₦airaland Forum

He is neither the first nor second suicide bomber of Nigeria

Is it the role of the Central Bank (CB) chief of a secular country as Nigeria to be promoting "Islamic Banking" to the populace? I would have thought that those who want such bank (but indeed any bank) would seek the license, apply for it, set it up and get it rolling on their own?

Will the CB help me in establishing a ZnO Bank by promoting it for me? If so, will other bankers not feel marginalized?

I thought the duty of the CB is to regulate all banks and not be in the business of establishing or promoting any specific bank, especially a bank with religious inclinations, but in fact any bank at all?

I thought I studied Economics 101 few years ago, but alas, it appears that so much water has crossed under the bridge since then.  How outdated I have become, without even knowing it.

Can anyone educate me on what I am missing out as to the current role of a CB governor?


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Idea of Islamic banking is ill-conceived -CAN chairman

Written by Isaac Shobayo, Jos
Monday, June 27, 2011

The Chairman of the Christians Association of Nigeria (CAN), North-Central, Reverend Yakubu Pam, has stated that the idea of Islamic Banking in Nigeria is ill-conceived and called on the Federal Government to prevail on the Governor of Central Bank, Mallam Sanusi Lamido, to shelf the idea.



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Speaking with the Nigerian Tribune in Jos, the CAN chairman, who said most of the reasons adduced by the CBN governor were not cogent enough to warrant the introduction of Islamic Banking in Nigeria, said anything that had to do with religion at this material time in Nigeria should be avoided for the sake of peace in the country.

"The timing is wrong; from official angle it is also wrong. It is like inviting more religious problems for ourselves in this country, if we look at it critically, religion has never been a unifying factor for Nigeria despite the fact that the tenets of the two major religions in the country are centred on peace."

"The issue of religion is sensitive in Nigeria, most of the problems we are having in this country centre around religion or rather being linked with religion. So the CBN governor, Mallam Lamido, should consider the peace and unity of the country rather than focusing on the economic benefits, the peace and unity of this country supersede any other interest" he said.

Reverend Pam pointed out that the fact that Islamic Banking was working in other parts of the world did not mean that it would succeed in Nigeria, adding that the stereotype of Nigeria about religion was not the same with countries being used as yardstick.

Non-interest banking can be used to finance terrorism -Experts warn

Finance Monday, June 27, 2011

By Babajide Komolafe

The newly introduced non-interest banking especially Islamic banking, can lead to financing of religious fanaticism and terrorism, says economic experts.



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"Nigeria has, and continues to suffer from religious fanaticism and sectionalism. With the financial systems still suffering from the consequence of, amongst other factors, weak supervision, the CBN and other regulatory bodies to be charged with supervising Non-Interest Financial Institutions (NIFIs) must be well prepared and trained. Failure in proper regulation of NIFIs might not only lead to financial losses but perhaps financing for religious fanatics and terrorism. This must be prevented by all means", they said in Lagos last week.

This position was contained in a communique issued at the end of a one-day seminar on Repurposing capital: Non-interest Banking in Nigeria, co-sponsored by Apostles in the Market Place (AiMP), a network of Christian professionals and leaders, and BusinessDay Media Limited, publishers of BusinessDay Newspapers.

The communique said: "There should be a shift in focus to Profit & Loss Sharing banking and Faith-Based Financing (FBF), rather than a more narrow definition of Non-Interest Banking (NIB).

"NIB and FBF, if properly regulated and administered, have the potential to transform the economies of underdeveloped communities, hence is a welcome development in Nigeria where on-going banking reforms have made interest-charging deposit money banks more risk averse and perhaps unwilling to venture into virgin frontiers in banking. The unbanked and under-banked in Nigeria will benefit from FBF where risk and returns are shared between provider and user of financing.

There is, however, need for a supervisory framework that recognizes the peculiarities, applicability and potential of FBF including the following: Stimulating grassroots, relationally-based investing (versus debt-based financing),Countering corruption through transparency and other faith-based financing (FBF) principles; Avoiding speculative bubbles and decreasing reckless investing; Avoiding consumer and other debt that is detached from real assets and initiatives.

"The initial (Jan 2011) NIFI framework was limited in its application as it equated NIB to Islamic Banking, in effect, barring potential non-Muslim or non-Shariah-compliant investors and participants from tapping into the benefits of NIB. The framework clearly demanded that NIFI "transacts banking business, etc and commercial activities as well as the provision of financial products and services in accordance with Shariah principles and rules of Islamic commercial jurisprudence."

