Dukia Gold & Precious Metals Refining Company Limited would soon begin trading fully refined London Bullion Market Association (LBMA) investment grade gold bullion bars, its derivatives and related products on the Lagos Commodities & Futures Exchange (LCFE).
This was disclosed at a virtual seminar organised by the licensed precious metals mining & refining company and bullion merchant in conjunction with LCFE and the Federal Ministry of Mines and Steel Development.
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The Managing Director of Dukia Gold & Precious Metals Refining Company Ltd, Ms Bose Owolabi, said the seminar was one of the many initiatives along with other partners conducted ahead of the introduction of the Dukia Gold Exchange Traded Certificate (DGETC).
Speaking, Managing Director of LCFE, Mr Akin Akeredolu-Ale, stated that the build up to the virtual seminar on investing in gold started in 2019 noting that both LCFE and Dukia Gold seek how how Nigerians can invest and trade in responsibly sourced gold on a structured and regulated platform such as the LCFE.
Minister of Mines & Steel Development, Arc. Olamilekan Adegbite, said gold investments are said to be a unique, time-tested wealth preservation instrument, thus creating a vehicle for Nigerians to build and preserve wealth over the long term.
He noted that gold bars and their derivatives are unlike jewellery, ornaments or raw gold because they are Investment-grade Precious Metals (IPM), which are essentially financial assets that are actively traded, similar to financial instruments such as stocks and bonds.
The investing public was urged to look forward to the formal launching of the Dukia Gold Exchange Traded Certificates, a gold-backed product exchange traded spot gold that will soon be presented and traded on the floor of LCFE.
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