The Kano Commodity and Exchange Market in Gezawa, established by the Accountant General of the Federation, Ahmad Idris, is to commence full operation with stockbroker activities in the first quarter of 2021.
Speaking while receiving the Kano Concerned Citizens Initiatives headed by a former presidential candidate of the defunct National Republican Convention, Alhaji Bashir Tofa, the AGF said the market had already secured a licence for a Gallery for Stock Brokers and Operators.
He explained that the market was connected with Wi-Fi and was adequately integrating Information Technology in its operations, while Nigeria Customs Service, the National Drug Law Enforcement Agency, the Nigeria Import and Export Commission have monitoring desks in the market.
He said the market is to enjoy the status of a full Inland Dry Port vital organisations having offices there.
Idris said over 2,500 persons would be employed as workers at the market, adding that already, over 500 persons including women and youths worked there.
In his remarks, Chairman of KCCI, Tofa admitted that laxity and ignorance had left the North in extreme poverty.
He lamented that social vices, drug addiction, thuggery and banditry had now ravaged the North, while vast farming lands were left idle.
Gezawa Commodity Market Ltd is a Registered Company in Nigeria operating in Gezawa LGA in Kano State, Nigeria. The market is located 24 km away from Kano city and equipped with state-of-the-art infrastructure to support efficient transaction and delivery of agricultural commodities.
It is a private sector-led initiative and is the first of its kind in Nigeria. The market is positioned to be the largest commercial one-stop hub for both domestic and export market for international standard agro-commodities in Nigeria. The Market is integrated with a trading platform; Gezawa Commodity Exchange (GCMX), where agricultural commodities will be traded live 24/7 online.
Its ultimate goal is to unlock the vast potentials of agricultural value chains through partnerships and synergy with like-minded enterprises, organizations and institutions throughout the world; to mutually create wealth, generate local employment and contribute significantly to the economic growth of Nigeria and its GDP.