Alake, UAE Envoy Meet To End Illegal Gold Smuggling

Dele Lake, Nigeria’s Minister of  Solid Minerals Development, Dele Alake, says the federal government is working with the United Arab Emirates, UAE on how to end gold smuggling from Nigeria.

Alake said most of the gold illegally mined from Nigeria are smuggled into UAE.

According to checks, about $9 billion worth of mineral resources, including gold are smuggled out of the country annually by illegal miners.

This has resulted in huge loss of badly needed revenue to the government, analysts insist.

According to Alake, the Nigerian government and the UAE are now collaborating to establish a framework to curb illegal gold trade between the two countries.

Other possible areas of cooperation between the Nigeria and AU are commerce and trade, the minister said.

Alake who spoke in Abuja during a meeting with the UAE Ambassador to Nigeria, Salem Al Shamsi, said the collaboration on how to use cutting edge technology to resolve problems in Nigeria’s mining sector.

In a statement issued by Segun Tomori the minister’s Senior Special Assistant on Media, the minister said the collaboration will further strengthen ties between Nigeria and UAE, particularly, technology transfer in the solid miniral sector.

On his part, the UAE ambassador said his country recently lifting of visa sanction on Nigeria will further “advance relations” between the two countries.

Alake: “In the mining sector, we see significant opportunities for collaboration. While there is considerable trade in gold, much of it remains illegal, with a large portion of Nigerian gold ending up in the UAE unlawfully.

“We propose working together to develop strategies to curb illegal gold trade and establish a regulatory framework that legitimises this trade, allowing both countries to maximise their benefits.”

Al Shamsi said, “The lifting of visa application restrictions and the launch of a new visa application website demonstrate my country’s dedication to advancing bilateral relations.”