268 MILLION TO START NIGERIA'S FIRST OWN GOLD MINING

-

Nigeria has for the first time refined its own gold and purchased the refined product into a new gold reserve.

On Thursday, the Central Bank of Nigeria (CBN) presented a cheque of N268 million for the country’s first artisanally-mined and refined gold.


The cheque was presented to the Presidential Artisanal Gold Mining Development Initiative (PAGMDI) on Thursday at the launch of the gold purchase programme in Abuja.

The 12.5kg gold bar was processed and refined according to the London Bullion Market Association (LBMA) standards required for the use of gold as a reserve instrument by the CBN, officials said.

President Muhammadu Buhari launched the PAGMDI, a comprehensive artisanal and small-scale gold mining development programme in 2019.


The initiative is to foster the formalisation and integration of artisanal gold mining activities into Nigeria’s legal, economic, and institutional framework.

Speaking at the launch, the Governor of the CBN, Godwin Emefiele, said the development is a step toward the actualisation of economic diversification in Nigeria.

He said Nigeria will no longer be analysed through the price of crude oil as gold is also valued in the international market in dollars.

Comments

Post a Comment

Thank you for comment, please continue to read up our stories

Popular posts from this blog

Burna Boy’s new album ''Twice as Tall'' records 5million streams in one hour

-
Image
  Burna Boy’s much-awaited new work, Twice as Tall, was released Friday morning and it was an instant hit. It recorded five million streams within an hour of its release. It was also generating rave reviews. The song on the album takes stock of his accomplishments, vulnerabilities, and how he encourages ambition and perseverance against long odds. He also lashes out at racism, exploitation and widespread misconceptions about Africa. The songs on “Twice as Tall” hold echoes of Nigeria, South Africa, Jamaica and the United States. The momentum is crisp and nonstop as the songs draw on — among many other things — Zulu choir singing, electronic dance music, alt-R&B and the patterns of West African marimbas and Zimbabwean thumb pianos. “Twice As Tall” see features from Senegalese artist  Youssou N’Dour , O.G. trio  Naughty By Nature , Kenyan afro-pop band  Sauti Sol , Coldplay’s  Chris Martin  and U.K. rapper  Stormzy . The effort rounds out 15 songs an...
Read more

Patoranking Drops Cover Art For New Album, 'Three'

-
Image
  Nigerian dancehall star  Patoranking has dropped the cover art for his upcoming album,  Three.  The artist, who recently dropped a single from the album Abule, released the album cover via his social media where he also announced that Abule, as great as it sounds, is just the intro of the album. The album will be released on the 28th of August He said; "28th August Album drops ... Abule Was just an Intro #Threethealbum" View this post on Instagram 28th August Album drops 🤐 Abule Was just an Intro #Threethealbum A post shared by Patoranking (@patorankingfire) on Aug 11, 2020 at 7:21am PDT
Read more

Faze – Enemy Best Friend

-
Image
Faze Comes through with a new music titled “Enemy Best Friend” . “Na Who Know You Go Kill You” – It’s been awhile we heard from Faze from the Plantashun Boyz. He resurfaces with a new song and visual titled “Enemy Best Friend” Faze has always been the one to drop conscious song, the new song Enemy Best Friend takes about enemy that disguise as friends just to take advantages of you and only those that know you can kill you. The sound and delivery is nostalgic, Faze takes us back to his old days. Watch and enjoy; DOWNLOAD MP3 WATCH VIDEO HERE
Read more

SUCCESS AND HER PARENTS ARE UNGRATEFUL - NIGERIAN COMEDIAN, MR JOLLOF SAYS

-
Image
Nigerian comedian and social commentator Freedom Okpetoritse Atsepoyi, aka Mr. Jollof says Success and her parents are ungrateful Success Adegor, the little girl whose video "dem go flog me dem go tire" went viral revealed that all the promises made to her by several public figures were not fulfilled. In the video that went viral, Success was explaining how she was sent out of school due to unpain tuition fees. she was heard saying "dem go flog flog, dem go tire" After the video went viral, so many public figures made open promises and pledges to help the school girl who her will to go to school was felt by all that saw the video  One year after the video went viral, Success has debunked claims that her family became rich after the incident. According to her, all the promises were mere promises as virtually all were not fulfilled Full video: ”All the money wey dem promise me, everything na fake, my daddy still dey ride okada" - Success the viral Warri school gi...
Read more

Jigawa chapter of NBA threatens to boycott association's AGM if the decision to withdraw El-Rufai’s invitation is not reversed

-
Image
  The Jigawa state chapter of the Nigerian Bar Association (NBA) has threatened to boycott the 2020 Annual General Meeting of the bar if the decision to withdraw the invitation of Kaduna state governor, Nasir el-Rufai, is not reversed.   The NBA on Thursday, August 20, announced the withdrawal of Governor el-Rufai's invitation, following a protest by some lawyers who argued that the governor is well known for 'human rights abuse,' and therefore shouldn't be invited to their meeting.   In a statement released, the chairman of NBA in Jigawa state, Abubakar Garba, argued that the governor has not been given a fair hearing to defend himself from the allegations of human rights abuses some members of the profession leveled against him. The state chapter argues that if Governor Nyesom Wike, who has been accused of human rights abuses, can be invited, then they see no reason why Governor el-Rufai should be denied an invitation.   Read the statement below   ...
Read more