Message for southern muslims:
To the northern muslims, you are all infidels. That is why try hard as you can (Adegbite and Co.) you can never be head of islam in Nigeria
You see your Ileya moon differently, they see theirs differently
In the last election, Buhari, a northern muslim, refused to yield to the requests of Tinubu, a southern muslim: all because they feel superior to you.
Yet, you dey fall mugu for their antics

I was in Kano in 2001 when I visited a friend serving there
Suddenly riot broke out
Yoruba muslims, Yoruba christians, Igbos and other southern and northern christians were killed
They say you live peaceably with christians in your midst, hence you are not good muslims
They say you southern muslims drink beer and patronize asha-wos, like christians do, so you are for those reasons, not true muslims.
But please take a trip to a place called [b]Trailer Park [/b]along the Port Harcourt-Onne Highway in River State. They come from the North to load fertilizers from NAFCON and petroleum products from the nearby NNPC. There you will see these northern muslims in hundreds who empty beer bottles into their washing kettles used for ablution and drink from it, in deceit of the unwary. You find them sleeping with southern asha-wos on the back of their trailers at night. Ask them, they tell you ''this is southern nigeria, sharia will not catch us here''. They then go back north and pretend all is well and continue with their holier-than-thou attitude.
Did Abacha not die atop Indian asha-wos, as we hear? Yet, to a northern muslim, Abacha is more important than even the holiest of southern muslims.

I pity all these southern muslims who do not want to see beyond their noses.
Sharia Bank? Hm!! They go throw bomb inside the banking hall. Guess who the most bankers in Nigeria are, and thus, who the potential victims would be
They go use your savings buy bomb wey dey go use kill you.
The emphasis on islamic banking is a red flag that should not be ignored
We have had Habib Bank etc; no one cared, because the name does not suggest anything of security interest
From the grapevine, one of the conditions given by the Mullahs in the Middle East to pump in cash is that the name must be ISLAMIC BANK to stamp in the IOC angle to it.

Even the deceit by Sanusi in mentioning that an Igbo man is a shareholder of his sharia bank is lost on so many.
Ask him why he specifically singled out that Igbo man, among 10-15 other shareholders.

Hold your ears and listen up; Sharia is on its way to Ibadan. A word is enough for the wise.

Nayah:
In fact "better choice" wouldn't be the best term as people complain about it ZNO and my vision seems to be like those of a lot of my Nigerian fellows

Nigerian fellows on cyberspace
If I were you I would not trust faceless fellows on cyberspace. They could be ghosts
Ask from real human beings who were there.

Eko Ile:
Is it your ignorant and shallow believe that the beer parlor that was bombed in Nigeria was a christian beer parlor?

Is it your ignorant and shallow believe that the customs building that was bombed today was a christian customs building

Was the independence day bombing and anti christian bombing or was it carried out by Islamic terrorists?


You see how pathetic and dangerously shallow you are?

In a space of 24 h, you and your sharia brothers have set forth two bombing incidences, killing tens. Na so UK muslims dey do am? Useless murderers
Islamic attacks on US and UK may even have some basis (those guys are in Iran and Afganistan fighting islamic terrorists). What is the basis for Nigerian muslims attacking fellow Nigerians in Nigeria?
Look, if you murder yourselves, nobody cares but when you target others, you get the sort of vitriol you are getting now.
Islamic Bank ko, Mohammed Bank ni
Come start am make we see you now
It has been on the pipeline since 2003

• HISTORY: http://www.jaizinternationalplc.com/about_us.html

Jaiz International plc was incorporated on 1 st April 2003 as a public limited company with an authorised share capital of =N= 2.5 Billion (US $18.5 Million) . The main objective is to be an investment holding company to set up non interest institutions such as Islamic Bank, Takaful, Pension Fund Administration etc.

What is holding it back 8 years later? Muhhehhe.

Eko Ile:
Don't you first have to tell us what terrorism in the UK, Nigeria or elsewhere got to do with Islamic banking.


Btw, I ignored your repetitive nonsense about UK Muslims killing UK citizens like Nigeria because I swept it under your know known ignorance and lack of anything and what your are ranting about, but since you are too lazy to utilize google for basic enlightenment, I'll help you.

http://en.wikipedia.org/wiki/7_July_2005_London_bombings


I really do feel sorry for ignorant and shallow people like you, I even feel shamed the I share Nationality with you, clowns like you are a sad reflection of all the ills killing Nigeria.

