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Cardinal Okogie Says No To Islamic Banking - Religion (3) - Nairaland

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Re: Cardinal Okogie Says No To Islamic Banking by BetaThings: 11:37am On Jul 02, 2011
Gbenge 77:

It does appear that Sanusi is losing it viz a viz the Islamic bank stuff.Its not needed at this time.

Please tell me when it will be needed

We are told we should privatise govt enterprises, we should have electronic voter's register, national ID, but we are not ready for this one

ebere1712:

Guys its simple, if you want islamic bank, f***ing build your own. That man is intentionally sabotaging banks to promote his abomination. If you want islamic bank, tell your rich to build one that you can use. You can even make it exclusively for muslims. Same goes for those who want amadioha bank and oduduwa bank. F****cking build your own. Dont sponsor any religious activity with the federal purse.


Why are christians so comfortable using strong words given what we are told about the temperament of christians?
Nobody is asking the government to finance any islamic bank - tell us the capital and other requirements and issue the licence

ebere1712:

I said that because the guy is deliberately killing existing banks to push his agenda. He has caused over 30000 people to directly loose their jobs. DO you know how long it takes Nigeria to create 30000 formal jobs? Not to be rude to any musims but the guys actions is a complete abomination.

How is he killing those banks? By bailing them out with N620b of our money?
Are Zenith, GTB, First bank, Access bank growing or not?
Are these banks being sold to muslims. Are Access Bank, Vine capital etc ie the buyers of the banks, owned by muslims?

dvee2:


Those referring to Papal or Vatican Newspaper position on Islamic Banking missed the point. Nobody is saying that the spirit and letters of Islamic Banking Operation is not beneficial and i understand the Pope was urging Europe to buy into that to salvage the economic crisis, you were therefore portraying his position out of context! There is a world of difference in the European context and what is obtainable here. Nigeria is a highly Volatile Country which can be easily ignited by religious sentiments especially by our Muslim brothers. (Gideon Asoluka from my area as a case study)
The Cardinal has expressed the reservations of the local church and indeed that of most Nigerians of discerning minds. He is therefore speaking in the Nigerian context. The way Sanusi and his cohorts are going about this smacks of suspicious intent and it behoves on the Chief Cleric to speak. Unfortunately, as one of the commentators noted here, there may not be any chick to slap as in most cases, these perpetrators of violence prefers cutting off the head! when the situation gets out of hand.
Bad luck for them these days, Tooth For Tat

`
OK for you islamic banking is beneficial and you have no problem with it except that Nigeria is a volatile country. Good because Boko haram is volatile,so Nigeria should not introduce educational programmes? because Nigeria is volatile we should not practice democracy?see how you think.
Akaluka's case was a wrong punished by jungle justice. I am not allowed to wipe my bottom with the Naira. I don't think that a muslim wiping his bottom with the Bible would be right. If I remember well, Akaluka was said to have wiped with his feaces with the Qur'an. That is wrong. He knew people would be insulted. But the people took the law into their hands. That is also wrong
But defining Islam by the reaction of people to provocation is as wrong as defining christianity by the action of Rev King
If this country is volatile, are we going to make it less so by opposing everything Muslims want?

As to subjugating Christians, how?
Will Christians be forced to open accounts with Islamic banks?
Is CBN saying No Christianity banking and giving approval to Islamic banking?
I hope you realise that muslims are subjugated by the existing weekend system?
Christians go to church on Sundays, but Muslims, unlike their counterparts in Muslim countries, go to work on Fridays
Re: Cardinal Okogie Says No To Islamic Banking by BinghiNya(m): 12:03pm On Jul 02, 2011
Okotie,

Why lose the respect you have built over the years with a flimsy reason. No one if forcing christians to patronize such banks. Christanity allows:

Gay marriage
Drinking of Alcohol
Usury(Profit on loans)
Deceit(Trinity)
Chauvinism(God,Jesus) both males
Selfishness ( Sunday is work free, friday is not)
Women pastors contrary to the bible
Rapists masking as pastors, overseers et al


I am ready for your backlash.
Re: Cardinal Okogie Says No To Islamic Banking by maasoap(m): 12:12pm On Jul 02, 2011
Who are the muslims that are still defending Islamic Banks by now? It's already a lost battle for them. They know the potential benefits of Islamic banks to this nation's citizens but for that single word "Islam". If you like, bank with us; if you don't like, DON'T bank with us. Islamic Banks will be built in all 36 states of the federation include FCT and they will survive and, Christians too will patronise it, I'm 100% sure of it. And don't try to sabotage a single branch, be it North or South. Okay?
Re: Cardinal Okogie Says No To Islamic Banking by nogames: 12:21pm On Jul 02, 2011
Hnmm  this another mere propaganda, Islamic banking can never work in Nigeria , with level of Muslim intolerance,  i can bet you if Islamic banking is thrieving by now,  Boko Haram would have bombed all conventional banks (non islamic bank) in the country .
Re: Cardinal Okogie Says No To Islamic Banking by LagosShia: 12:27pm On Jul 02, 2011
emmatok:

Are you saying Sanusi'as action is influenced by the "muslim businessmen"?

The-same muslim businessmen with investments in FBN,UBA, UNION BANK, e.t.c.

Why did't The-same muslim businessmen influence SOLUDO? undecided undecided

Now you know Sanusi has an agenda.

are you saying that Soludo refused Islamic banking while Sanusi is allowing it?that is not the case.if Soludo was here today,he too has to do his work as a government employee just like Sanusi and give license and permit those who have what it takes to establish a bank.so dont think you and your Okogie can fool anyone.just because he wears a white robe does not make him an angel or someone infallible we Muslims cannot question.
Re: Cardinal Okogie Says No To Islamic Banking by BetaThings: 12:46pm On Jul 02, 2011
nogames:

Hnmm  this another mere propaganda, Islamic banking can never work in Nigeria , with level of Muslim intolerance,  i can bet you if Islamic banking is thrieving by now,  Boko Haram would have bombed all conventional banks (non islamic bank) in the country .
Please bring evidence of muslim intolerance
Re: Cardinal Okogie Says No To Islamic Banking by maasoap(m): 12:50pm On Jul 02, 2011
Who will tell these people to stop this nonsense of saying that Nigeria is a secular state? There are two officially recognised religions in this country, Christianity and Islam because govt spends heavily on them every year.
And Christians out there should not make mistake of seeing Christianity and Islam at the same level. The former provides little guidelines for its followers to live their lifes while the latter provides a comprehensive guidelines for its followers right from when the parents want to conceive to when you're gasping for your last breath, and everything in between (economy, sport, science, religion, politics and governance, courtship, marriage, eating, sleeping, and just anything you have words to describe, including WAR). May be when next time you people are writing new version, you should try and include all these aspects of life in your book because I could see a pure jealous.
Re: Cardinal Okogie Says No To Islamic Banking by maasoap(m): 12:52pm On Jul 02, 2011
Who will tell these people to stop this nonsense of saying that Nigeria is a secular state? There are two officially recognised religions in this country, Christianity and Islam because govt spends heavily on them every year.
And Christians out there should not make mistake of seeing Christianity and Islam at the same level. The former provides little guidelines for its followers to live their lifes while the latter provides a comprehensive guidelines for its followers right from when the parents want to conceive to when you're gasping for your last breath, and everything in between (economy, sport, science, religion, politics and governance, courtship, marriage, eating, sleeping, and just anything you have words to describe, including WAR). May be when next time you people are writing new version, you should try and include all these aspects of life in your book because I could see a pure jealous.
Re: Cardinal Okogie Says No To Islamic Banking by nogames: 1:00pm On Jul 02, 2011
maasoap:

Who will tell these people to stop this nonsense of saying that Nigeria is a secular state? There are two officially recognised religions in this country, Christianity and Islam because govt spends heavily on them every year.
And Christians out there should not make mistake of seeing Christianity and Islam at the same level. The former provides little guidelines for its followers to live their lifes while the latter provides a comprehensive guidelines for its followers right from when the parents want to conceive to when you're gasping for your last breath, and everything in between (economy, sport, science, religion, politics and governance, courtship, marriage, eating, sleeping, and just anything you have words to describe, including WAR). May be when next time you people are writing new version, you should try and include all these aspects of life in your book because I could see a pure jealous.
hnm what about the violent? at least your religion allow you to kill anybody that is not accept islam, maybe we should add that to bible also
fool
Re: Cardinal Okogie Says No To Islamic Banking by naijaking1: 1:06pm On Jul 02, 2011
maasoap:

Who will tell these people to stop this nonsense of saying that Nigeria is a secular state? There are two officially recognised religions in this country, Christianity and Islam because govt spends heavily on them every year.
And Christians out there should not make mistake of seeing Christianity and Islam at the same level. The former provides little guidelines for its followers to live their lifes while the latter provides a comprehensive guidelines for its followers right from when the parents want to conceive to when you're gasping for your last breath, and everything in between (economy, sport, science, religion, politics and governance, courtship, marriage, eating, sleeping, and just anything you have words to describe, including WAR). May be when next time you people are writing new version, you should try and include all these aspects of life in your book because I could see a pure jealous.

Why are muslims pushing everything muslim on all Nigerians
Re: Cardinal Okogie Says No To Islamic Banking by LagosShia: 1:10pm On Jul 02, 2011
naijaking1:

Why are muslims pushing everything muslim on all Nigerians

you really need to see a doctor.
you dont see anything christian and imposing on muslims with sunday being a day-off every week,building and operation of learning institutions by christians and their missionaries to evenagelize, and opposing and abusing the muslim right to own an islamic financial institution e.t.c.

but you feel bad because the muslim is only minding his business?is he forcing you to bank in an islamic bank?if i am not forced to attend a christian university,and i dont feel compelled to,why do you feel anyone is imposing anything on you?
Re: Cardinal Okogie Says No To Islamic Banking by nogames: 1:11pm On Jul 02, 2011
BinghiNya:

Okotie,

Why lose the respect you have built over the years with a flimsy reason. No one if forcing christians to patronize such banks. Christanity allows:

man-lover marriage
Drinking of Alcohol
Usury(Profit on loans)
Deceit(Trinity)
Chauvinism(God,Jesus) both males
Selfishness ( Sunday is work free, friday is not)
Women pastors contrary to the bible
Rapists masking as pastors, overseers et al


I am ready for your backlash.

hnm what about the violent? at least your religion allow you to kill anybody that is not accept islam,
i wonder  if you know  that all these husua trailer drivers where drukers, they will pore beer into plastic kettle ,
go to Oke 0koto In AGEGE LAGOS.  hause ladies prostitutes were there  in large numer,
So who is fooling who?
Re: Cardinal Okogie Says No To Islamic Banking by naijaking1: 1:17pm On Jul 02, 2011
LagosShia:

you really need to see a doctor.
you dont see anything christian and imposing on muslims with sunday being a day-off every week,building and operation of learning institutions by christians and their missionaries to evenagelize, and opposing and abusing the muslim right to own an islamic financial institution e.t.c.

but you feel bad because the muslim is only minding his business?is he forcing you to bank in an islamic bank?if i am not forced to attend a christian university,and i dont feel compelled to,why do you feel anyone is imposing anything on you?

