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Islamic Banking: Oritsejafor Replies Sultan! - Politics (2) - Nairaland

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Re: Islamic Banking: Oritsejafor Replies Sultan! by Solozzo(m): 6:08pm On Jul 30, 2011
Thanks Barkono. If Islamic banks are operating in the UK why not here in naija. I think what the proposers want is to legalize and license the banking system, that is all. People should then be free to operate it. There is a big misunderstanding, and xtians need education on the issues. We also need assurance nobody would be forced to join any Islamic bank even in the northern states. Orisejafor should learn more about the Islamic bank, already noted to be okay by Dr Iweala. Only time will tell how successful it will be.

Pt is natural to be wary of new ideas.


Barkono:

@ Olumide
Here are the holes : "let it also be known that we are not against islamic banking per se, " Contrast this with ", this is in addition to a proposed establishment of a sharia council of experts to be based at the CBN to monitor the operations of the islamic banking and we asked, is this what operates in all the countries before the introduction of islamic banking as against other non-interest banking" I must say, that this man is confused. How do you manage an institution that is out to benefit the generality of the populace without having experts/consultants? In the UK., the islamic bank of britain has a sharia advisory committee, which advises the central bank governor. And it is called Sharia Supervisory Committee. See www.islamic-bank.com/sharia-finance, It is therefore disheartening that the CAN president, whom we assumed to be well travelled and knowledgeable, will speak to the press without making research. And he said 'we have continued to frown at the way the CBN governor who is paid with taxpayers money to be championing islamic banking, " This is crazy. Who do investors look up to on matters like this before investing their dough? Does he think the 25billion naira, they are depositing will not come with some price? I doubt if the CBN, will box the 25billion naira, just for safe keeping.

2. In other interviews, he brought the issue of OIC, the ajami (arabic) letters on the naira notes. He went further to say that the removal of the ajami on the smaller notes by Soludo, has been brought back bY Sanusi. I wonder if this man handles Nigerian currencies at all. I didn't see any ajami on our smaller denomination. If this man has an issue with Islam, then the Sultan is corrrect when he said what he said earlier.
On the issue of Boko Haram, the CAN president was in the news supporting the Niger Delta militants, in their heydays. The Sultan as a former intelligent officer knows exactly what he is saying.
I think the CAN has made a big mistake by nominating this Oritseajaifor of a man. He doesn't think before he speaks. He should have studied the situation before talking. Thank God he said it himself, that the Sultan has finally spoken. But the Sultan was consulting and thinking before he spoke. That is sign of good leadership.
Lest we forget, this CAN president's wife is managing eagle flight microfinance bank, in warri. A bank that is neck deep in usury. How holy is he then?

Re: Islamic Banking: Oritsejafor Replies Sultan! by emsquare(m): 6:56pm On Jul 30, 2011
Islamic banking dey cause problem,
Re: Islamic Banking: Oritsejafor Replies Sultan! by sosereal(m): 7:39pm On Jul 30, 2011
[color=#990000][/color]i cant cease to wonder why the people championing islamic banking are doing it with so much politics,one cannot help but agree that there is more to this than meet the eyes.our muslim brothers from the north should know that they cant wake up decide for every Nigerian like non other has a stake.Islamic banking as a system is acceptable but what happened to due process whatever rule guiding the islamic bank must apply to all other non interest banking and i guess this should be simple if there are no hidden agendas. guess this should be simple if there are no hidden agendas.
Re: Islamic Banking: Oritsejafor Replies Sultan! by JJrawling: 7:39pm On Jul 30, 2011
Pastor,Orsejefor,the CAN president is the best CAN president Christians have ever have in Nigeria.May God continue to bless you in Jesus name,amen.
As for the Sharia banking,majority of Nigerians don't need it and it will remain a still birth because majority of Nigerians have rejected it abnitio.
As for their saltan whatever telling us that Islamic bank has come to stay in Nigeria is a balderdash
Re: Islamic Banking: Oritsejafor Replies Sultan! by Korrection(m): 8:36pm On Jul 30, 2011
you guys dont know ayo, do you find out about him, he is callled the guitar boy, he was bad and then turned a pastor, try it , he is the apostle paul that wrote the bible, find out and stop ranting,
Re: Islamic Banking: Oritsejafor Replies Sultan! by paddylo1(m): 8:43pm On Jul 30, 2011
Barkono:

