₦airaland Forum

Klinee:
Detrimental in the sense that if you fail Yoruba language as a subject you may repeat the class.

whatba strange reasoning!

so that is detrimental?

why must you fail?

were you not taught?

I know you will eventually say learning English is detrimental because if you fail it you will repeat.

lag

Flawlessangel:
U think davido and pato is more popular than Psquare? U must be high on cheap drugs

In your mind.

Las gidi

priceaction:
Tekno and psqure are the baba of airwaves across the continents unless you haven't travel wide. Even on their YouTube comments, there are more foreign fans than locals. There was a day one abudhabi station were playing psquare contiously for hours an you will think something has happened to them.

Well psquare is manageable.

Johnnyhoo:
Modified....
Coming from a Senator caught with prostitutes.
Some of our leaders are power drunk, this is a spite on those you're representing. Why will a Senator utter this kind of careless statement? Is it because of the peanuts you're giving your followers whom you've impoverished as a result of your poor leadership? Or is it because of the Almajiris that come for alms? It's high time some Northerners stopped worshiping these kind of leaders because I believe he knows the set of people(give them peanuts and they will shout rankadede Alhaji till next time he's going to give them peanuts) he's representing for him to utter the statement above. This statement alone is enough to call off his bluff and teach other power drunk lessons that power belongs to the people. How I wish his people can vote him out. Well, I won't blame you, I'll blame those who will vote for you again come 2019.

It can only happen in the north.

What is tekno and psquare doing there.
wizkid,davido and patoranking.

FACT CHECK: Do
Sukuk bonds lead
to Islamisation?


Last week, the federal government issued a seven-
year N100 billion Sukuk bond. Patience Oniha,
director general of the Debt Management Office
(DMO), said proceeds from the bonds would be
used to finance the construction of 25 major roads
across the six geopolitical zones in the country.
Nigerians were still trying to study and understand
the concept when the Christian Association of
Nigeria (CAN) announced its opposition to it . The
religious pressure group said the introduction of the
bond was “a violation of the constitution”.


But the Muslim Rights Concern (MURIC) accused
CAN of playing up sentiments, saying Sukuk is
purely for business purposes. The Nigeria Supreme
Council for Islamic Affairs (NSCIA) also faulted the
claims made by CAN.


FIRST, WHAT IS SUKUK?


Sukuk is an Arabic term which simply means
“certificates”. According to the rules and
regulations of the Securities and Exchange
Commission, 2013, it refers to “investment
certificates or notes of equal value which
evidences undivided interest/ownership of tangible
assets, usufructs and services or investment in the
assets of particular projects or special investment
activity using Shariah principles and concepts and
approved by the SEC”.


It is a form of Islamic banking and its securities
are structured to comply with Sharia by paying
profit — not interest — generally by involving a
tangible asset such as land in the investment.


CLAIM NO. 1: SUKUK VIOLATES THE
CONSTITUTION

According to CAN, “by promoting a sectional
religious financial policy (in the name of Sukuk),
the government is violating both the spirit and the
letter of section 10 of the constitution.”


Section 10 of the 1999 constitution simply states
thus: “The government of the federation or of a
state shall not adopt any religion as state religion.”
While the constitution was not specific on what
constitutes a state religion, it also did not exclude
the option of the federal government taking up a
form of Islamic financing in its financial operation.
The section 313(6) of the Investments and
Securities Act 2007 , however, gives room for a new
provision to be made which may in effect
accommodate the introduction of Sukuk.


The section states that “notwithstanding the
provisions of subsection (1) of this section, the
commission may, from time to time, amend or
revoke rules or regulations for purposes of giving
effect to the provisions of this Bill and the rules
and regulations made thereunder”.


The subsection 1 in question states that SEC “may,
from time to time, make rules and regulations for
the purpose of giving effect to the provisions of
this Act and may in particular and without prejudice
to the generality of the foregoing provisions, make
rules and regulations; to alter or modify, from time
to time, in consultation with the minister, the
provisions of the Second Schedule to this Act
[among other provisions]).”
However, CAN is seeking that this section of the
act be repealed.

CLAIM NO. 2: SUKUK VIOLATES IMF RULES


There is also the question of the backing of the
International Monetary Fund (IMF) on the
operational basis of Sukuk in non-Islamic states/
countries.


CAN quoted the IMF as saying the issuance of
Sukuk by non-Islamic states/countries violates the
country’s religiosity and as such “a breach of the
religious neutrality of the government of such
state”.


CAN did not make reference to where it got its
information from but on the IMF website , the
organisation said the global issuance of Sukuk is
“expanding with remarkable international reach of
issuers and investors and that the trend is expected
to continue, driven, in particular, by strong
economic growth countries with large and relatively
unbanked, Muslim populations”.


