Islamic banking, so what?

A few weeks ago, the Governor of Central Bank of Nigeria, Sanusi Lamido Sanusi announced the approval of the apex bank to those wishing to begin non-interest banking otherwise called Islamic Banking. Since the announcement, a segment of Nigerian elites who ordinarily ought to know better have launched an unfortunate campaign of smear and falsehood […]

A few weeks ago, the Governor of Central Bank of Nigeria, Sanusi Lamido Sanusi announced the approval of the apex bank to those wishing to begin non-interest banking otherwise called Islamic Banking. Since the announcement, a segment of Nigerian elites who ordinarily ought to know better have launched an unfortunate campaign of smear and falsehood against the Governor and, by implication, the entire Muslim population in the country.

I am not surprised that CAN will raise issues but the rude shock came from the Nigeria Bar Association, a body of both Muslim and Christian lawyers in the country under the leadership of a legal luminary of repute, JB Daudu. Is the NBA or my brother JB telling us that they don’t know what non-interest banking is? Or are they just objecting due to the term Islamic?

It is an irony that those who should know in this country are responsible for the propagation of falsehood most of the time. I find it difficult to understand why for instance the introduction of Islamic dimension of banking in the country where the Muslim population is certainly not less than half of the total population should be a problem to non-Muslim elites.

I think, for too long we have ventured into avoidable terrains. As I said earlier, there is a growing conspiracy amongst the elites to continue to blindfold the common man so that he does not understand why he is poor, why he has no electricity despite the trillions of Naira that have been earmarked and removed from the treasury for that purpose. Why life is worst than it was at the point of independence in 1960.

I have seen Islamic Banks in predominantly non-Muslim countries like Britain and in fact some of the world’s biggest financial institutions like the HSBC have windows on interest free banking otherwise called Islamic Banking. Substantial customers of these banks, studies have shown, are non-Muslims, and in fact quite a lot of them are Christians.

The agitation by those who are kicking against the introduction of the non-interest system of banking or the creation of the window for those banks that desire to offer such services in my view is a deliberate affront on the sensibilities of the millions of Nigerian Muslims which must be treated with caution in the interest of national peace and harmony.

I see the development as unbecoming and certainly unacceptable to me and millions of others like me. Politics of religion could be negative to national aspiration when deployed in the manner that some are going about it, at the moment it is unfortunate, despicable and unbecoming of Nigerian to want to determine how I live my private and public life as long as they are in conformity with the laws of the land.

Let me conclude this segment by making two statements. One, I support wholeheartedly the decision of the CBN to open the window of opportunity to those who desire non interest banking and it must be as a fundamental aspiration of a very large segment of the Nigerian population. Nobody is asked or forced to use the opportunity but no one also has the moral or constitutional right to deny those who desire it and are welcoming it.

The fallacy about secularity and religiosity is a hypocrisy of the Nigerian elite. We deploy such statements or take such position when we want to be selfish. CBN must go ahead with the decision even if for constitutional reasons. After all, most Nigerian Muslims may not patronize the opportunity while several other non-Muslims may embrace the development.

Secondly, there is the need for those elites especially from the Christendom that are threatening FIRE AND WAR AGAINST THIS NOBLE INNOVATION TO NOTE That Nigeria is not for them alone. They are citizens just like others are. Just like the whole of Nigerian Muslims cannot claim that the country is theirs alone, so also is the case with Nigerian Christians. Nigeria is for us all and we are Muslims and Christians and must allow each other live on the basis of our beliefs and aspiration.

I am disappointed that those who should know are pretending not to know. I am ashamed that the Nigerian elite is yet again playing the role of destruction instead of building a strong and prosperous nation based on equality and justice. Let me conclude by hailing Sanusi Lamido Sanusi and the CBN for this historic decision.

….And Zainab Maina is also here!!!

Early in the week, the long speculations to who are the ministerial nominees was partially put to rest when President Goodluck Jonathan submitted some names to the Senate for screening and confirmation as Ministers of the Federal Republic. About 13 former ministers made the list among which is Bala Muhammaed, the dynamic FCT Minister whose rise within the nation’s political echelon was rather than sudden, spectacular.

Professor Ruqqayyatu Alkali, Dizeani Maduekwe and my friend and contemporarian, Labaran Maku are also included. Among the new entrants, many other very capable and competent Nigerians are enlisted and I have no doubt in mind that the cabinet will be sound but what will be required is the political will on the part of the president to allow the ministers work. I hope he does that.

The decision to bring on board a woman of substance like Zainab Maina only suggests how desperate the president is in having the right caliber of Nigerians as part of the cabinet. I have personally met Zainab Maina about once or twice but I have painstaking followed through her activities in the last two decades since she came into national limelight as the president of the National Council of Women Societies.

I am of the view that both President Jonathan and his wife Patience will have a true advisor and operator on issues relating to women and children. The choice wouldn’t have been any better. Again, I do pray that the president will give the ministers the opportunity and latitude to work without the traditional emasculation that saw in previous regimes.

I am sure the senate will not need to waste anytime in clearing the nomination of Zainab. They may of course be interested in listening to lecture on women and children issues from this woman of substance whose selection has generated so much approval amongst different segments of the Nigerian society, especially the women.

I hope and pray that henceforth, the nation will make bold to get things better so that we are out of this mess that we have been in for quite a while. I congratulate Nigerian women and children for this choice and hope that Nigeria will be a better place. For Zainab and the many others designated to begin work as ministers, we wish them the best.