The Federal Government of Nigeria, on Thursday, bought a 12.5kg gold bar for the sum of 268.6 million naira.
The 12.5kg gold bar is Nigeria’s first artisanally-mined gold processed and refined according to LBMA standards.
This was disclosed by the special assistant to President Muhammadu Buhari on new media, Bashir Ahmad.
Ahmad stated that the gold bar was bought during the launching of the Presidential Artisanal Gold Mining Development Initiative, PAGMI on Thursday.
He wrote, "Today at the official launch of PAGMI, the Central Bank of Nigeria paid a total sum of N268.6 million to purchase a 12.5kg gold bar, the Nigeria’s first artisanally-mined gold processed and refined according to LBMA standards. The gold now belongs to our external reserves."