@ Olumide
Here are the holes : "let it also be known that we are not against islamic banking per se, " Contrast this with ", this is in addition to a proposed establishment of a sharia council of experts to be based at the CBN to monitor the operations of the islamic banking and we asked, is this what operates in all the countries before the introduction of islamic banking as against other non-interest banking" I must say, that this man is confused. How do you manage an institution that is out to benefit the generality of the populace without having experts/consultants? In the UK., the islamic bank of britain has a sharia advisory committee, which advises the central bank governor. And it is called Sharia Supervisory Committee. See www.islamic-bank.com/sharia-finance,  It is therefore disheartening that the CAN president, whom we assumed to be well travelled and knowledgeable, will speak to the press without making research. And he said 'we have continued to frown at the way the CBN governor who is paid with taxpayers money to be championing islamic banking, " This is crazy. Who do investors look up to on matters like this before investing their dough? Does he think the 25billion naira, they are depositing will not come with some price? I doubt if the CBN, will box the 25billion naira, just for safe keeping.    

2. In other interviews, he brought the issue of OIC, the ajami (arabic) letters on the naira notes. He went further to say that the removal of the ajami on the smaller notes by Soludo, has been brought back bY Sanusi. I wonder if this man handles Nigerian currencies at all. I didn't see any ajami on our smaller denomination. If this man has an issue with Islam, then the Sultan is corrrect when he said what he said earlier.
On the issue of Boko Haram, the CAN president was in the news supporting the Niger Delta militants, in their heydays. The Sultan as a former intelligent officer knows exactly what he is saying.
I think the CAN has made a big mistake by nominating this Oritseajaifor of a man. He doesn't think before he speaks. He should have studied the situation before talking. Thank God he said it himself, that the Sultan has finally spoken. But the Sultan was consulting and thinking before he spoke.  That is sign of good leadership.
Lest we forget, this CAN president's wife is managing eagle flight microfinance bank, in warri. A bank that is neck deep in usury. How holy is he then?  

[b]
U are being mischevious here. . U say the Islamic bank of Britain has an advisory council that advises the Central bank of britain
Fine but this is not what sanusi is proposing. Sanusi is going the opposite way, by having a shariah advisory council in the Nigerian CBN
This is patently unconstitutional. .again let the islamic bank set up whatever advisers it wants. .the CBN should not be recruiting imams,cause its not a religious body

Secondly u talk of OIC and Arabic on the naira. . well are the Arabic not still there and is Nigeria still not a member of OIC. , SO The CAN president stil has a duty to talk about it. Why has the CBN governor not deemed it fit to remove the Arabic on the Naira and replace it with Nigerian Languages. Isnt it madness?

Thirdly the MAD sultan comes out and supports Boko Haram and u cheer him on. . Intelligience officer my foot.
I f he has any clues on who is bombing the North he should come out and say it or just shut up. . .
Have u even been to sokoto,the place is a hellhole. . these ppl just have an exagerated sense of importance. .sultan of sokoto. . who gives a darn what u think. .rubbish[/b]
Re: Islamic Banking: Oritsejafor Replies Sultan! by Adeomoayo(m): 9:01pm On Jul 30, 2011
we should ask Sanusi a question, what does he has in mind? for i believe that he has something at the back of his mind.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Cypost: 9:09pm On Jul 30, 2011
Its neither here nor there
what impact have sharia law made to the life of average muslin some of whom vigorously defended and became heroes then -remember Yerima. Did the law exterminate crimes and other social vices in their respective states Did it stop the politicians in those state from looting their state dry

To my mind, the noise about Islamic banking is unnecessary. It is lest on our problem in Nigeria neither is it the magic wand Sanusi requires to halt the falling value of naira and sundry fiscal economic challenges

On CAN president position I agree with him on the fact the product should have been NON INTERESt BANKing given the secular nature of our society and mutual suspicion that exist amongst groups.

