Finance

Okogie says no to Islamic Banking

By Sam Eyoboka

The Catholic Archbishop of Lagos, Anthony Cardinal Olubunmi Okogie, has kicked against on-going moves by the Federal Government, through the Central Bank of Nigeria, CBN to endorse the commencement of Islamic Banking in Nigeria, saying such action was capable of fueling religious tension in the land.

In a release signed by the Director of Social Communications, Very Rev. Monsignor Gabriel Osu, Cardinal Okogie said that the frantic efforts by the CBN Governor, Mallam Sanusi Lamido to ensure a speedy take-off of the scheme, through the promoters of JAIZ Bank, were part of a grand plan to turn Nigeria into an Islamic state.

“We condemn such moves in all ramifications. We are against the operation of Islamic banking in Nigeria because we see it as another deliberate move to subjugate Christians in Nigeria. Nigeria is a secular state.

We must be very sensitive to the religious beliefs of others. Introducing Islamic banking in Nigeria will further aggravate the palpable religious tension in the country already being hosted by the radical Islamic sect, the Boko Haram,” he stated.

Going down memory lane, the cleric recalled how in the mid- 90s, the military government under Gen. Ibrahim Babangida (rtd), enlisted Nigeria’s name as a member of the controversial Organisation of Islamic Countries, OIC, without due consultation with all other religious groups in the country.

“I see some faceless groups trying to smuggle in their sinister agenda through the back door, but it will not work. We all kicked against the enlistment of Nigeria as a member of OIC in the 90s. As usual, they came up with several arguments that Nigeria stands to gain a lot economically.

“This time too, the CBN is telling everyone that the scheme promises non-interest banking, as if it all ends there. Why should they come up with such an idea at this point in time under the tenure of Mallam Lamido Sanusi? What will happen if Christians wake up tomorrow and say they want to start a Christian Banking scheme and traditional religion practitioners decide to do likewise? We are going to ensure that it does not see the light of the day,” Okogie who recently marked his 75th birthday anniversary argued.

He urged President Jonathan and the CBN to quickly revoke the licence granted the promoters of the bank, warning that it is capable of causing religious warfare and aggravating the already tensed security atmosphere in the country.

“We already have eight ailing banks in the country. The CBN should focus more on how to bring them back to life.