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CAN flays CBN over non-interest banking

By Michael Eboh & Christian Olise

The Christian Association of Nigeria, CAN, yesterday, berated the Central Bank of Nigeria, CBN for not undertaking wide reaching consultations with religious organisations and other stakeholders before announcing the guidelines for non-interest banking, also called Islamic Banking.

CAN’s President, Pastor Ayo Oritsejafor, who made this statement at the Nigerian Institute of International Affairs’ fifth brainstorming session on Islamic Banking in International Relations, said that the controversies generated by the release of the Islamic banking guidelines would not have arisen had CBN been more thorough and sensitive to the religious sensibilities of non-Muslim Nigerians.

According to Oritsejafor, who was represented by Mr. Eghes Eyieyien, Christians are not and cannot be against the desires of Muslims or any religious group in Nigeria to have their own form of banking services. He noted that what they are against is the fact that CBN is the promoter of the principles.

He said: “Christians are not against Islamic Banking per se. What we are against is that a Federal Government agency, CBN, has become the promoter, driver, marketer and executor of Islamic banking contrary to the country’s constitution.”


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