After Sen. Kalu's Motion, Senate To Investigate Illegal Exportation Of Gold Worth $9bn Yearly

As the country grapples with dwindling revenue, Senate has concluded plans to begin a 3-day public hearing to investigate the yearly loss of $9billion as a result of illegal mining and smuggling of Gold out of Nigeria.

This public hearing scheduled to commence Monday follows a motion moved by Senate Chief Whip and Senator representing Abia North, Sen. Dr. Orji Uzor Kalu.

Our correspondent gathered that the three-day public hearing to address the illicit activities in the nation's mining sector especially as the activities of illegal miners continue to cause revenue leakage.

Recall that the Senate at its plenary session last year passed resolutions to investigate the loss of revenues worth billions of dollars due to illegitimate mining.

Giving analysis to his colleagues, Kalu disclosed that Nigeria lost close to $54b from 2012 to 2018 due to illegal smuggling of gold.

While also pointing out that the country is said to be losing about $9 billion yearly to illegal mining and gold exportation, a huge amount of money unaccounted for through under-the-radar sales of the expensive commodity.

Kalu disclosed further that the activities of unlicensed miners were becoming prevalent within the industry and the incessant smuggling of the solid mineral out of the country by middlemen and smugglers, is leading to loss of government revenue.

According to Kalu, gold mining operations in Nigeria are capable of providing no fewer than 250,000 jobs and over $500 million dollars annually in royalties and taxes to the federal government and as mineral resources.

Raising additional concerns Kalu explained that jobs and revenue accrued to the mining sector would further diversify the nation’s economy and improve the foreign exchange reserve. He elucidated that due to Nigeria’s current estimated gold reserves of over a 200million ounces, most of which have not been exploited, developing sustainable programmes that will catalyse increased investment in the extraction and refining of gold sourced from mines in Nigeria, is indeed vital.

Making reference to data obtained from the Ministry of Solid Minerals and Development, Kalu revealed that there are gold deposits in Federal Capital Territory Abuja, Abia, Bauchi, Cross River, Edo, Niger, Sokoto, Kebbi, Oyo, Kogi, Zamfara, Osun, and Kaduna states.

Kalu argued that if the country conserves it's gold reserves, and ensures effective exploitation, the accruing revenue would surpass that of oil and gas.

In his lead discourse, Kalu drew the attention of colleagues to section 44 (3) of the Nigerian Minerals and Mining Law of 1999 which provides that ownership and control of all minerals in Nigeria is vested in the federal government, which is mandated to manage such natural resources in a manner as may be prescribed by the National Assembly.

Acting on Kalu's Motion, the Senate in its resolutions mandated it's Committee on Solid Minerals, Mines, Steel Development, and Metallurgy to investigate the matter and launch an investigation on the matter and report back to the Senate.

It is expected that the Senate will during the three-day hearing grill major Government and non Governmental stakeholders in the mining sector over the clandestine activities of illegal miners in the country.

Other matters scheduled for the three-day public hearing include bills on; Nigerian Minerals Development Corporation (Establishment) Bill 2021 (SB.505),Solid Minerals Producing Areas Development Commission (Establishment) Bill 2021 (SB.713) and Institute of Bitumen Management (Establishment) Bill 2021 (SB.663).iv. Explosive Act 1964 (Repeal and Re-enactment ) Bill 2021 (SB.749).

Former Governor and Chairman Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy, Senator Tanko Al-Makura is expected to preside over the three-day legislative activity.

According to a notice signed by Al-Makura the committee also invites State Governors, the Governor Central Bank of Nigeria, the Hon. Minister of Mines and Steel Development, Minister of Finance, Hon. Minister of State of Mines and Steel Development, the Permanent Secretary and top Management Staff of Ministry of Mines and Steel Development, the DGs/CEOs of Parastatals and Agencies under the Ministry of Mines and Steel Development, the Executive Secretary NEITI, Nigeria Labour Congress, Nigeria Immigration, NEXIM, the BOI, Chambers of Commerce, Mines, industries and Agriculture, Manufacturers Association of Nigeria, Nigeria Mining and Geo-sciences Society, All Stakeholders, NGOs, CSOs, Artisanal Miners, Nigeria Council of Mining Engineers, Women in Mining Nigeria, Gold Dealers Association and the General Public.

