General

Illegal export of gemstones is worth $3b annually – Minister

Consequently, in past years, the gemstone sector had largely been a vehicle for money laundering, with the average dollar value of Nigerian gems exported put at over $3 billion annually. The local mining industry for gems remained at its primitive level of shovel and digger and Nigeria’s vast untapped gemstone resource was not being optimally exploited for the benefit of Nigerians,” the minister said.

 

 

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