People are quick to refer to UK and USA but fail realize that Nigeria copy wrongly, British police obviously don't operate like Nigeria police- Egunje  . grin

Nonetheless, the bank is welcomed if it is that MAGIC WAND tongue
Re: Islamic Banking: Oritsejafor Replies Sultan! by Aderupoko2: 9:22pm On Jul 30, 2011
Sanusi Lamido is a talkative.We've never had a CBN Governor so loud.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Nobody: 9:56pm On Jul 30, 2011
Perhaps the 'daftest' argument I've heard since this Islamic banking debate started is: "If Islamic Banking operates in the UK (and a few other Westerm countries) then why not in Nigeria"? This is totally imbecilic. Every country has its own socio-political realities and peculiarities. If father and son can both be president (within a decade apart from each other) in the US i.e. George Bush Snr and Jnr, then why not in Ngeria? ? ? Why can't GEJ hand over to a fellow Bayelsa man in 2015? ? ? If same-sex marriage is permitted in the UK, then why not in Nigeria? People need to stop luxuriating in their own s.t.u.pi.di.ty.

Nigeria is NOT the UK; neither is it Saudi Arabia. We have our own peculiar nature and peculiar problems. We are an artificial federation brought together by a marriage of (in)convenience. The different ethnic groups and religions view each other with perpetual suspicion. There is permanent tension and mutual distrust between the two dominant religions and the major ethnic groups. This is made worse by the FREQENT violence perpetrated by Muslims against Christians, and the relentless quest by Muslims (especially in the northern part of the country) to force their religious doctrines down the throats of non-muslims (as evident in the introduction and forceful implementation of Sharia law in some northern states in spite of the presence of Christians in such states).  Deliberately introducing divisive policies and issues such as this Islamic Banking nonsense would only exacerbate the already bad tension between the religions and ethnic groups in the country. How much common sense does anyone need to understand this simple fact? Comparing Nigeria's socio-political structure to that of the western world only when it suits one's selfish purposes is a very pathetic thing to do. The fact that Islamic banking exists in the UK does NOT necessarily mean that it should in Nigeria. Both countries have different realities and very different levels of social, economic and political development.
Re: Islamic Banking: Oritsejafor Replies Sultan! by jmaine: 10:17pm On Jul 30, 2011
proO1:

Perhaps the 'daftest' argument I've heard since this Islamic banking debate started is: "If Islamic Banking operates in the UK (and a few other Westerm countries) then why not in Nigeria"? This is totally imbecilic. Every country has its own socio-political realities and peculiarities. If father and son can both be president (within a decade apart from each other) in the US i.e. George Bush Snr and Jnr, then why not in Ngeria? ? ? Why can't GEJ hand over to a fellow Bayelsa man in 2015? ? ? If same-sex marriage is permitted in the UK, then why not in Nigeria? People need to stop luxuriating in their own s.t.u.pi.di.ty.

Nigeria is NOT the UK; neither is it Saudi Arabia. We have our own peculiar nature and peculiar problems. We are an artificial federation brought together by a marriage of (in)convenience. The different ethnic groups and religions view each other with perpetual suspicion. There is permanent tension and mutual distrust between the two dominant religions and the major ethnic groups. This is made worse by the FREQENT violence perpetrated by Muslims against Christians, and the relentless quest by Muslims (especially in the northern part of the country) to force their religious doctrines down the throats of non-muslims (as evident in the introduction and forceful implementation of Sharia law in some northern states in spite of the presence of Christians in such states).  Deliberately introducing divisive policies and issues such as this Islamic Banking nonsense would only exacerbate the already bad tension between the religions and ethnic groups in the country. How much common sense does anyone need to understand this simple fact? Comparing Nigeria's socio-political structure to that of the western world only when it suits one's selfish purposes is a very pathetic thing to do. The fact that Islamic banking exists in the UK does NOT necessarily mean that it should in Nigeria. Both countries have different realities and very different levels of social, economic and political development.



