In News by Oluwaseun Samuel on the 16th, October, 2020

Omo-Agege Offended After Zamfara Governor Offered Gold Bar to CBN for N5 Billion

Omo-Agege Angry After Zamfara Governor Sold Gold Bar to CBN for N5 Billion




The Deputy Senate President Ovie Omo-Agege has accused the Central Financial institution of Nigeria of partaking in an unconstitutional transaction on Wedneday after Zamfara state offered a bar of gold to the nation’s apex financial institution.


It was gathered that the gold was offered to the CBN for N5 billion.


Deputy Senate President Ovie Omo-Agege and Ijaw youths kicked towards the association that permits a state to promote mineral useful resource to the Federal Authorities, which in accordance with them, is the constitutionally proprietor.


Omo-Agege described the sale as a breach of the legal guidelines guiding exploitation of mineral assets within the nation. The youths, below the Ijaw Youths Council (IYC), accused the Federal Authorities of double commonplace and injustice.


The Deputy Senate President faults the association whereas contributing to a debate on the 2021 Appropriations Invoice at yesterday’s Senate plenary.


He advised his colleagues that his constituents and different Niger Deltan individuals had been fearful in regards to the growth since all proceeds from oil of their territory solely go to the Federation Account.


The senator insisted that the proceeds from the sale  should be remitted to the federation account and never credited to the account of the Zamfara State authorities.


Omo-Agege mentioned: “There’s additionally one thing that’s troubling our individuals which I feel I must also carry up right here.

“It’s clear that the one two sources recognized within the price range for the funding of the price range is the income from oil on probably the most half and borrowings, each native and overseas.

“However, we additionally produce other sources or potential sources of income that isn’t being checked out.

“We frequently discuss of leakages (within the system) however why even go into leakages after we can go on to the strong mineral sector?

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“Not too way back, we noticed the Governor of Zamfara State come earlier than the CBN to current a gold bar value near about N5 billion.

“The gold bar was offered on the market to the CBN. Our persons are starting to surprise who owns this gold that’s being offered to the CBN.

“They don’t promote oil in any of the Niger Delta states. I’m questioning why a governor of a state ought to be promoting gold bar from Zamfara to the CBN.

“There are two issues with that. We imagine that no matter income that ought to return from that transaction belong to your complete nation and never belonging to the state authorities.

“That’s primary and we should always truly look into that. That’s an space we actually have to develop.

“There’s quite a lot of income that might come from there that may take the burden from this worldwide borrowing.”


In Port Harcourt, the IYC accused the Federal Authorities of injustice by permitting artisanal mining of gold within the North, particularly in Zamafara State, and forbidding the same follow on crude oil within the Niger Delta.


In an announcement, IYC President Timothy Igbifa noticed that within the North the place there are gold and valuable stones, the locals and indigenes had been mining them unmolested to counterpoint themselves.


The assertion reads partially: “However it’s unlawful within the Niger Delta to have interaction in artisanal exploration of the huge hydrocarbon deposits of their space. In case you say, it’s double commonplace, making use of two completely different algorithm in the identical nation, it’s an understatement.

“It’s the top of injustice that the individuals of Niger Delta have been compelled to dwell with since 1914. A number of makes an attempt have been made to re-negotiate our steady existence has an indivisible entity however to no avail.”


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