The Zamfara state government has been cautioned and warned by the federal government to desist from making impressions of owning gold deposits in the state.
This warning was issued by the minister of mines and steel development, Olamilekan Adegbite on Friday.
Olamilekan said mineral products remain exclusively that of the federal government.
Recall that on Tuesday, Zamfara state government disclosed that it has started its gold reserve to reduce dependence on federal allocations.
Addressing newsmen, the finance commissioner of the state, Rabiu Garba said though, there was a federal government ban on mining activities in the country, “the state government was able to purchase the commodity from licensed miners”.
“From their own fund, they are buying gold from their people and I spoke with the governor, you need to explain these to the people properly. It’s not as if they are cornering the resources that belongs to the federal government.
“All mineral resources in country is vested in the federal government and that is in the exclusive list and that stays. And the right royalty should be paid to the federal government.
He also said the CBN did not enter into any trade agreement with the state government as claimed by the lawyer.
“The fact is that the CBN, just like in agriculture, is willing to invest in mining, as part of its Anchor Borrowers’ Programme whereby the apex bank will invest an amount for the state government to supply it with the gold as proceeds of the investment,” he said.
“This is aimed at boosting the mining sector in the country which is within the provisions of the scheme.”