Post Affirmed to be on track . . . Nice one 
Re: Islamic Banking: Oritsejafor Replies Sultan! by ogbomo1(m): 10:18pm On Jul 30, 2011
proO1:

Perhaps the 'daftest' argument I've heard since this Islamic banking debate started is: "If Islamic Banking operates in the UK (and a few other Westerm countries) then why not in Nigeria"? This is totally imbecilic. Every country has its own socio-political realities and peculiarities. If father and son can both be president (within a decade apart from each other) in the US i.e. George Bush Snr and Jnr, then why not in Ngeria? ? ? Why can't GEJ hand over to a fellow Bayelsa man in 2015? ? ? If same-sex marriage is permitted in the UK, then why not in Nigeria? People need to stop luxuriating in their own s.t.u.pi.di.ty.

Nigeria is NOT the UK; neither is it Saudi Arabia. We have our own peculiar nature and peculiar problems. We are an artificial federation brought together by a marriage of (in)convenience. The different ethnic groups and religions view each other with perpetual suspicion. There is permanent tension and mutual distrust between the two dominant religions and the major ethnic groups. This is made worse by the FREQENT violence perpetrated by Muslims against Christians, and the relentless quest by Muslims (especially in the northern part of the country) to force their religious doctrines down the throats of non-muslims (as evident in the introduction and forceful implementation of Sharia law in some northern states in spite of the presence of Christians in such states).  Deliberately introducing divisive policies and issues such as this Islamic Banking nonsense would only exacerbate the already bad tension between the religions and ethnic groups in the country. How much common sense does anyone need to understand this simple fact? Comparing Nigeria's socio-political structure to that of the western world only when it suits one's selfish purposes is a very pathetic thing to do. The fact that Islamic banking exists in the UK does NOT necessarily mean that it should in Nigeria. Both countries have different realities and very different levels of social, economic and political development.




just spot on, sanusi has become a nollywood celebrity, while the suntan bloke is the director  grin
Re: Islamic Banking: Oritsejafor Replies Sultan! by igbogolo: 10:28pm On Jul 30, 2011
proO1:

Perhaps the 'daftest' argument I've heard since this Islamic banking debate started is: "If Islamic Banking operates in the UK (and a few other Westerm countries) then why not in Nigeria"? This is totally imbecilic. Every country has its own socio-political realities and peculiarities. If father and son can both be president (within a decade apart from each other) in the US i.e. George Bush Snr and Jnr, then why not in Ngeria? ? ? Why can't GEJ hand over to a fellow Bayelsa man in 2015? ? ? If same-sex marriage is permitted in the UK, then why not in Nigeria? People need to stop luxuriating in their own s.t.u.pi.di.ty.

Nigeria is NOT the UK; neither is it Saudi Arabia. We have our own peculiar nature and peculiar problems. We are an artificial federation brought together by a marriage of (in)convenience. The different ethnic groups and religions view each other with perpetual suspicion. There is permanent tension and mutual distrust between the two dominant religions and the major ethnic groups. This is made worse by the FREQENT violence perpetrated by Muslims against Christians, and the relentless quest by Muslims (especially in the northern part of the country) to force their religious doctrines down the throats of non-muslims (as evident in the introduction and forceful implementation of Sharia law in some northern states in spite of the presence of Christians in such states).  Deliberately introducing divisive policies and issues such as this Islamic Banking nonsense would only exacerbate the already bad tension between the religions and ethnic groups in the country. How much common sense does anyone need to understand this simple fact? Comparing Nigeria's socio-political structure to that of the western world only when it suits one's selfish purposes is a very pathetic thing to do. The fact that Islamic banking exists in the UK does NOT necessarily mean that it should in Nigeria. Both countries have different realities and very different levels of social, economic and political development.




