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Zamfara, CBN Enter Into N5bn Gold Deal - Politics - Nairaland

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Zamfara, CBN Enter Into N5bn Gold Deal by NwaNimo1(m): 10:20pm On Oct 06, 2020
Gov. Bello Matawalle of Zamfara says that his administration has entered into a N5 billion gold supply deal with the Central Bank of Nigeria (CBN).

The governor made the disclosure on Tuesday in Gusau, at a press conference to present the 31-kilogramme Zamfara processed gold.

He said that the state government would, at an agreed time during the year, supply the gold equivalent of the amount.

“Following the global acceptance of the high quality of the gold dug from the state, the apex bank approached us with the deal, which we believe is a good business.

“At the moment, we have commenced our gold reserve with this 31 kilogramme of pure gold and I have presented the sample of the commodity to the president.

“This is the first of time, in the history of our country, that a state will discover its internal potential in gold and channel it in developing the economy of the state,” Matawalle noted. shocked

He said that the state’s gold reserve would be deposited in an undisclosed designated place, which could be utilised in times of need.

“We have to diversify our state economy, especially with the bitter economic experience we went through as a result of the COVID-19 pandemic, collapse in oil prices and other economic uncertainties cutting across the globe.

“In gold however, we expect better and higher returns than in other stocks because there is higher multiplier effect in gold and it will enhance the gains of our local miners towards the attainment of the Zamfara of our dream,” he said.

The News Agency of Nigeria (NAN) reports that the governor did not state the current market price of gold so as to know how much it would cost the state government to buy the 31 kilogramme.

He, however, referred to google for the price, which he explained, changed on an hourly basis, sometimes. (NAN)
Re: Zamfara, CBN Enter Into N5bn Gold Deal by NwaNimo1(m): 10:21pm On Oct 06, 2020
Is this cake not meant for sharing?

The North sha....

[img]https://media./images/49ec0e39b0242e9a4a32d88b754ff022/tenor.gif[/img]
Re: Zamfara, CBN Enter Into N5bn Gold Deal by Elvictor: 11:31pm On Oct 06, 2020
can we now disintegrate the country?
Re: Zamfara, CBN Enter Into N5bn Gold Deal by slivertongue: 12:13am On Oct 07, 2020
good news . but five billion is too small. one hundred billion upward is ok
Re: Zamfara, CBN Enter Into N5bn Gold Deal by FarahAideed: 12:21am On Oct 07, 2020
So Zamfara state govt can sell gold to CBN but Rivers State cannot sell it's oil to NNPC ?

So gold is an internal potential while oil is a National potential ?
Re: Zamfara, CBN Enter Into N5bn Gold Deal by Cjrane2: 12:24am On Oct 07, 2020
NwaNimo1:
Gov. Bello Matawalle of Zamfara says that his administration has entered into a N5 billion gold supply deal with the Central Bank of Nigeria (CBN).

The governor made the disclosure on Tuesday in Gusau, at a press conference to present the 31-kilogramme Zamfara processed gold.

He said that the state government would, at an agreed time during the year, supply the gold equivalent of the amount.

“Following the global acceptance of the high quality of the gold dug from the state, the apex bank approached us with the deal, which we believe is a good business.

“At the moment, we have commenced our gold reserve with this 31 kilogramme of pure gold and I have presented the sample of the commodity to the president.

“This is the first of time, in the history of our country, that a state will discover its internal potential in gold and channel it in developing the economy of the state,” Matawalle noted. shocked

He said that the state’s gold reserve would be deposited in an undisclosed designated place, which could be utilised in times of need.

“We have to diversify our state economy, especially with the bitter economic experience we went through as a result of the COVID-19 pandemic, collapse in oil prices and other economic uncertainties cutting across the globe.

“In gold however, we expect better and higher returns than in other stocks because there is higher multiplier effect in gold and it will enhance the gains of our local miners towards the attainment of the Zamfara of our dream,” he said.

The News Agency of Nigeria (NAN) reports that the governor did not state the current market price of gold so as to know how much it would cost the state government to buy the 31 kilogramme.

