It is indeed very sad that at this present state of Nigeria, when there is tension everywhere and people are sleeping with both eyes open in some parts of the country, they have decided to introduce the issue of Islamic Banking.
It is also very very sad that this ‘suggestion’ is being raised and funded by a government parastatal and not an independent body. The name is Central Bank of Nigeria not Central Bank of Islam Nigeria or Central Bank of Northern Nigeria! How will you ever expect that people will not ‘fura’ or raise eyebrows at the idea?
Firstly, it was cashless society and then within minutes the idea took a back seat for Islamic banking. Can we say that someone is confused? Can we say that the someone doesn’t really have a plan for the country, throwing ideas here and there and experimenting with the country?
I am not saying that Islamic Banking is bad but at this point in Nigeria’s life, it is a very very very bad idea. We have a lot on our hands now than to start trying to quell the issues that will arise from this new suggestion. Oh, sure, issues will definitely arise. It’s Nigeria, remember? Better still this could have been introduced as non-interest banking.
What gives this someone the notion that because this has worked in other countries, it will work in Nigeria? We are quick to forget that Nigeria is indeed very peculiar in every sense of the word. We can’t copy! Most of the things we have copied mostly end in flops.
Different people (big shots) are saying all sorts about the idea. While some say ‘it has come to stay’, some say ‘they will go to war over it’, others say pure gibberish. Nobody is hitting the nail on the head, which is ‘CAN IT WORK WITHOUT ANY ISSUES OR CONTROVERSIES?’
When we answer this question perfectly, then we are good to go based on the answer. Meanwhile, I think avoiding this question only makes the issue of Islamic banking a time bomb in Nigeria. We would be surprised at the rancour this can cause if left unattended to.
So Mallam Someone presented the idea to the house and all they did was applaud him and he walked out. No questions, nothing. Is that to say that they perfectly understand the idea? Or is it to say that no other form of non-interest banking can be used instead?
A Sharia council of experts are to be appointed specially by CBN to oversee the Islamic Banking and it will definitely be run by the sharia law. So “ if I am into pork business, does that automatically disqualify me from benefiting from the bank? Or do I have to shut down my business?”
Apparently, this idea started in the bible so do not think we are against non-interest banking. We are just bothered that with the word ‘ISLAMIC’, it may blind some people’s eyes to see the benefit in this and to run it properly.
At the same time that all this is going on, our dear President is clamouring for 6year single term for president and has also said that it isn’t his idea. The reps and governors are supporting it because very soon, it will be their turn to extend theirs.
GOD HELP US ALL!!!
GOD BLESS NIGERIA!!!
NB: Remember, everything I have written is my opinion and I have a right to voice it!