The financial body also said “Sukuk resembles
public-private partnership financing whereby
investors finance the assets and then own them
which leads to real securitisation (a process of
pooling/repackaging the non-marketable assets into
tradable certificates of investment) after which
they transfer them at maturity to the government”.
The question then is: are there implications of
Islamic financing of these roads and their
subsequent ownership by the Sukuk holders? CAN
fears that the Islamic financial institutions will own
the 25 major roads after construction. There is yet
no answer to that fear.


A study carried out by a team of IMF staff on
Islamic financing showed that issuance of Sukuk
around the world has increased significantly in
Africa, East Asia and Europe – and several non-
Muslim countries.



CLAIM NO. 3: SUKUK WILL LEAD TO
ISLAMISATION


CAN also raised the alarm that Sukuk will bring
about “two laws for one nation as it shall also be
construed in accordance with the Islamic law of
Mu’amalatmaliyyah in addition to the established
laws of Nigeria”.


However, looking at the non-Muslim countries that
have issued sovereign Sukuk after Britain became
the first country outside the Islamic world to do so
in 2014 , CAN might find it difficult to make
a strong case. These countries are Hong Kong,
Kenya, Germany, Luxembourg, South Africa, Italy,
Tanzania, Russia, China, Singapore, France, Japan,
South Korea, among others. They operate the bond
with their official laws intact – they have not been
Islamised.
The problem, however, is that some of these non-
Muslim countries practising Islamic financing do
not have Islamic securitisation law and there is a
world of difference between Islamic and
conventional securitisation concepts.


A study carried out by a team of economic experts
on “legal and regulatory issues in issuing Sukuk in
Muslim-minority countries” in Hamad Bin Khalifa
University, Qatar, showed that there are existing
conflicts in the application of Islamic securitisation.
Another issue that needs to be taken into
cognisance is the fact that the funds raised from
Sukuk issuance must be used ONLY for ethical
purposes, according to information on the DBO
website .


That is to say that whatever projects the
government intends to use funds generated from
Sukuk for must be ethical.
But then, is there really a clear definition of the
adjective “ethical”?


CONCLUSION: CAN has strong claims on keeping
Nigeria’s secular nature intact, especially as the
controversy over Nigeria’s membership of the
Organisation of Islamic Conference (OIC) in 1986
remains a sore point. Nevertheless, there is no
conclusive evidence that Sukuk will lead to the
Islamisation of Nigeria — or that it violates the
constitution. One question needs to be answered
though: will the Islamic financial institutions control
the roads to be constructed with the bond in order
to recover their money under the PPP-like
arrangement?


Follow us on twitter @thecableng


https://www.thecable.ng/fact-check-issuance-sukuk-ploy-sell-nigeria-islamic-nations

Sunnymatey:
So what's the guy problem with lgbos? is it only lgbos that are clamouring for restructuring?

Its only igbo supporting Atiku APC,fayosePDP,biafra,nnamdi kanu at the same time.

This People just want to expose igbo people hypocrisy:


They will embrace the VP post to become northern slaves something they've accused other tribe of

They will forget Nnamdi kanu


If the next team presido and VP are not GEJ candidates they will forget that GEJ was their heroe.


They will forget biafra struggle,people will now confirm that biafra struggle intensification is all about their candidate and party election loss in 2015

When will they approve death sentence for looters.

Dog knows how to feed its child but knows how prey on antelope's own.

HunterofPigs:
Who is this foool? Hoe many ibo aka Pigs and Idiots despite your high population in USA even made it to the White House ever.

The gentleman this idiota refers to was in a committee that was disbanded by Trump. A committee of CEOs. Trump heard that members of the committee are quitting so he had to disband it altogether. Meanwhile, the gentleman still remains the CEO of his company.

How more stupid can ibos be? Do you lack comprehension or are you just bitter about everything?

They are very unreasonable,irritating and unintelligent with their frustrated life and inferiority complex.

Its very obvious that they are living a frustrated.

Asidethetruth:
Slave mentality

The response is typical of a slave under hausa fulani watch...

Yorubas are saint but they are sly and brood of chameleon in nature....

Ask Trump how he do away with his special assistant...a yoruba man.....he cant bear the snitch....

Who is teaching hate if not hausa and yoruba....

Confirm from ahmadu bello and adeyinka grandson....

God willing and by his grace....we will continue to push until biafra is achieved.

hmmm,igbo people

so ogunlesi was the only man sacked?....that shows igbo have been unhappy with the man's feat all this while.

Exactly,yorubas and Hausas own radio biafra,world headquarters of hate speech.