Thank you o jare!
Re: Islamic Banking: Oritsejafor Replies Sultan! by Nobody: 10:51pm On Jul 30, 2011
Akanbi, do tink u wil benefit frm d islamic bankin? U r yoruba d hausa man wil deny u dat u r nt a true muslem, animal. Am in d core north n hav C where d slaughta ur yoruba muslem during dis violance. Dot b deceived. Shine ur eye.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Nobody: 10:56pm On Jul 30, 2011
1025, u dot knw d consequency of allowin dis islamic bankin. U r in imo bt we dat r in d north hav 4c d end result. So beta close ur oha n bita leave mouth.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Nobody: 11:05pm On Jul 30, 2011
Ogbomo1, tank u 4dat enlightment. Dese animals wil neva undastand dat, bcoz dey hav been drinkin dis rubutu alau n hav been given ram blood, silly set of pipo.
Re: Islamic Banking: Oritsejafor Replies Sultan! by murtalaa(m): 11:41pm On Jul 30, 2011
people like this shameless pastor deserve no reply. how the hell do you attack someone and expect him to not to defend himself. is it not your senseless myopic and bigoted rantings about islamic banking that prompted him to defend the cbn policy in the first place? u attacck sanusi and like a gentleman he came out and defended the policy only for you to come behind and accuse him of championing the cause of islamic banking. how hypocritical of you,

like hell you are not against islamic banking. when the issue first surfaced, true to your nature of not looking before leaping you vehemently opposed it and after facts were revealed including list of countries that operate it you realised you are fighting a loosing battle. A gentleman would have apologised for wrong perception but no this guy is busy pulling excuses off air thereby deepening the hatred and mistrust that already exist between muslims and christians in this country. pathetic! use your head and be objective for once. try, its not a rocket science.
Re: Islamic Banking: Oritsejafor Replies Sultan! by creazor(m): 12:09am On Jul 31, 2011
I'm very sorry for as many as have said nonsense words about the man of God.
If the Christians start to create CHRISTIAN BANKS, is it not too evident that the whole nation will turn to them? Or are u not aware that there are far much more Christians than muslims in Nigeria?
That's not the point anyway. The point he is trying to make is that there should be a clearly defined guideline for establishment of non-interest banks in general!!!!
Re: Islamic Banking: Oritsejafor Replies Sultan! by emmatok(m): 12:10am On Jul 31, 2011
murtalaa:

people like this shameless pastor deserve no reply. how the hell do you attack someone and expect him to not to defend himself.  is it not your senseless myopic and bigoted rantings about islamic banking that prompted him to defend  the cbn policy in the first place? u attacck sanusi and like a gentleman he came out and defended the policy only for you to come behind and accuse him of championing the cause of islamic banking. how hypocritical of you,

like hell you are not against islamic banking. when the issue first surfaced, true to your nature of not looking before leaping you vehemently opposed it and  after facts were revealed including list of countries that operate it you realised you are fighting a loosing battle. A gentleman would have apologised for wrong perception but no this guy is busy pulling excuses off air thereby deepening the hatred and mistrust that already exist between muslims and christians in this country. pathetic! use your head and be objective for once. try, its not a rocket science.

What should  Oritsejafor be apologising for, did he introduced Sharia Banking.

Why can't you Muslims separate Religion from State.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Beaf: 12:56am On Jul 31, 2011
proO1:

Perhaps the 'daftest' argument I've heard since this Islamic banking debate started is: "If Islamic Banking operates in the UK (and a few other Westerm countries) then why not in Nigeria"? This is totally imbecilic. Every country has its own socio-political realities and peculiarities. If father and son can both be president (within a decade apart from each other) in the US i.e. George Bush Snr and Jnr, then why not in Ngeria? ? ? Why can't GEJ hand over to a fellow Bayelsa man in 2015? ? ? If same-sex marriage is permitted in the UK, then why not in Nigeria? People need to stop luxuriating in their own s.t.u.pi.di.ty.

Nigeria is NOT the UK; neither is it Saudi Arabia. We have our own peculiar nature and peculiar problems. We are an artificial federation brought together by a marriage of (in)convenience. The different ethnic groups and religions view each other with perpetual suspicion. There is permanent tension and mutual distrust between the two dominant religions and the major ethnic groups. This is made worse by the FREQENT violence perpetrated by Muslims against Christians, and the relentless quest by Muslims (especially in the northern part of the country) to force their religious doctrines down the throats of non-muslims (as evident in the introduction and forceful implementation of Sharia law in some northern states in spite of the presence of Christians in such states). Deliberately introducing divisive policies and issues such as this Islamic Banking nonsense would only exacerbate the already bad tension between the religions and ethnic groups in the country. How much common sense does anyone need to understand this simple fact? Comparing Nigeria's socio-political structure to that of the western world only when it suits one's selfish purposes is a very pathetic thing to do. The fact that Islamic banking exists in the UK does NOT necessarily mean that it should in Nigeria. Both countries have different realities and very different levels of social, economic and political development.

