials in South East
In Ekiti, gunmen abduct a 4-year-old boy while the father runs
NDA changes the curriculum to better train cadets for asymmetrical warfare
In Everton’s tight loss to Chelsea, Alex Iwobi shines for the team
[STORY] MONEY OVER LOVE (Complete Episodes)
[STORY] THE WITCH’S DAUGHTER (Complete Episodes)
[STORY] WHAT MY ELDER BROTHER’S WIFE TAUGHT ME (Complete Episodes)
[STORY] SADE’S HEART TALE (Episode 19)
[STORY] THE WITCH’S DAUGHTER (Episode 07)
[STORY] MONEY OVER LOVE (Episode 01)
[STORY] WHAT MY ELDER BROTHER’S WIFE TAUGHT ME (Episode 01)
[STORY] THE WITCH’S DAUGHTER (Episode 01)
[STORY] THE WITCH’S DAUGHTER (Episode 03)
[STORY] MONEY OVER LOVE (Episode 09)
[STORY] WHAT MY ELDER BROTHER’S WIFE TAUGHT ME (Final Episode 04)
[STORY] THE WITCH’S DAUGHTER (Episode 05)
[STORY] THE WITCH’S DAUGHTER (Episode 04)
[STORY] WHAT MY ELDER BROTHER’S WIFE TAUGHT ME (Episode 02)
[STORY] WHAT MY ELDER BROTHER’S WIFE TAUGHT ME (Episode 03)
[STORY] THE WITCH’S DAUGHTER (Episode 06)
Revealed: Why Watford goalkeeper Maduka Okoye was not included in the team on Monday
[STORY] MONEY OVER LOVE (Episode 04)
[STORY] THE WITCH’S DAUGHTER (Episode 02)
[STORY] MONEY OVER LOVE (Episode 05)
[STORY] MONEY OVER LOVE (Episode 03)
[STORY] MONEY OVER LOVE (Episode 12)
[STORY] THE WITCH’S DAUGHTER (Final Episode 09)
[STORY] MONEY OVER LOVE (Episode 08)
[STORY] MONEY OVER LOVE (Episode 02)
[STORY] MONEY OVER LOVE (Episode 06)
BBNaija S7: Amaka and Phyna bemoan the lack of condoms in the home
Epic movie “Anikulapo” by Kunle Afolayan is scheduled to premiere in September
[STORY] MONEY OVER LOVE (Episode 11)
[STORY] THE WITCH’S DAUGHTER (Episode 08)
[STORY] MONEY OVER LOVE (Episode 14)
[STORY] MONEY OVER LOVE (Final Episode 20)
Nkem Owoh Breaks Silence On Claims He Rejected N10 Million To Endorse Bola Tinubu For President
“Nancy Isime Did Butt Enlargement Surgery” – Blessing Okoro Makes Shocking Revelation
Taurus: Personality qualities, star sign compatibility and Horoscope dates
Monalisa Chida claims the abductor’s phone may be used to find kidnapped Nollywood actors.
[STORY] MONEY OVER LOVE (Episode 17)
[STORY] MONEY OVER LOVE (Episode 18)
[STORY] MONEY OVER LOVE (Episode 10)
The representatives of Victor Osimhen call a CRUNCH meeting to debate the future of Napoli.
ANE's Billboard Hots
Technology1 month ago
VoIP Number: Everything You Need To Know
Music6 years ago
[Music] Ed Sheeran – Perfect
Music5 years ago
[Music] Wiz Khalifa – See You Again ft. Charlie Puth
Music1 month ago
[Instrumental] Wiz Khalifa – See You Again ft. Charlie Puth
ANE Stories1 month ago
The Story Of My Life (Complete Episode 1 – 47)
Movie Subtitle1 month ago
DOWNLOAD Complete Money Heist Season 1 Subtitles File [English SRT] 2017
Music3 years ago
[Music] Gnash Ft Olivia O’Brien – I Hate you, I Love you
Music1 month ago
[Video] 21 Savage ft. Offset & Metro Boomin – Rap Saved Me