Only igbo people see Adeyinka grandson as heroe,to yorubas he is a bastard unlike igbo race that backed their cowardly son for calling yoruba pastors demons,igbo women prostitutes,biafrans pigs and idiots and for calling for the killing of pastor kumuyi if he steps on biafran soil.

By God grace,biafran will be achieved.I wish i'm the president,I will grant you buafra on a Platter.It will be a good radiance to a bad rubbish

Lawlahdey:
What tribe is that?

YORUBA

6.HE IS AN AFONJA.....haters can die

Lawlahdey:
Oh, my bad.

Yeah,A staunch afonja,from the sophisticated tribe that own 5 of the universities above, lagos,ogun and Ibadan

Every bit of the sentence is an abuse
Dirty
looking

IGBO,tufiakwa

smoker

Klinee:
But how can a State enact a law that is detrimental to those who are non Yoruba speaking lagosians?

Hope you will not repeat this rant is igbo is made compulsory in Anambra

And if I may ask,how is that detrimental?

Lawlahdey:
I guessed so.
You are Fulani?

I'm a staunch Afonja.

BluntBoy:
I didn't find UI beautiful.

Exactly,beauty lies in the eyes of beholder.
but when last did you go to the premier university?

To me,U.I is beautiful with a very serene environment.But not the most beautiful.

Lawlahdey:
I do not understand a thing.

What he typed has no meaning.I understand arabic.

Asidethetruth:
Nigeria is hostile to average igbo man
But
Igbos are not like that.....we dont live a life of retaliation.......

Victim mentality!
And you dont leave a life of retaliation that is why igbo children were taught to hate yorubas in response to twisted account of civil war.

Master and slave mentality at the same time!

As long as every condition is not favourable for an average Ibo man to make use of his greed and dominate others he will interpret it as maginalization,envy and hostility.

An average igbo man will not be comfortable and perceive the bill as hostility until the state assembly replace the yoruba in that bill to igbo.

Asidethetruth:
Every of their plan against igbo makes them stronger.....

Are igbo people feeling threatened?


You can go and replicate the same law in Anambra to retaliate on yorubas.

Klinee:
Lagos is a multi-ethnic languages State not just Yoruba and as a Nigeria national, if Yoruba language is made compulsory the same should also be done to other ethno languages that makes up Lagos as a state.

Mr man,its just yoruba.Even in yorubaland if your yoruba dialect is not lagos-like they will say you are local!.Go and tell Oba elegushi,Oba epe ,Oba Ajah the ijebus,aworis,egbas and eguns this your rants and get the beating of your life.

The only language that make up lagos as a state is yoruba language!..others are immigrants.There are people that are indigenous to lagos and call lagos hometown and their village as igbo people will call it and their language is yoruba!

Is like saying every language of immigrants should be made compulsory in new York schools like English language because new york is cosmopolitan.

" Formerly called University of Ife, OAU is the best
Nigerian University in everything on the surface of
this earth not just structure wise."


OAU students can make noise

A Nigerian university is among the top 800 in the world and that university is not OAU.

the OP has provided a thread for yIGBO people to masturbate on

Nigerians or Igbo people on twitter

The great fatima college ikire!

Afam4eva:
I hope they don't get tagged a terrorist organization.

As long as they dont call their tribeswomen prostitutes,ther tribesmen pigs and Idiot,call other tribes zoo,call other tribes pastor demons,order to kill pastor kumuyi,solicit for arms in USA,threaten to burn down the zoo,threaten to cut down the president head and dont look for hausa in th bus to kill.

MrBigiman:
Maybe u are one of Paul Boys, don't come here and say thrash, I know my onions when it comes to music. Listen to B2K, if u where in that Era, Omarion and Lil Fiz where doing the most singing, they both thought they where the bedrock and went solo, today Omarion is largely unsuccessful, while Lil-fiz not in the limelight anymore. People only accepted B2K because they where young teenagers with a different perspective. So forget about praise singing for Paul.

The same thing with plantashium boyz.

blackface wrote most of their songs

everyone thought faze was the best.

non of the two blow pass 2face after them go solo.

NigerDeltan:


Nigerians abi Yoruba people reacting?

Mttcheeew

You mean Igbo people support how he is taking advantage of two igbo brothers fighting to promote PDP.

well,Igbo like to be used by these selfish politician.Its not different from the way fayose and FFK(smart afonjas) have been using igbo race for PDP

hilroy:
Have your erected Statue of the real coward Azikiwe. The man that left his kinsmen during the war to asslick Hausa-Fulanis

And ojukwu tha ran away from war and came back to come to asslick the hausa fulanis by contesting as common senator not even president under hausa fulani party of NPN and still loss woefully

This na true story,no be ordinary tribal bashing!