This post is endorsed by Beaf. cool
Re: Islamic Banking: Oritsejafor Replies Sultan! by abes(m): 1:00am On Jul 31, 2011
It is obvious this conflict is not between Christians and Muslims but between those that can think outside a box and those that cannot. You guys need to educate yourself more concerning this issue.

This might help. . . http://www.livestream.com/saharareporters/video?clipId=pla_8cf03959-f010-4ef6-a9fb-f31784567178
Re: Islamic Banking: Oritsejafor Replies Sultan! by mbulela: 1:58am On Jul 31, 2011
i wish we could discuss this issue without religious bigotry on both sides.
Re: Islamic Banking: Oritsejafor Replies Sultan! by lavante(m): 2:25am On Jul 31, 2011
@barkono
@reindeer
or wtf dey call u.
U both are idiots and blockheads.
Thats all.
Re: Islamic Banking: Oritsejafor Replies Sultan! by knuckbuck(m): 3:47am On Jul 31, 2011
Religion is the problem of Nigeria. Religion has brought nothing but death and destruction to Nigeria. There is hate and distrust now all in the name of religion. Someone should please tell me one good thing religion has brought to Nigeria. All I see all around me is hate, distrust, death, destruction, brutality and underdevelopment (due to destruction) all in the name of religion. Islam and Christianity are the two worst things to ever happen to Nigeria. All our forefathers that fell to these religions will be weeping in their graves right now. Separate Religion from state affairs and Nigeria will have overcome all her billion and one problems (Corruption, robbery, destruction etc). All crimes are buried and go unpunished in the name of religion. SHAME.
Re: Islamic Banking: Oritsejafor Replies Sultan! by epapa(m): 6:53am On Jul 31, 2011
There is no need for all this bickering. personally i don't have a problem with it but certain things need to be clarified.
The way i see it, islamic banking is a type of non interest banking. There should be well spelt out guidelines for the establishment of non interest banks not just for islamic banks. The whole issue has been about the fear of being sidelined by one group of people but if everyone sees that they can open their own form of non interest bank then alot of this problem will die down. The cbn governor should try to speak non interest banking rather than just islamic banking as that will put a lot of minds at rest.
CAN should come up with a christian banking proposal and see if it is rejected before attacking the whole idea.
lastly, i am a pastor's son but let's use our heads and not just our hearts.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Danni2: 7:01am On Jul 31, 2011
PSALM 15:1:

LORD, who may dwell in your sacred tent?
  Who may live on your holy mountain?

2 The one whose walk is blameless,
  who does what is righteous,
  who speaks the truth from their heart;
3 whose tongue utters no slander,
  who does no wrong to a neighbor,
  and casts no slur on others;
4 who despises a vile person
  but honors those who fear the LORD;
who keeps an oath even when it hurts,
  and does not change their mind;
5 who lends money to the poor without interest;
  who does not accept a bribe against the innocent.

Notice what the bible says in verse 5 "who lends money to the poor without interest", Now that is (christian) non-interest banking right there in the Bible.

But the point here is that ( and this point has been made several times but let me make it again because that is where the problem lies but people chose to ignore it for their own reasons) in a volatile socio-political and multi-religious country like Nigeria (where a muslime secretary had to be appointed to balance a christian secretary to the Oputa Panel); just like Miss World pageant became a deadly issue in Nigeria so much so that it had to be relocated; Anything religious, repeat anything religious has to be treated with absolute care and sensitivity. So, comparing Nigeria with Britain and America which have Islamic Banking is just being dangerously naive. Wait until there is a miss world in Kaduna or even Abuja withhout "war" then you can compare U.S, Britain etc with Nigeria and ask the CBN gov. to champion Islamic Banking the way Sanusi is doing now.