Cry, cry muslim baby boy:
Thanks for nailing your own coffin and confirming that ya'll are the same.
Please confirm also for me that non-muslims are specifically targeted. Ewu, okuko oji.
Show me also the Christian Bank in Saudi.
If anyone told you I cannot find whatever I am looking for online, and you believe it, then you also believe in the 14 virgins for every suicide bomber.
You be proper obo (monkey), you found one that took place in 2005, whereas you naija muslims kill christians every passing second.

Eko Ile:
But you have issues with Nigerian referring to the Islamic banks in Nigeria as Islamic banks, but the same UK you sited gladly have banks named Islamic bank of UK right inside the UK.

Or is it just that other countries can have Islamic banks and their citizens can take advantages of the benefits and opportunities it presents, but never Nigeria because Nigeria is different?

What is your point apart from the fact that you are a certified ignorant bigot?

Again, ignorant bigots like you are the problem. Nigeria is a messed up country because of backward and caveman thinking people like you.

Buhahahha! Cry, cry muslim baby
I am interested to see where UK muslims kill their fellow citizens like you naija muslims do.

Nayah:
Glad to see I was not the only one who think Miss Bayelsa was the best for this title
Igbos/ Yoruba fight is quite ridiculous seriously

Unfortunately, the judges saw better than you did. Your vision was most likely blurred beyond redemption, viewing all the way from France

RICHIE BOI:
you must be high on something or playing silly.

I am lucid in writing that. No inducement at all.

Seriously, you do not need it for contract positions in the civil service or for ministerial appointments

BTW, how many of your past leaders have a degree and NYSC participation

Some of El-rufai's staff members at BPE or the FCT ministry did not have NYSC; he justified that by putting them on contract basis.

The law is an a.ss than can be manipulated.

Eko Ile:


Islamic Bank Of Britain (IBB)

http://www.islamic-bank.com/


Islamic Banking and Islamic Insurance

http://www.islamic-banking.com/




The problem is not Islamic bank or religion, ignorant and bigots like you are the problem.

I opened your link with the speed of lightening hoping to see where UK muslims killed no muslims
Try harder. Fashola ar.se licker.

Message for southern muslims:
To the northern muslims, you are all infidels. That is why try hard as you can (Adegbite and Co.) you can never be head of islam in Nigeria
You see your moon differently, they see theirs differently
In the last election, Buhari, a northern muslim, refused to yield to the requests of Tinubu, a southern muslim: all because they feel superior to you.
Yet, you dey fall mugu for their antics

I was in Kano in 2001 when I visited a friend serving there
Suddenly riot broke out
Yoruba muslims, Yoruba christians, Igbos and other southern and northern christians were killed
They say you live peaceably with christians in your midst, hence you are not good muslims
They say you southern muslims drink beer and patronize asha-wos, like christians do, so you are for those reasons, not true muslims.
But please take a trip to a place called Trailer Park along the Port Harcourt-Onne Highway in River State. They come from the North to load fertilizers from NAFCON and petroleum products from the nearby NNPC. There you will see these northern muslims in hundreds who empty beer bottles into their washing kettles used for ablution and drink from it, in deceit of the unwary. You find them sleeping with southern asha-wos on the back of their trailers at night. Ask them, they tell you ''this is southern nigeria, sharia will not catch us here''. They then go back north and pretend all is well and continue with their holier-than-thou attitude.
Did Abacha not die atop Indian asha-wos, as we hear? Yet, to a northern muslim, Abacha is more important than even the holiest of southern muslims.

I pity all these southern muslims who do not want to see beyond their noses.
Sharia Bank? Hm!! They go throw bomb inside the banking hall. Guess who the most bankers in Nigeria are, and thus, who the potential victims would be
They go use your savings buy bomb wey dey go use kill you.
The emphasis on islamic banking is a red flag that should not be ignored
We have had Habib Bank etc; no one cared, because the name does not suggest anything of security interest
From the grapevine, one of the conditions given by the Mullahs in the Middle East to pump in cash is that the name must be ISLAMIC BANK to stamp in the IOC angle to it.

Even the deceit by Sanusi in mentioning that an Igbo man is a shareholder of his sharia bank is lost on so many.
Ask him why he specifically singled out that Igbo man, among 10-15 other shareholders.

Hold your ears and listen up; Sharia is on its way to Ibadan. A word is enough for the wise.

Funny article. See how the paragraphs on each governor diminishes as the article ends. Looks like our dear Mr. journalist got tired of writing, faster than he started.

