Adegbite in a statement by his Special Assistant on Media, Ayodeji Adeyemi, said the decision had become necessary due to the nefarious activities of smugglers at the borders, which was affecting the economy negatively.
He said: We are aware of several instances in which illegally mined gold and other precious gemstones are smuggled through our land borders to neighbouring countries, where they are flown on private jets to countries in Asia and the Middle East and sold at their market value.
The country is being deprived of the actual royalties that should necessarily accrue to it due to these nefarious activities. No government can sit still and watch as revenues that should accrue to it legally are being lost to agents outside the countries who do not wish us well.
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