Source: https://abntv.com.ng/2021/09/after-sen-kalus-motion-senate-to-investigate-illegal-exportation-of-gold-worth-9bn-yearly/

Probably IPOB terrorists senator..... In the picture above

Like for senate share fo house of assembly

9bn yearly!?? Keep investigating

One Nigeria is only about the resources in the South.

One Nigeria doesn't apply to the resources in the North.

The North are bullies, bullying the ever helpless and weak south.

They should be pitying us small, because we literally live under their mercy.

Moneys moved from this country illegally annually is about $330bn

$9 billion yearly yet we go cap in hand begging for loans from any source available!

How much is our budget again for the year?

Are the senators going to investigate or just want to take their own cut?

Their gold is theirs, while our oil is for everyone. That's the kind of politics they accuse Igbos of not playing. Politics of deception and oppression.

9b worth of gold are been illegally moved out of the country yearly, that is huge waste.

it will still be a case of my own is mine, your own is our own.

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Medicine after death.

Lol, very funny so called leaders in a serious country like Nigeria ..

Investigate what? As if they don't know, or they're not part of the illicit business..

Who's supplying bandits,ESN, boko haram,ISWAP and their likes weapons?

Nigerians wise up! Not everything we have to blame Buhari for. Your (indigenous) leaders are cashing out from Buhari as excuse...

Mumu senators.....una no fit tackle insecurities and terrorism wey don hit the country, instead na wetin dem go loot from dem wor investigate......

Na people wey dey take them serious I blame cha

Gold of 9 Billion Dollars?

Morons.

Senators from the South, especially the Niger Deltans are the most useless. Shame dey catch me. Weak ass lily liveried fools. The only thing they are good at is demanding respect from their wives by force, in spite of how useless they are. Even a dog should accord them no respect.

Just a ploy to set up another bogus committee that has no effect on the standard of living of the general populace. The destruction of the economy by this administration does not serve the average northerner, only their elites.

The same people and organizations who smuggle out the gold are the same who will do the investigation.

By the way, why not get us a report from the security agencies directly? The “investigators” will rely on evidence from the security agencies, so why beat about the bush.

SenatePresdo:
One Nigeria is only about the resources in the South.

One Nigeria doesn't apply to the resources in the North.

The North are bullies, bullying the ever helpless and weak south.

They should be pitying us small, because we literally live under their mercy.

The south likes it like that
Feckless lot

Metrix147:

Source: https://abntv.com.ng/2021/09/after-sen-kalus-motion-senate-to-investigate-illegal-exportation-of-gold-worth-9bn-yearly/

As if they don't know the people behind it... bunch of hypocrite.

kmcutez:
Senators from the South, especially the Niger Deltans are the most useless. Shame dey catch me. Weak ass lily liveried fools.

Shameless

wtf

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Hangmnk:
Probably IPOB terrorists senator..... In the picture above

I know someone from zamfara state will not be happy with what Kalu said on the gold.

And niger Delta can't export crud oil on thier own.....unal try well well.

9japride:
Their gold is theirs, while our oil is for everyone. That's the kind of politics they accuse Igbos of not playing. Politics of deception and oppression.

Thank you. I asked someone a question here sometime ago. This kind of politics that you accuse the east of being adamant to hence their exclusion from the Nigerian political scene. What good has it brought to the nation in general ??

And I'm here suffering,
These country nawah o.

This Zamfara illegal gold exploitation is painful as a Southerner...

Oil from the Niger Delta is exported and the proceeds shared amongst the 36 states and FG but Gold in Zamfara belongs to Zamfara.

If militants and all this Niger Delta leaders were serious about their agitation for resource control, then they'd have stopped all the activities of IOCs in the region...

rex21:


Thank you. I asked someone a question here sometime ago. This kind of politics that you accuse the east of being adamant to hence their exclusion from the Nigerian political scene. What good has it brought to the nation in general ??

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Don't mind them, how has this kind of backward politics helped us? Rather we should copy the good part of European politics that accommodate everyone and ensure development is spread across the country.