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“Annually, Nigeria Loses Billions: Femi Falana Exposes $9B Worth of Illegally Extracted Gold”

August 18, 2023






Human rights lawyer Femi Falana has shed light on a distressing issue plaguing Nigeria: the illicit extraction of gold worth a staggering $9 billion each year. Falana’s recent account includes the tragic tale of a displaced farmer, who was forced off his land and offered a mere ₦150,000 in compensation. Despite his resolve to seek justice through legal means, the farmer’s journey was an uphill battle.

“We took the matter to court,” explains Falana, “and after due deliberation, the judge awarded a sum of 250 million naira as compensation.” However, the story takes a disheartening twist as Falana reveals a shocking revelation post-trial. “Regrettably, after the legal battle, it came to light that the company responsible for the farmer’s displacement would rake in a staggering 500 million dollars in profits over the course of just five years.”

This exposé by Femi Falana underscores the need for greater transparency, accountability, and stricter regulations in Nigeria’s natural resource sector. The staggering loss of resources and livelihoods calls for urgent action to prevent further exploitation and ensure a just outcome for those affected.

Watch the interview below:

Source: Channels TV/Twitter

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