The intention of Sanusi might be good, but the time has not come yet for this kind of "religious Banking."

In the light of the foregone, therefore, if for example christians want to operate a non-interest banking (which is biblically in line with Psalm 15:5), they would be naive to use the name "Christian Banking" and insist that the CBN should establish a christian supreme council in the CBN to advice it on how customers should adhere to christian tenets, like "no polygamous person would be allowed loan by the Christian Bank, etc. If a Soludo, a christian promotes this kind of christian banking as a central bank governor the way Sanusi is going about it, i'm not sure how Nigerian muslims will see it. Now, that is the issue.

So, the issue here is that of a delicate balancing act for Sanusi, you are under pressure (obviously) to promote Islamic Banking in a Volatile socio-political and religious country like Nigeria (Not Britain, U.S etc). The word is caution.

My advice here is that Sanusi should reach out to all stake holders in this issue (Christian and Muslim religous leaders) and discuss the details with them and come to an amicable decision rather than ignoring the red flag that is clearly up now. No one should sacrifice a whole nation for a "religious Bank."
Re: Islamic Banking: Oritsejafor Replies Sultan! by igilarity: 7:21am On Jul 31, 2011
More like you need to take your time to read his post and post the holes you found and why they are holes in the argument and not ones in your head!!!

Gbam!!
all along, they have never responded to issues raised by Oritsejafor, they've just been making empty noise and raising holo sentiments. now Oritsejafor has raised the same questions again, answer those questions, allay fears and let the matter rest once for all. Oritsejafor like any other Nigerian for that matter, is a stakeholder in CBN because it is Nigerian CBN not northern CBN.
Re: Islamic Banking: Oritsejafor Replies Sultan! by member479760: 8:03am On Jul 31, 2011
now, the issue here is that the islamic banking will die without funds from the oil money, one can see that he (Sanusi) is using the oil money to sell the islamic banking which is just the beginning, can anyone imagine if his type is the present presido then the national resources will be at work by now.
Re: Islamic Banking: Oritsejafor Replies Sultan! by abes(m): 8:11am On Jul 31, 2011
You guys should stop complaining angry angry angry  educate yourself please. Sanusi has answered all your questions

This will help. . . http://www.livestream.com/saharareporters/video?clipId=pla_8cf03959-f010-4ef6-a9fb-f31784567178

And please tell your religious leaders to start paying their 'TAX', until then, they have no business complaining about the Nigerian economy. thank you.
Re: Islamic Banking: Oritsejafor Replies Sultan! by POTUT(m): 8:14am On Jul 31, 2011
Conventional Banks have made profit over the years by charing interest on Loans and Advances.

The CBN now deems it fit to introduce another style of banking that will not charge interests on loans, but instead share the profit of the investment with the borrower.

Okay, I figure this will require a lot of resources and checks to be put in place to ensure:

1. That the borrower actually uses the money for the proposed investment

2. That the borrower makes honest returns to the bank, so that the sharing can begin.

3. That the investment does not crumble, because if it does, the non-interest Bank loses all!

Hmmm, in Nigeria, we do not have such competence on the part of banks. The absence of basic infrastructure (Electric Power, Database Integrity, Searchable and verifiable Address system, traceable money movements, etc)

Something is not just right about the emergence of non-interest banking in Nigeria!

Time will tell us what, is wrong!

As for the Sultan, I have been following his comments on certain national matters, he certainly falls short of criticizing/condemning the obvious.

CAN should leave the matter alone, let the National Assembly uphold the constitution. CAN is wasting breathe.

As christians, let us continue to focus on those things which will rob us of christianity, not on the things which seem to rob us of recognition.
Re: Islamic Banking: Oritsejafor Replies Sultan! by Nobody: 9:36am On Jul 31, 2011
WE SAY NO TO ISLAMIC BANKING, the Era of deceiving the South by Almajiris is over, No more free Oil money for Jobless Mallams
Re: Islamic Banking: Oritsejafor Replies Sultan! by ganibel: 9:53am On Jul 31, 2011
Crisis Association of Nigeria (CAN)

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