NEITI: solid minerals exported without permits


An independent audit of the operational processes and financial payments to Nigeria from companies that mine her solid mineral resources has shown that more of the country minerals were exported from her shores without legal permits.

The report explained that while it is statutory that companies obtain regularly permits from the country ministry of trade before they can export her solid minerals, most of the companies that engage in the export trade have overtime sidestepped this requirement, thus costing the country revenues in export duties amongst others.

It also revealed that the country Mines Inspectorate Department (MID) cannot accurately account for how much solid minerals were mined and taken out of the country at any period, saying that the MID mostly provided inaccurate production data when requested. These data according to the report for the sector operations in 2013 have often conflicted with what producers provided.

- Advertisement -First Bank mobile money