Nigeria was formed by the British based on clear secular principles. If you want to dissolve the union, say so, but don't just wake and realise that you're a muslim who needs to change the basic principles of our union.
Re: Cardinal Okogie Says No To Islamic Banking by BetaThings: 1:23pm On Jul 02, 2011
nogames:

hnm what about the violent? at least your religion allow you to kill anybody that is not accept islam, maybe we should add that to bible also
fool

What violence? Bring evidence of it! How come you have not been killed? How come you are able to say this? How come people even leave ISlam? If people MUST accept Islam, what is the purpose of the Jizya?

Bring evidence.

naijaking1:

Why are muslims pushing everything muslim on all Nigerians
Bring evidence. If you watch TV in the South, you would not believe that Nigeria is not a christian state
Re: Cardinal Okogie Says No To Islamic Banking by LagosShia: 1:48pm On Jul 02, 2011
naijaking1:

Nigeria was formed by the British based on clear secular principles. If you want to dissolve the union, say so, but don't just wake and realise that you're a muslim who needs to change the basic principles of our union.

so if muslim businessmen start up a bank with islamic financial system,that dissolves the union?

my friend Nigeria is not a union between muslims and christians.nigeria can be said to be a union between north,south and east but not between muslims and christians.muslims and christians are everywhere in the country.

there are muslims in the south-west who are in favor of this banking system.how do you dissolve that union among southerners or among yorubas?

you can start by leading by example.tell okogie that politics and governance in nigeria is not for clerics.he should stick his nose to church affairs and not interfere what does not concern him.he should talk about vatican affairs and not nigerian affairs.

christians have learning institutions and we did not hear any outcry.why is it a problem if a muslim wants to start up a financial institution?are muslims persecuted in Nigeria?when would you ask the government to start asking muslims to stop building Masjids?just take a look at lekki-epe expressway and see the way christian places of worship are so visible and decorating the highway.no one says anything.maybe if a muslim wakes up to build a masjid along the expressway where it is visible,wont you also complain?this is nonsense.nigerian muslims be they from the south or north need to stand together as one and stop this nonsense and provocation.
Re: Cardinal Okogie Says No To Islamic Banking by ziccoit: 1:49pm On Jul 02, 2011
In hospitals, banks, offices etc the workers are forced to participate in christian way of worship not minding your religion beliefs.

Addmissions, employments into government schools and agencies resp are based on whether you are a Christian.

North-South religion dicothomy is very light on the lip of my fellow christians premise on erroneous believe that muslims are not found in the South.

Who is intollerant? Who is forcing his beliefs on who? Who is fooling who?
Re: Cardinal Okogie Says No To Islamic Banking by Castyo2yahoocouk(f): 2:19pm On Jul 02, 2011
I have watchd d central bank Gov speak,I Agree with him all d time but on this I say a big "NO",I stand with the cardinal, please nairalanders reason well @ all times b4 making comments,dnt do so coz U hav free internet access,come to think of it,Is islamic banking the best & only way to revive the Nigerian economy,It is time we stop selfseeking cos that is the new definition of patriotism in Nig
Re: Cardinal Okogie Says No To Islamic Banking by Castyo2yahoocouk(f): 2:22pm On Jul 02, 2011
I have watchd d central bank Gov speak,I Agree with him all d time but on this I say a big "NO",I stand with the cardinal, please nairalanders reason well @ all times b4 making comments,dnt do so coz U hav free internet access,come to think of it,Is islamic banking the best & only way to revive the Nigerian economy,It is time we stop selfseeking cos that is the new definition of patriotism in Nig
Re: Cardinal Okogie Says No To Islamic Banking by Castyo2yahoocouk(f): 2:22pm On Jul 02, 2011
I have watchd d central bank Gov speak,I Agree with him all d time but on this I say a big "NO",I stand with the cardinal, please nairalanders reason well @ all times b4 making comments,dnt do so coz U hav free internet access,come to think of it,Is islamic banking the best & only way to revive the Nigerian economy,It is time we stop selfseeking cos that is the new definition of patriotism in Nig
Re: Cardinal Okogie Says No To Islamic Banking by EzeUche(m): 2:32pm On Jul 02, 2011
We in the South, especially in the 100% Christian East do not want to have Islamic banking. I stand with Cardinal Okogie.
Re: Cardinal Okogie Says No To Islamic Banking by bigdoo: 2:35pm On Jul 02, 2011
Can the president GEJ please relieve Mr Sanusi of his post as CBN governor ASAP.  He has nothing to offer Nigerians.  The naira has become weakened since he took over office from Prof Soludo who was capable of making the naira much stronger during his reign as CBN governor.  I was highly disappointed when Mr Sanusi was given an award for good performance.  I fully understand that most people get awards based on their connections and their power to lobby and not on merit.  If not how can such a dullhead get such an award?
Re: Cardinal Okogie Says No To Islamic Banking by coolcore: 2:37pm On Jul 02, 2011
NO ISLAMIC BANKING IN NIGERIA NO ABOKI LAMIDO IF YOU WANT NIGERIA TO ENJOY PEACE IT ALWAYS ENJOYED WITHOUT WAR AND EARTHQUAKE STOP ISLAMIC BANKING I HAVE WARNED YOU ALL QUOTE ME
Re: Cardinal Okogie Says No To Islamic Banking by dvee2: 2:50pm On Jul 02, 2011
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 Re: Cardinal Okogie Says No To Islamic Banking
« #82 on: Today at 02:22:53 PM »  

