Q: Who is Dukia Gold?

Dukia Gold & Precious Metals Refining Co. Ltd (Dukia Gold) is a full-service bullion merchant involved in the trading (buying and selling), vaulting and custodial services of gold and other precious metals in addition to our other gold value chain activities from mines to market.

Question 1

Who is Dukia Gold?

Accepted Answer

Dukia Gold & Precious Metals Refining Co. Ltd.

Your Precious Metals Refiner & Trusted Bullion Merchant

3B, Olusola Olude Close, Gbagada Phase 2, Lagos, Nigeria

sales@dukiapreciousmetals.co

support@dukiapreciousmetals.co

+234 703 323 8121 | +234 902 736 2944

Stored by:

Question 2

Is the investment in bars, coins, or jewellery?

Accepted Answer

Dukia offers investment-grade gold rather than jewellery. Customers can purchase gold bars, coins, or pool-allocated gold, depending on the product selected.

Question 3

Is the gold real?

Accepted Answer

Yes. Every gold investment is directly allocated to pure gold kilo bars stored in the vault of Brinks. Each bar has the refiner’s logo, unique serial number, year of manufacture, and country of manufacture reported in the Dukia Gold app. The physical gold never leaves the vault (unless you request physical delivery).

Question 4

What quality is the gold?

Accepted Answer

Each of the kilo bars is 99.99% (.9999) pure gold. Each bears a unique hallmark and an imprint certifying weight and fineness.

Question 5

How do I buy gold from you?

Accepted Answer

After funding your account via a linked bank account, simply visit the ‘Buy & Sell’ tab in the Dukia Gold app or select ‘Buy Gold’ on the Overview page.

Question 6

What is the minimum amount to start investing?

Accepted Answer

The minimum purchase amount for gold is ₦5,000.

Question 7

What are bid, ask, and spread?

Accepted Answer

The ask price is the price at which customers buy gold, while the bid price is the price at which customers sell. The difference between them is the spread, which covers market risk, processing, storage, and operational costs. Prices change with market conditions, so customers should check the live prices displayed on the platform before transacting.

Question 8

What charges apply?

Accepted Answer

Currently, there are no purchase, storage, or selling charges. Storage and selling fees may be introduced later and communicated to customers beforehand.

Question 9

How is the return on investment or interest rate determined?

Accepted Answer

Gold does not pay a fixed interest rate. Your return depends on changes in the gold price and related market factors between when you buy and when you sell, after any applicable spread or charges. Returns are not guaranteed, and the value of your holding can go up or down.

Question 10

Does Dukia have a physical office where I can purchase gold bars?

Accepted Answer

Dukia has a physical office, but it is not open for walk-in purchases. Customers should purchase gold through the Dukia platform.

Question 11

Can I request physical bars for personal custody?

Accepted Answer

Yes. Customers may request physical delivery of eligible gold bars purchased through the platform, subject to product availability and Dukia’s delivery requirements.

Question 12

What are the requirements for taking custody of physical bars?

Accepted Answer

To request physical delivery, you typically need to complete KYC, hold an eligible product, submit a delivery request through Dukia, and meet any applicable delivery, identity, and address verification requirements. Exact steps and charges, if any, will be confirmed when you place the request.

Question 13

What are your delivery methods?

Accepted Answer

Our packages are discretely wrapped and delivered through our partner couriers with an option for insurance. You can also advise your preferred courier service provider and arrange for your insurance. When you receive goods from us by courier, we advise you ensure the external packaging has not been tampered with. If you notice any sign of tampering or damages, you should not sign for it.

Question 14

Is gold purchased on the platform insured, and how is my investment protected?

Accepted Answer

Yes. Gold stored with Dukia is held in LBMA-accredited, high-security, fully insured storage facilities in Switzerland and the UK. Your holdings are allocated and recorded in your Dukia account, so you can see what you own.

Question 15

For customers concerned about security risks in Nigeria, where is their gold stored and how is it protected?

