September 27, 2022

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SEC Endorses Dukia Gold Sole Dealer, Refiner, Trader In Gold As Precious Metal

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Dr Lamido Yuguda, Director General, Securities and Exchange Commission, SEC

The Securities and Exchange Commission, SEC, has endorsed Dukia Gold, as the only bonafide and designated legal entity for gold refining, bullion merchant (public trading of gold as an Investment Precious Metal IPM) and vaulting services provider in Nigeria for physical gold delivery on the capital market through the Lagos Commodities and Futures Exchange, LCFE.

Dr Lamido Yuguda, Director General, DG, of the Securities and Exchange Commission, Nigeria (SEC), gave the public endorsement while speaking at the BusinessDay Breakfast Meeting held in Abuja with the theme, “Creating Enabling Environment for Investment in Precious Metals (IPsMs) in Nigeria.”

The Nigerian SEC helmsman further explained that “all physical aggregation of gold bars for sale through the Nigerian Capital Market i.e., the designated gold commodity exchange, which is the LCFE, can only be done through Dukia Gold”.

Mr Tunde Fagbemi, FCA, Chairman, Dukia Gold

Also speaking at the event, Mr Akeredolu Ale, Managing Director, Lagos Commodities and Futures Exchange (LCFE), said he was excited to announce that the first consignment of physical gold traded spot via a SEC-approved gold instrument (Dukia Gold Exchange Traded Certificate) is to be listed and traded on the Exchange.

He explained that the gold instrument i.e., Dukia Gold Exchange Traded Certificate (DGETC) issued by Dukia Gold is a tradeable certificate backed by one-kilogram LBMA Standard IPM – Gold Bar with a fineness of 999.9 to be traded on the LCFE.

Mr Akeredolu said the LCFE, being a regulated exchange by the SEC offers investors a structured market to easily trade in gold and other IPMs, especially the DGETC gold instrument which is an electronic certificate (instrument) available for trade in the primary and secondary market of the Exchange.

The Managing Director of Dukia Gold, Mrs Bose Owolabi, encouraged the investing public to key into the DGETC (a 1kg physical gold investment opportunity) that Dukia Gold has introduced into the Nigerian Capital Market.

She said Gold has over time proven to be a hedge against economic uncertainties and inflation, a portfolio diversifier, and a store of wealth.

The Chairman of Dukia Gold, Mr Tunde Fagbemi, commended the Ministry of Mines and Steel Development (MMSD), the SEC, the LCFE and other stakeholders for creating an enabling environment for Investment in Precious Metals in Nigeria as this will potentially drive growth and boost the economy.

Moreover, the management of Dukia Gold wishes to inform the investing public that they can now express interest in the physical gold traded spot via the Dukia Gold Exchange Traded Certificate (DGETC) by completing an online form available at https://bit.ly/3ck7a15.

For enquiries, please call +234 807 341 7293 or send an email to info@dukiagoldrefinery.co. Please follow us on all our social media pages and visit our website on www.dukiagoldrefinery.co for more information. www.dukiagoldrefinery.co

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