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I have watchd d central bank Gov speak,I Agree with him all d time but on this I say a big "NO",I stand with the cardinal, please nairalanders reason well @ all times b4 making comments,dnt do so coz U hav free internet access,come to think of it,Is islamic banking the best & only way to revive the Nigerian economy,It is time we stop selfseeking cos that is the new definition of patriotism in Nig


Yes Aunty,i agree with you "reason well @ all times b4 making comments". Also some topics should be off limit for kids lol.No sister, islamic banking is not the best way to revive our economy,and the CBN did not claim dat either.All the CBN does is to approve licence to group of Nigerian citizens to open a bank,just in this case islam is attached to the name of the bank hence the hue.
Imagine when that Nigerian approach the ministry of education MOE for licence approval to open the Canaan Christian university and those Moslem come up to say no way,you cant do that Nigeria is a secular country? OMG tolerance compatriot,tolerance. And this coming from our educated lots,how will the uneducated now respond?
Re: Cardinal Okogie Says No To Islamic Banking by BetaThings: 3:11pm On Jul 02, 2011
Castyo2@yahoo.co.uk:

I have watchd d central bank Gov speak,I Agree with him all d time but on this I say a big "NO",I stand with the cardinal, please nairalanders reason well @ all times b4 making comments,dnt do so coz U hav free internet access,come to think of it,Is islamic banking the best & only way to revive the Nigerian economy,It is time we stop selfseeking cos that is the new definition of patriotism in Nig
What is the valid point that the Cardinal made that you stand with? You have asked us to reason well. answer these
That christians will be subjugated?
That Nigeria is a secular state?
Please tell us so that we can both reason



EzeUche:

We in the South, especially in the 100% Christian East do not want to have Islamic banking. I stand with Cardinal Okogie.

I am not sure that you can speak for the entire East. I know that there a are a lot of Uches who will borrow from an Islamic Bank if it will promote their business since you will not be required to go into a mosque or convert to Islam to patronise (or borrow from) an Islamic Bank
However, I hope you realise the CBN is just giving approval, but not establishing a bank. So if nobody from the East wants it or will not patronise it, there will be no branch there
I recall that a few weeks ago, there was a training on Islamic Finance in Lagos, there were more christians in attendance than muslims. The firm that sponsored the largest number of trainees is owned by muslims but it sponsored more christian participants than muslim participants
Re: Cardinal Okogie Says No To Islamic Banking by emmatok(m): 3:12pm On Jul 02, 2011
maasoap:

Who will tell these people to stop this nonsense of saying that Nigeria is a secular state? There are two officially recognised religions in this country, Christianity and Islam because govt spends heavily on them every year.
And Christians out there should not make mistake of seeing Christianity and Islam at the same level. The former provides little guidelines for its followers to live their lifes while the latter provides a comprehensive guidelines for its followers right from when the parents want to conceive to when you're gasping for your last breath, and everything in between (economy, sport, science, religion, politics and governance, courtship, marriage, eating, sleeping, and just anything you have words to describe, including WAR). May be when next time you people are writing new version, you should try and include all these aspects of life in your book because I could see a pure jealous.

My friend Nigeria is a secular state.


Saudi, UAE, Vertican, are not secular states.

Go check the meaning of  a secular state.

Even the USA  with predominant Christians is secular state.
Re: Cardinal Okogie Says No To Islamic Banking by kholis(m): 3:17pm On Jul 02, 2011
All said and done, the Tag of Islamic banking in Nigeria is inappropriate at least for now. Those that are very desperate at copying hook, line and sinker what obtains in other climes should know that we have different historical, territorial organization.

In the 1960 s, we aped parliamentary system of govt from Britain and it failed. In late 1970 s, we essayed  presidential system of America and up till now, we cant get it right. As if that is not enough, some people are clamouring for a banking structure that have Islamic nomenclature just because it is practiced elsewhere.

Quote me  somebody. This move, if implemented, will further divide us along religious line. For those who see nothing wrong with it, I pray that they and their family members will not be affected by the violence this policy MUST entrench in our country.
Re: Cardinal Okogie Says No To Islamic Banking by BetaThings: 3:22pm On Jul 02, 2011
kholis:

All said and done, the Tag of Islamic banking in Nigeria is inappropriate at least for now. Those that are very desperate at copying hook, line and sinker what obtains in other climes should know that we have different historical, territorial organization.

Quote me  somebody. This move, if implemented, will further divide us along religious line. For those who see nothing wrong with it, I pray that they and their family members will not be affected by the violence this policy MUST entrench in our country.
you can also quote me, I would begin to see christians as more interested in driving muslims out of this country
what is it that christians want that muslims have opposed?
You go to worship on Sundays from your homes, muslims go to the mosque on Fridays from work
We have never complained about this
Re: Cardinal Okogie Says No To Islamic Banking by naijaking1: 3:22pm On Jul 02, 2011
kholis:

All said and done, the Tag of Islamic banking in Nigeria is inappropriate at least for now. Those that are very desperate at copying hook, line and sinker what obtains in other climes should know that we have different historical, territorial organization.

In the 1960 s, we aped parliamentary system of govt from Britain and it failed. In late 1970 s, we essayed  presidential system of America and up till now, we cant get it right. As if that is not enough, some people are clamouring for a banking structure that have Islamic nomenclature just because it is practiced elsewhere.

Quote me  somebody. This move, if implemented, will further divide us along religious line. For those who see nothing wrong with it, I pray that they and their family members will not be affected by the violence this policy MUST entrench in our country.

For once, I'm beginining to see the positive side of this radical islamic move. The earlier Nigeria is neatly divided along religious lines the better, and earlier the muslims will know that they are a minority in Nigeria.
Re: Cardinal Okogie Says No To Islamic Banking by LagosShia: 3:33pm On Jul 02, 2011
naijaking1:

For once, I'm beginining to see the positive side of this radical islamic move. The earlier Nigeria is neatly divided along religious lines the better, and earlier the muslims will know that they are a minority in Nigeria.

there are six geo-political zones in nigeria: north-west,north-east,north-central,south-west,south-south and south-east.

only in the smallest two:south-south and south east do christians form an absolute majority.
Re: Cardinal Okogie Says No To Islamic Banking by LagosShia: 3:36pm On Jul 02, 2011
emmatok:


My friend Nigeria is a secular state.


