The federal government, in cooperation with the United Arab Emirates (UAE), has agreed to prosecute the huge illegal gold transport from Nigeria to Dubai.
Mr. Olamilekan Adegbite, Minister for Mining and Steel Development, announced this in Forum of the Nigeria News Agency (NAN).
According to Adegbite, the Nigerian government is currently negotiating a bilateral agreement with the United Arab Emirates to review all gold that enters Dubai from Nigeria.
He noted that huge amounts of gold were being illegally transported from Nigeria to Dubai every day, adding that the gold was brought in by the UAE police without them realizing that no royalties were being paid to Nigeria.
“The UAE collects its own fees for gold arriving at Dubai Airport, but the Nigerian government has directed the UAE to ask anyone entering Dubai with Nigerian gold to pay an au s export certificates received to Nigeria before they are allowed through.
“We have been working with UAE to confiscate all gold from Nigeria without an export certificate; We told them that the value of gold will be shared equally as an incentive for the United Arab Emirates to end the illegal export of gold from Nigeria to Dubai.
“Everything we expected from everyone traveling from Nigeria to Dubai Our raw gold is supposed to pay royalties to the Nigerian government and an export certificate will be issued to that person.