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 a 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.

“The fact is that the CBN, just like in Agriculture, is willing to invest in mining as part of anchor-borrowers scheme where the apex Bank will invest the said amount for the state Government to supply it with the 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,” it said.

According to the statement titled, “A CASE OF MISCONCEPTION OF FACTS OF LAW BY A LAWYER” Zamfara Government lamented that educated Nigerians would be pedalling such misinformation.

“The attention of Zamfara State Government has been drawn to a shocking and disappointing reaction in the media where a known Lawyer displayed ignorance of law regarding the recent revelation made by His Excellency, Governor Bello Mohammed (Matawallen Maradun) over mining in the state.

“The Lawyer, Mr Joseph Onu Silas, accused the Central Bank of Nigeria of violating its constitutional boundaries to “trade” in Gold with the Zamfara State Government,” it said.

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

“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 which Mr Silas mentioned,” it clarified.

It further said that 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,” it concluded.