August 12, 2022

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Dukia Gold solely authorized authorized entity for gold refining – SEC


The Director Common of the Securities and Alternate Fee, (SEC), Mr. Lamido Yuguda has introduced that Dukia Gold is simply SEC authorized and designated authorized entity for gold refining, bullion service provider and vaulting service supplier in Nigeria for gold bodily supply on the capital market by way of the Lagos Commodities and Future Alternate (LCFE).

Yuguda made this assertion on the BusinessDay Breakfast Assembly on Creating Enabling Setting for Funding Treasured Metals (IPMs) in Nigeria organized and co-sponsored by Dukia Gold and the Lagos Commodities and Futures Alternate (LCFE).
He defined that every one bodily aggregation of gold bars on the market by way of the Nigerian Capital Market, the designated gold commodity trade, which is the LCFE, can solely be achieved by way of Dukia Gold.

Dukia Gold welcomes this pioneer standing and distinctive alternative to deliver gold as an IPM into the Nigerian capital market by way of a SEC regulated and licensed commodities trade the LCFE.

Additionally talking, the Managing Director of the Lagos Commodities and Futures Alternate (LCFE), Mr Akeredolu Ale mentioned he was excited to

announce that the primary consignment of bodily gold traded spot by way of a SEC authorized gold instrument Dukia Gold Alternate Traded Certificates is to be listed and traded on the Alternate.

He defined that the gold instrument, the Dukia Gold Alternate Traded Certificates (DGETC) issued by Dukia Gold is a tradeable certificates backed by one-kilogram LBMA Normal IPM – Gold Bar with fineness of 999.9 to be traded on the LCFE.

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Akeredolu mentioned the LCFE, being a regulated trade by the SEC provides buyers a structured market to simply commerce in gold and different IPMs, particularly the DGETC gold instrument which is an digital certificates (instrument) obtainable for commerce within the major and secondary market of the Alternate.

The Managing Director of Dukia Gold, Mrs Bose Owolabi inspired the investing public to key into the DGETC, a 1kg bodily gold funding alternative that Dukia Gold has launched into the Nigerian Capital Market. She mentioned Gold has over time confirmed to be a hedge in opposition to financial uncertainties and inflation, a portfolio diversifier, and a retailer of wealth.

The Chairman of Dukia Gold, Mr Tunde Fagbemi recommended the Ministry of Mines and Metal Improvement (MMSD), the SEC, the LCFE and different stakeholders for creating an enabling surroundings for Funding Treasured Metals in Nigeria as it will doubtlessly drive development and increase the economic system.

The administration of Dukia Gold needs to tell the investing public that they will now categorical curiosity within the bodily gold traded spot through the Dukia Gold Alternate Traded Certificates (DGETC) by finishing a web-based type.