The Director General of the Securities and Exchange Commission, (SEC), Mr. Lamido Yuguda has announced that Dukia Gold is only SEC approved and designated legal entity for gold refining, bullion merchant and vaulting service provider in Nigeria for gold physical delivery on the capital market through the Lagos Commodities and Future Exchange (LCFE).
Yuguda made this statement at the BusinessDay Breakfast Meeting on Creating Enabling Environment for Investment Precious Metals (IPMs) in Nigeria organized and co-sponsored by Dukia Gold and the Lagos Commodities and Futures Exchange (LCFE).
He explained that all physical aggregation of gold bars for sale through the Nigerian Capital Market, the designated gold commodity exchange, which is the LCFE, can only be done through Dukia Gold.
Dukia Gold welcomes this pioneer status and unique opportunity to bring gold as an IPM into the Nigerian capital market through a SEC regulated and licensed commodities exchange the LCFE.
Also speaking, the Managing Director of the Lagos Commodities and Futures Exchange (LCFE), Mr Akeredolu Ale said he was excited to
announce that the first consignment of physical gold traded spot through 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, the Dukia Gold Exchange Traded Certificate (DGETC) issued by Dukia Gold is a tradeable certificate backed by one-kilogram LBMA Standard IPM – Gold Bar with fineness of 999.9 to be traded on the LCFE.
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 Precious Metals in Nigeria as this will potentially drive growth and boost the economy.
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.