Message for southern muslims:
To the northern muslims, you are all infidels. That is why try hard as you can (Adegbite and Co.) you can never be head of islam in Nigeria
You see your moon differently, they see theirs differently
In the last election, Buhari, a northern muslim, refused to yield to the requests of Tinubu, a southern muslim: all because they feel superior to you.
Yet, you dey fall mugu for their antics

I was in Kano in 2001 when I visited a friend serving there
Suddenly riot broke out
Yoruba muslims, Yoruba christians, Igbos and other southern and northern christians were killed
They say you live peaceably with christians in your midst, hence you are not good muslims
They say you southern muslims drink beer and patronize asha-wos, like christians do, so you are for those reasons, not true muslims.
But please take a trip to a place called Trailer Park along the Port Harcourt-Onne Highway in River State. They come from the North to load fertilizers from NAFCON and petroleum products from the nearby NNPC. There you will see these northern muslims in hundreds who empty beer bottles into their washing kettles used for ablution and drink from it, in deceit of the unwary. You find them sleeping with southern asha-wos on the back of their trailers at night. Ask them, they tell you ''this is southern nigeria, sharia will not catch us here''. They then go back north and pretend all is well and continue with their holier-than-thou attitude.
Did Abacha not die atop Indian asha-wos, as we hear? Yet, to a northern muslim, Abacha is more important than even the holiest of southern muslims.

I pity all these southern muslims who do not want to see beyond their noses.
Sharia Bank? Hm!! They go throw bomb inside the banking hall. Guess who the most bankers in Nigeria are, and thus, who the potential victims would be
They go use your savings buy bomb wey dey go use kill you.
The emphasis on islamic banking is a red flag that should not be ignored
We have had Habib Bank etc; no one cared, because the name does not suggest anything of security interest
From the grapevine, one of the conditions given by the Mullahs in the Middle East to pump in cash is that the name must be ISLAMIC BANK to stamp in the IOC angle to it.

Even the deceit by Sanusi in mentioning that an Igbo man is a shareholder of his sharia bank is lost on so many.
Ask him why he specifically singled out that Igbo man, among 10-15 other shareholders.

Hold your ears and listen up; Sharia is on its way to Ibadan. A word is enough for the wise.

namfav:
get a life, ibos are the best, the best the best, now give it a rest

Duh! I have a life am living to the hilt.

Rhea:
[size=13pt]Decree 51 that establishes NYSC is very clear and unambiguous. As long as Diezani Allison-Madueke graduated before the age of 30, she must serve. It does not matter if she attended Unilag or Unipetrol. If she assumed public office in Nigeria before doing so, then she would have violated that law. Simple!

The criteria for her exemption from NYSC are also crystal clear:

1. If she was over 30 when she graduated, or

2. If she had served in the armed forces of the Federation or the Nigeria Police Force for a period of more than nine months, or

3. If she was a member of staff of any of the following:

(i) the Nigerian Security Organisation, or
(ii) the State Security Service, or
(iii) the National Intelligence Agency, or
(iv) the Defense Intelligence Service; or

4. If she had been conferred with any National Honour

For as along as she met none of these criteria, then she would have violated the law establishing the NYSC.

While I would also agree that she may not be the first or the only one to have 'dodged' NYSC and still gotten a job in Nigeria, we all have to realise that when you go fishing, you don't catch all the fishes that snag your line. She may be (yet) the fish to be caught. If the senate approved her appointment as a minister without asking to see her NYSC discharge or exemption certificate, then our senators must have made a meal of a very simple assignment.


[/size]

Her issue is rather old. It came up during her first stint as a minister. The senators passed her because you do not need to be a graduate to be a minister. Moreover it is not a civil service position. IT IS AN APPOINTMENT. Ban NYSC now. It is a useless piece of adventure.
El Rufai, when he was minister of FCT employed two others -as his assistants- who did not undertake the NYSC and craftily placed them on contract instead of permanent civil service position. Dieziani is a big fish.

Islamic Bank of Nigeria
http://www.jaizinternationalplc.com/board_of_directors_management_staff.html
15 Directors, all muslims
13 Northerners
1 Yoruba (muslim, the only one of the southern muslims, they trust at just about 40% trust)
1 Igbo (Muslim who has not been in Igboland in 50 years)
Enough to raise a red flag

btyfulmnd:
How do you mean? are you insinuating that if i give you a name you will be able to locate the girl anywhere in the north.Or you are looking for ready-made hausa/fulani girls that parade themselves in the north.

If you claim hausa/fulani are so beautiful, educated, graceful and intelligent that they will worst other Nigerian girls in a beauty pageant, you should be able to prove it. Like (for e.g.) posting a photo with all the listed qualifications that will enable us judge who that person is.