He, however, referred to google for the price, which he explained, changed on an hourly basis, sometimes. (NAN)

But if its Niger Delta resources, the Federal Government will jus annex it and reluctantly pay 13% of the reduce quantity they claim to have sold.
Re: Zamfara, CBN Enter Into N5bn Gold Deal by DenreleDave(m): 3:28am On Oct 07, 2020
Nawa ooo..

Niger delta nko
Re: Zamfara, CBN Enter Into N5bn Gold Deal by QuotaSystem: 5:07am On Oct 07, 2020
Kudos to the visionary government.
Re: Zamfara, CBN Enter Into N5bn Gold Deal by Cjrane2: 3:43pm On Oct 07, 2020
DenreleDave:
Nawa ooo..

Niger delta nko
grin grin grin
Re: Zamfara, CBN Enter Into N5bn Gold Deal by Babanah: 3:46pm On Oct 07, 2020
NwaNimo1:
Gov. Bello Matawalle of Zamfara says that his administration has entered into a N5 billion gold supply deal with the Central Bank of Nigeria (CBN).

The governor made the disclosure on Tuesday in Gusau, at a press conference to present the 31-kilogramme Zamfara processed gold.

He said that the state government would, at an agreed time during the year, supply the gold equivalent of the amount.

“Following the global acceptance of the high quality of the gold dug from the state, the apex bank approached us with the deal, which we believe is a good business.

“At the moment, we have commenced our gold reserve with this 31 kilogramme of pure gold and I have presented the sample of the commodity to the president.

“This is the first of time, in the history of our country, that a state will discover its internal potential in gold and channel it in developing the economy of the state,” Matawalle noted. shocked

He said that the state’s gold reserve would be deposited in an undisclosed designated place, which could be utilised in times of need.

“We have to diversify our state economy, especially with the bitter economic experience we went through as a result of the COVID-19 pandemic, collapse in oil prices and other economic uncertainties cutting across the globe.

“In gold however, we expect better and higher returns than in other stocks because there is higher multiplier effect in gold and it will enhance the gains of our local miners towards the attainment of the Zamfara of our dream,” he said.

The News Agency of Nigeria (NAN) reports that the governor did not state the current market price of gold so as to know how much it would cost the state government to buy the 31 kilogramme.

He, however, referred to google for the price, which he explained, changed on an hourly basis, sometimes. (NAN)

How can Someone be talking about ‘returns’ on gold?
Re: Zamfara, CBN Enter Into N5bn Gold Deal by Dande55: 3:48pm On Oct 07, 2020
One nizooria. Gold in Zamfara belongs to zamfara, oil in Niger Delta belongs to Nizooria

1 Like

Re: Zamfara, CBN Enter Into N5bn Gold Deal by Biodun556(m): 3:56pm On Oct 07, 2020
FarahAideed:
So Zamfara state govt can sell gold to CBN but Rivers State cannot sell it's oil to NNPC ?

So gold is an internal potential while oil is a National potential ?

Northing stops the states from exploring their mineral resources but must do so as registered company.
Re: Zamfara, CBN Enter Into N5bn Gold Deal by FarahAideed: 4:01pm On Oct 07, 2020
Biodun556:


Northing stops the states from exploring their mineral resources but must do so as registered company.

The allocation of oil blocs and acreage is only done by the Federal govt and this is not the case with Zamfara because Zamfara has already claimed ownership of it's gold for over a decade now selling billions in the black market and not declaring at the centre so it can be shared by all
Re: Zamfara, CBN Enter Into N5bn Gold Deal by BrownLondon(m): 4:30pm On Oct 07, 2020
wailers are wailing already.
Re: Zamfara, CBN Enter Into N5bn Gold Deal by NwaNimo1(m): 8:21pm On Oct 07, 2020
Biodun556:


Northing stops the states from exploring their mineral resources but must do so as registered company.

Zamfara State LTD?
Re: Zamfara, CBN Enter Into N5bn Gold Deal by Biodun556(m): 8:27pm On Oct 07, 2020
NwaNimo1:


Zamfara State LTD?

Eg kwara holdings,

IBILE holdings own by Lagos State Government

OPIC own by Ogun State Government

etc
Re: Zamfara, CBN Enter Into N5bn Gold Deal by BigSarah(f): 8:28pm On Oct 07, 2020
Our Gold!!!...Eh just kidding , all fingers not equal..the strong must rule over the weak

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