Shinkafi Demands Explanation On Zamfara Gold Reserve Initiative

A former national secretary of the All Progressives Grand Alliance (APGA) and Zamfara North APC senatorial aspirant, Sani Abdullahi Shinkafi, has called on former Zamfara State governor and current minister of State Defence, Bello Matawalle, to provide a detailed account of the controversial Zamfara State Gold Reserve Initiative launched during his administration.

Shinkafi, in a statement he issued yesterday under the auspices of the Patriots for the Advancement of Peace and Social Development, questioned the status of the gold reserve scheme that was unveiled by Matawalle in October 2020 and presented to the late former President Muhammadu Buhari at the Presidential Villa in Abuja.

He said Matawalle presented 31 kilogrammes of gold and precious stones to Buhari, claiming that the state government had procured them as part of a strategic reserve initiative to strengthen the state’s financial base.

Shinkafi said it remains unclear what became of the gold reserve programme after Matawalle left office in May 2023, noting that there had been little public information regarding the quantity of gold acquired under the initiative or whether the assets were transferred to the administration Governor Dauda Lawal.

He demanded answers to several questions, including the total quantity of gold purchased between 2020 and 2023, the amount handed over to the current administration, the monetary value of the assets, and whether such assets were documented in the official handover notes and transition committee report.

The group also called on the Zamfara State Government to publicly release the handover notes and transition committee report relating to the initiative within 14 days.”

“Failure to publish these documents in national newspapers within the stipulated period will leave us with no option but to petition relevant anti-corruption and security agencies, including the EFCC, ICPC, NFIU and the Office of the National Security Adviser, for a comprehensive investigation,” the statement said.

Shinkafi further questioned how the Matawalle administration had engaged local miners and procured gold during a period when the Federal Government had suspended mining activities in Zamfara State due to insecurity.

The Federal Government imposed a ban on mining activities in Zamfara in 2019 as part of efforts to curb banditry and illegal mining, a restriction that remained in place until 2025.

The statement recalled that Matawalle had informed State House correspondents after he met with Buhari that some foreigners were allegedly exchanging arms for gold and precious stones in Zamfara, and had urged the Federal Government to investigate the matter.

Shinkafi also sought clarification on the identities of the miners and companies involved in supplying the gold, the certificates of origin and ownership of the refined gold, the financial institutions where the reserve may have been kept, and the legal framework under which the transactions were conducted.

According to him, the current market value of the 31 kilograms of gold presented to Buhari in 2020 is estimated at nearly ₦6 billion.

The statement further referenced opposition that greeted the initiative at the time, particularly from some governors of oil-producing states who argued that natural resources fall under federal control. It also cited comments by former Minister of Mines and Steel Development, Olamilekan Adegbite, who maintained that mineral resources belong to the Federal Government under the Constitution and that revenues derived from them should be paid into the Federation Account.

Shinkafi insisted that citizens have a constitutional responsibility to hold public office holders accountable and said transparency regarding the gold reserve initiative is necessary to strengthen public trust and democratic governance.

He pledged that the Patriots for the Advancement of Peace and Social Development would continue to pursue accountability in public office and ensure that questions surrounding the Zamfara Gold Reserve Initiative are fully addressed.