The Federal Government and the United Arab Emirates (UAE) have agreed to collaborate in order to track illegal movement of gold from Nigeria to Dubai. This was revealed by the Minister of Mines and Steel Development, Olamilekan Adegbite in Abuja.
He said that huge quantity of gold were being moved illegally from Nigeria to Dubai daily, adding that the gold passed through UAE police because unknowingly to them, royalties were not paid to Nigeria.
“The UAE collect their own charges on gold that arrived in Dubai airport but the Nigerian government has told UAE to ask anyone entering Dubai with Nigeria’s gold to present a certificate of exportation got from Nigeria before allowing them to pass. 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 Nigerian 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,” he said.