Saudi, UAE, Vertican, are not secular states.

Go check the meaning of a secular state.

Even the USA with predominant Christians is secular state.

we have many institutions with religious tags.only now do these so called christian leaders think they can stop a religious institution because it is islamic.may be they think because Jonathan is christian nigeria has become a christian country.Jonathan should warn these so called christian leaders to stop inflaming tension and trying to sabbotage his rule, Nigeria is for all Nigerians and they all should be free to practice their faiths the way they like it and use their money how they want and where they want.
Re: Cardinal Okogie Says No To Islamic Banking by BetaThings: 3:54pm On Jul 02, 2011
LagosShia:

we have many institutions with religious tags.only now do these so called christian leaders think they can stop a religious institution because it is islamic.may be they think because Jonathan is christian nigeria has become a christian country.Jonathan should warn these so called christian leaders to stop inflaming tension and trying to sabbotage his rule, Nigeria is for all Nigerians and they all should be free to practice their faiths the way they like it and use their money how they want and where they want.

There is really no need to warn people. Let them bring evidence of how a bank will subjugate a community
I cannot see how MTN, for instance, can subjugate me if I decide not to patronise it
The secularism argument plays into the hands of only traditional worshippers, homsex.uals etc
What if traditional worshippers now want their holidays and they will have their rites shown on TV the way christmas carol is
Re: Cardinal Okogie Says No To Islamic Banking by emmatok(m): 3:58pm On Jul 02, 2011
activists urge CBN to seek judicial interpretation

http://www.punchng.com/Articl.aspx?theartic=Art201107021524043

Two human rights activists, Ugochukwu Osuagwu and Charles Ogboli, have added a new twist to the controversy about the proposed Islamic banking with a call on the governor of the Central Bank of Nigeria, Mallam Sanusi Lamido, to suspend action on it until the court gives its interpretation.


They are irked by the revised CBN circular reference No: FPR/DIR/CIR/GEN/01/017 dated June 21, which reversed its earlier circular reference No: FPR/DIR/CIR/GEN/01/010.


The lawyers, in a statement entitled, ‘The constitutionality of the proposed Islamic Banking-CBN’s blunder,’ said the highlights of the June 21 guidelines (earlier rejected by Sanusi’s predecessor, Prof. Charles Soludo), would show that the apex bank did not provide for similar procedures, rules and regulations for those who wanted to transact non-interest banking other than Islamic banking.


They said, “It is our view that the CBN should seek a judicial interpretation of the proposed Islamic banking guideline vis-a-vis the Nigerian constitution and Section 39 (1) BOFIA 1991 as amended, so as not to ignite speculation as to the constitutionally of the guidelines; more so, at a time when the country is passing through religious and security challenges.


“As we are aware, this matter has been taken to the law court for interpretation; we therefore advise the CBN to suspend further action on this proposed Islamic banking until the court disposes of the matter.


“In other words, the guidelines only recognised and made provision for non-interest (Islamic) banking and no other. This means unless a prospective applicant is a Muslim or is Sharia-compliant, they cannot obtain a licence to run non-interest banking. This provision is against Section 16 (1) a) of the 1999 Constitution.


“Second, the CBN, by stating in the guidelines that the word ‘Islamic’ shall not be used by the applicant for Islamic banking, makes no difference. The fact remains that the article and Memorandum of Association, practice and procedure of the bank will be Sharia law compliant.


“Third, the provision that such banks shall not give loans or allow for transactions in pork, arms and ammunition, alcohol and other goods and services prohibited by the Sharia law is unconstitutional.”


They cited Section 38 (1) of the 1999 Constitution (Freedom of thought, conscience and religion) and Section 10, which declares that Nigeria shall not adopt any religion as state religion, meaning the country is a secular state.


For those who think Nigeria is not a secular state.

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