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CBN did not give us contract to produce gold ― Zamfara govt

CBN did not give us contract to produce gold ― Zamfara govt

Zamfara State government has denied reports that the Central Bank of Nigeria (CBN) has given the state contract to produce gold for the apex bank.

Recall that last week the media, especially the social media, was dominated with reports that the CBN has asked the state to produce N5bn worth of gold.

In a statement issued by the Special Adviser on Public Affairs, Media and Communication, Zailani Bappa on Friday, however, debunked the claim by one Lawyer, Mr Joseph Onu Silas, accusing the Central Bank of Nigeria (CBN) of violating its constitutional boundaries to “trade” in gold with the Zamfara State Government.

He further accused the State Government as well of claiming to “own” the gold deposit in the state.

The statement maintained that the law did not give the state power to do so, more so, it said as a law-abiding citizen, the state governor, Bello Matawalle is very much in tune with the mining laws.

Thus, the statement disclosed, “those who think alike, the Central Bank of Nigeria (CBN) did not enter into any trade agreement with Zamfara State Government as claimed by the Lawyer.

happened and to set the record straight is the fact that the CBN, just like in Agriculture, is willing to invest in mining as part of an anchor-borrowers scheme where the apex bank will invest in the said amount for the state government to supply it with gold as a proceed of the investment.

“This is aimed at boosting the mining sector in the country which is within the provisions of the scheme.

According to the statement, “correspondingly, the state government is not directly mining the gold for itself, it will rather purchase the gold from the Federal Government registered mining companies in the state.

“Surely, all Nigerians are aware that the Federal Government is in the process of re-registering qualified companies allowed to mine mineral resources in the state on its behalf, just as it is obtained in the oil sector.

“It is, therefore, disheartening that educated Nigerians will react to issues of national importance in the media, dictated from the sentiments of their hearts rather than the facts digested from their brains.

“Zamfara State Government, therefore, wishes to assure all Nigerians that it will abide by the laws of the Federal Republic of Nigeria and use same as a guide to the management of mineral deposits in the state.

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