fbpx
BUSINESS & ECONOMYNEWSNEWSLETTER

FG Doubles Down On Gold Export Certificate, Royalties

FG Doubles Down On Gold Export Certificate, Royalties

The Minister of Mines and Steel Development, Olamilekan Adegbite, has said that the Nigerian Government and the government of the United Arab Emirates (UAE) would collaborate to ensure that gold exporters from Nigeria present a certificate of exportation.

He noted this at the News Agency of Nigeria (NAN) Forum, adding that the certificate would be “automatically integrated” into the system of the Nigeria Customs Services (NCS).

Adegbite said, “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.

READ ALSO: Economic Revamp Works With Working Food System – Aide

“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 our raw gold 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 exportation of gold but royalty must be paid.”

About Author

Kindness Udoh is a writer and media enthusiast with vast experience in journalism, copywriting, and features across beats. He also has professional certifications in creative writing. You can reach him via [email protected]

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.