Addis Abeba – The Benishangul Gumuz regional state said it will take legal actions against booming illicit gold trade in the region which is causing a notable decrease in the region’s gold supply to the central bank.
According to the regional communication bureau’s report the number of individuals, groups and associations engaged in illegally trading gold at a higher price than the central bank’s rate is increasing from time to time.
During a visit to Menge district, one of the places from where gold is extracted in the region on Sunday, president of the region Ashadli Hasan, threatened to take strict legal actions against individuals, associations, producers who hide, illegally buy or sell gold, the report added.
In November last year, the regional government issued a directive to all gold mining companies, Small Enterprises and associations to sell their gold products only to National Bank of Ethiopia (NBE) aiming to control illegal gold trafficking and contribute in stabilizing the country’s economy. AS