Osun State in Nigeria will begin to locally add value to its mineral resources by minting gold coins, courtesy of a partnership between the African Diaspora Central Bank (ADCB), R&S Consulting based in Germany and local company Omo Oba Mining Nigeria Limited.
In a joint statement issued by R&S Consulting –Germany and Omo-Oba Mining Nigeria Limited following the agreement signed with the African Diaspora Central Bank on January 9, 2025, the parties emphasized the importance of the economic transformation as a consequence of their collaboration in Osun State.
The agreement will see the minting of physical gold coin denominations of the African Kingdoms LUMI (AKL) in Osun State.
Ms. Jumoke Lawoyin, CEO Omo-Oba Mining Nigeria Limited
“R&S Consulting and Omo-Oba Mining are committed to harnessing the rich gold resources of Osun State in a manner that benefits both the local economy and the broader African economic landscape. The first tranche of (AKL) LUMI 2.3 million (US$50 million) investment from the African Diaspora Central Bank is a testament to the power of strategic partnerships in driving sustainable development. By supporting artisanal miners with critical infrastructure, we aim to create a sustainable and efficient value chain, from refining to minting, that ensures the direct monetization of gold secured from Osun State. We want to ensure that our mineral resources truly contribute to the prosperity of the local operators.”
Stephen Adeoye -Partner Raphael Ofori-Adeniran -Partner R&S Consulting –Germany R&S Consulting –Germany
“This initiative goes beyond mere resource extraction; it is about empowering local artisans, enhancing economic stability, and promoting long-term growth. By integrating the refined gold into the LUMI

currency, which is Africa’s foremost gold-backed legal tender, we are not only adding value but also securing a stable and sustainable income source for the people of Osun State. Together, we are laying the foundation for a resilient and self-reliant future, leveraging our expertise and the Diaspora’s investment to catalyze significant economic transformation,” the statement concluded.
Background information
R&S Consulting -Germany is a private business consulting agency based in Germany. Its proprietors, Stephen Adeoye and Raphael Ofori-Adeniran, bring together a consortium of over 30 experts and companies from varied fields including Integrated Agriculture, Renewable Energy, Mining and Construction, and Finance.
Omo-Oba Mining Nigeria Limited is a local mining company in Nigeria spear-headed by mining expert, Ms. Jumoke Lawoyin, former advisor to the Nigerian Ministry and Natural Resources. Omo-Oba Mining is engaged in the buying of gold from artisanal miners and refining them into tradable commodities and other value-added products from precious metals such as gold, diamonds, gem stones, metals, etc.
Former Nigerian President Olusegun Obasango recently said, “The continent’s natural resource landscape attracts a wide range of national, multinational and state-backed foreign companies seeking to capitalize on the surge in demand and incentives offered by governments in many African countries.”
“But, there appears to be a linkage between broader governance deficits and those specifically linked to the governance of natural resources in Africa. This partly explains why weakness in governance happens despite the centrality of natural resources to the economic and political life of many African states. It is in such countries, for instance, that the entire value-chain in natural resource exploitation is by far the most opaque and mostly mired in corruption,” he added. “We have everything to create wealth on the continent of Africa. Nobody will do it for us, so we have to do it for ourselves.”
His Royal Majesty Rex Semako I & VI King Timothy Elisha McPherson, President of the African Diaspora Central Bank (ADCB), said “The artisanal miners of Osun State have been making money out of gold, bronze and precious stones for countless generations, and our investment facilitates the transformation of their gold trade into a modern gold industry. Since the opening of ADCB in 2021, Our regional approach to monetary integrity has generated absolute returns because of its focus on measured principles of monetary tradition and stability as practiced by Our kingdoms throughout recorded history. The LUMI has been financially engineered as a true medium of exchange, store-of- value, and unit of account, with its sustainability adjusted to climate action. We are producing in Osun State the LUMI 10 denomination gold coin with a base weight of 2.952 grams gold and a purity of 18 carat gold. This denomination is pari passu in its underwriting to all other denominations of the African Kingdoms LUMI.”
HRM Rex Semako I & VI King Mc Pherson President of African Diaspora Central Bank

“As we strengthen our currency in its usage for stable payments and settlements across the continent and throughout the Diaspora Sixth Region, this agreement will solidify confidence in the ability of the African Diaspora Central Bank to perform its regional function as the Diaspora’s global financial clearing house. Our gold production and minting activity in Osun State will give monetary and structural confidence to our continental partners, our sovereign members, civil society, and all partner financial institutions throughout the Caribbean, the Americas, Eurasia, and the South Pacific.”
“Finally, this agreement strategically compliments ADCB’s regional investments in active volcanoes which we are using for sustainable energy generation and capital reserve. The LUMI’s unique energy/gold standard has positioned ADCB better than its peers in the ability to comfortably finance Africa’s diverse infrastructure needs and long-term capital projects with amortization cycles ranging from 25 – 100 years, while simultaneously securing our money against unpredictable seismic shifts in capital markets,” commented HRM Rex Semako I & VI King Mc Pherson.
The monumental gold deal follows on the heels of the launch of the IPADA Initiative which formally commenced at the end of 2024. The IPADA Initiative is committed to transforming the whole continent of Africa into a robust “Tourism Super Economy” for the returning Diaspora and lovers of Africa to enjoy Africa in a new way never experienced before. Supporting the IPADA Initiative’s popular slogan “From Slave Ships to Cruise Ships,” the African Diaspora Central Bank has invested US$9 billion towards the construction of 6 luxurious cruise ships that will travel the transatlantic route entering ports in West Africa, the Caribbean, Brazil, Nova Scotia, and Virginia. The investment in cruiseships is part of the regional ECO-6 commitment towards funding the development of a comprehensive Sea, Air, Land Transportation (S.A.L.T.) System between Africa and the Sixth Region.
With tourism, trade and Diaspora Direct Investments now at the center of intra-African relations, the (AKL) LUMI is best positioned to transform Africa’s financial regime in fulfilment of the agenda for an integrated single African global currency.

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