Adekunle Gold Releases His Highly Anticipated Album ‘Afro Pop Vol. 1’

-
Image
  Talented singer and Popular songwriter, Adekunle Gold has released his highly anticipated third studio album dubbed Afro-Pop Volume 1. The album comes packed with 10 tracks. Released under EMI with licensing from Universal Music Operations Limited. The 33-year-old had earlier released some tracks as lead singles like AG Baby featuring Nailah Blackman. Talented singer and Popular songwriter, Adekunle Gold has released his highly anticipated third studio album dubbed Afro-Pop Volume 1. The album comes packed with 10 tracks. Released under EMI with licensing from Universal Music Operations Limited. The 33-year-old had earlier released some tracks as lead singles like AG Baby featuring Nailah Blackman. Taking to his Social media pages, he announced the release. He wrote: View this post on Instagram Afro Pop Vol. 1 out now. Welcome to freedom! Link in bio ❤️ A post shared by AG BABY IS YOUR BABY (@adekunlegold) on Aug 20, 2020 at 4:26 see music here: Adekunle Go...
Read more

(ALBUM UPDATE) BUGZY DVINCI @BUGZYDVINCI - TELL BILLBOARD I'M COMING

-
Image
"Tell Billboard I’m Coming” released in late May 2020 is a fusion of Trap energy, lyrical masterpiece and melodic embrace that unveils the artiste’s never before experienced genius. The tracklist spans across a deliberate re-introduction, a slice of romanticism and the swagger of hustler; a strong flair that emboldens the album's title.   The Album has been successfully recieved globally and its making more waves internationally than locally in Nigeria, with over 50,000 streams on Spotify alone and a total of over 130,000 streams in all platforms, this album proves to be one of the finest Trap album of 2020. The Album came with some Merch and also in support of the Trap Lifestyle & the Black Lives Matter movement going on in the world Website:  https://www. bugzydvinci.com/   Bugzy Dvinci  Musician/Writer/Actor Head Of Programmes At  Baylesa Book & Craft Event DOWNLOAD MP3
Read more

"I know I will come out of this victorious" Adeherself releases statement after being released from EFCC custody

-
Image
Adedamola Adewale, popularly known as Adeherself, has released a statement after being released on bail from EFCC custody.   The popular social media influencer was arrested for internet fraud weeks ago and arraigned before Justice Sherifat Solebo of the Special Offences Court in Ikeja, Lagos on a one-count charge of possession of fraudulent documents.   The 20-year-old skit maker was released last week and she has now released a statement on Instagram.  If there's one thing I've learnt in life, it's to never give up no matter how hard things may get in life.... I Am Adeherself, yes I'm cheerful, happy, playful, energetic and free spirited, I wunt deny the fact that right now I'm in pains and presently going through a phase I never imagined I could ever face in life. I know I will come out of this victorious, and by the special grace of God with the help of my counselor, I'll be Adeherself the real King of Queens once again. To all my lovers out there, I'm s...
Read more

Nigerian-trained US-based doctor threatens Facebook for taking down her posts after she said on national TV that she has cured COVID-19 patients with hydroxychloroquine

-
Image
Nigerian-trained US-based medical doctor who went viral when she said she has cured hundreds of Covid-19 patients with hydroxychloroquine, has threatened Facebook for taking down her page following her viral interview.   Dr Stella Immanuel spoke out during a press conference at Washington. She stated that the antimalarial drug, hydroxychloroquine, zinc, and antibacterial drug, Zithromax were effective in the treatment of Coronavirus. She went on to accuse her colleagues, public figures, and pharmaceutical companies of cover-up (read  here ).   In another video, she challenged CNN host Chris Cuomo and physician Anthony Fauci. She asked Cuomo, who survived COVID-19, to give his urine sample so that she can test it to prove that he was treated with hydroxycloroquine.   Her speech divided viewers as some took her side while others slammed her for making such claims when scientists have stated otherwise.   A number of Nigerians went as far as digging up her old relig...
Read more

Nigerians react after Erica and Kiddwaya seemed to be having sex (Video)

-
Image
Nigerians have stormed various social media platforms to react to the scene where Erica and Kiddwaya were captured, apparently having sex. The lovemaking scene has stirred reactions from fans who took to their Twitter page expressing disappointment at Erica for losing her self control on national TV. Some fans of the reality TV show although argued that there might be no form of penetration as there is every possibility the man was only touching her erogenous spots with his hands. Here are some comments gathered by from Twitter: @Letherana “ Only two weeks o, Erica has opened her legs. No self-control.” @JOworen “That’s why I prefer Nengi…..’class’ and not ‘pride’ Come on, she can’t be this cheap. Erica has lost the respect.” @JimohO “Erica does not think at all, if a man truly loves you he will not even think of doing this to you in that house.” @Lulu33_Zs “Erica and Kidd are both adults and what they did was with consent no one should come drag them , we here for it.” @Wavefro ”S...
Read more