Accepted Answer

Gold held as an investment through Dukia is not stored in Nigeria. It is stored in LBMA-accredited, high-security, fully insured vaults in Switzerland and the UK, protecting it from local security risks.

Question 16

Is there documentation showing how gold ownership is recorded and protected?

Accepted Answer

Yes. Every gold investment is directly allocated to pure gold kilo bars stored with Brinks. Each bar has the refiner’s logo, unique serial number, year of manufacture, and country of manufacture, and these details are reported in the Dukia Gold app. Your ownership is also reflected in your account holdings and transaction records.

Question 17

How quickly can I sell and receive cash?

Accepted Answer

You can place a sell order through the Dukia platform using the live bid price. After a successful sale, proceeds are credited according to Dukia’s settlement process. Bank payouts are typically completed within 3 business days.

Question 18

What is the current buy/sell spread in writing?

Accepted Answer

The buy/sell spread is the difference between the ask (buy) price and the bid (sell) price. Because it can change with market conditions, Dukia does not publish a fixed permanent percentage. Customers should check the live bid and ask prices on the platform before buying or selling.

Question 19

How does Dukia provide liquidity, and can customers sell at the prevailing market rate?

Accepted Answer

Customers can submit sell orders through the Dukia platform using the prevailing live bid price. Dukia supports liquidity through its bullion inventory, trading relationships, and market operations. Transactions remain subject to market conditions and any applicable limits.

Question 20

If I invest ₦20 million today and sell everything in 12 months, what is the process, timeline, fees, and amount I would receive?

Accepted Answer

You buy at the live ask price, hold the gold in your Dukia account, and sell at the live bid price after 12 months. A sell order can be placed on the platform, and bank payout typically takes up to 3 business days after a successful sale. There are currently no purchase, storage, or selling charges. The amount received will depend on the gold price and market conditions at the time of sale, so Dukia cannot guarantee a fixed future payout. Your return will reflect the difference between the buy and sell prices over that period.

Question 21

Is the gold independently audited, who performs the audits, and how often?

Accepted Answer

Yes. Gold holdings and custody arrangements are subject to independent audit and reconciliation procedures. The vaulting partners and Dukia’s related controls are reviewed periodically to confirm that customer-allocated gold is properly accounted for.

Question 22

When will Dukia start offering silver?

Accepted Answer

Silver is on Dukia’s product roadmap. An official launch date will be announced once product readiness and internal approvals are complete.

Question 23

How far along is the Dukia Card?

Accepted Answer

The Dukia Card is in progress and remains subject to product, operational, and partner readiness. Official availability and eligibility details will be communicated once they are approved.

Question 24

How do I know your app is safe?

Accepted Answer

We follow industry-leading best practices for data security, including encrypting all data in transit and at rest, maintaining redundant, multi-location data backups, and upholding rigorously strict data access policies. The Dukia Gold Trading platform is designed and maintained by engineers with a wealth of experience in the finance and technology industries and our platform is regularly vetted by multiple external 3rd-party vendors, to review the cybersecurity of our application.

Question 25

How do I sell my gold?

Accepted Answer

To sell gold: 1. Log in to your Dashboard. 2. Navigate to 'Buy & Sell' and select 'Sell Gold'. 3. Enter the amount you wish to redeem in Naira (₦). 4. The system will calculate the gold units based on live market rates. 5. Click 'Sell' and enter your Transaction Code (2 numbers and 8 letters). 6. Click 'Sell' again to complete. Your bank account will be credited within 3 business days.

Question 26

How do I deposit funds?

Accepted Answer

To deposit funds: 1. Log in to the platform. 2. Click 'Fund Account' on your dashboard. 3. Enter the amount. You can choose 'Pay with Paystack' for instant crediting or 'Pay with Bank Transfer' (takes 3-7 working days for confirmation). 4. Follow the on-screen instructions to complete your transaction.