Islamic Banking in Nigeria: What Christians Are Against? (I)

By Dr. Lewis Akpogena

Dr. Abdulgadir Ibrahim Abikan's view in his paper “Constitutionality of Islamic Banking in Nigeria” (2009) expresses Christians' agitation on the constitutionality of Islamic Banking and the procedural breach by Sanusi, the Central Bank of Nigeria's Governor in the matter. Dr. Abdulgadir, a Lecturer with the Department of Islamic Law, Faculty of Law, University of Ilorin, Solicitor and Advocate, Supreme Court of Nigeria in his paper said: “It must be pointed out from the outset that there is no place in the Constitution of the Federal Republic of Nigeria 1999 or the ones before it where provision is/was made for Islamic banking or any other type. This may be explained by the fact that the Constitution does not pretend to be capable of making provisions for all laws that need to be. Rather, by its supremacy provisions, it portends to give validity to all the laws of the land as the makers of such laws derive their law making powers from it. By these provisions, the Constitution seeks to assume the status of Kelson's concept of Ground norm. This is the basic norm, that is, the common source for the validity of all norms that belongs to the same order and the reason for their validity. Thus, all the banking laws in Nigeria, including the one enabling Islamic banking have their roots traceable to the Constitution through this means”

Several Comments have been made about the introduction of Islamic banking in Nigeria, some in support and others against it. For quite some time, the proposed introduction of Islamic banking has been one of the most topical issues in the media. A plethora of reasons has been advanced in support and against the idea of such a banking model in Nigeria. Expectedly, most of the contributions to the discussion are tainted with religious sentiments while some are appreciably detached and educative. It was clear from the outset that the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi did not present Islamic banking to Nigerians as an issue for discussion and ratification or rejection. What he presented to Nigerians was a decision that had been taken in the exercise of the powers vested in him as the Governor of the CBN who is the regulator and overseer of banking operations in Nigeria. The question is, is Mallam Sanusi's action constitutional and in tandem with the guidelines for establishment of any bank as per the provisions of the CBN Act and the Banks and other Financial Institutions Act (BOFIA)?

Dr. Abikan's views as stated in his paper clearly say there is no constitutional provision for Islamic banking. The Christians position as espoused by Pastor Ayo Oritsejafor, the President of Christian Association of Nigeria is that based on Nigeria secularity it is out of order and precedent for CBN Governor to promote a bank on the basis of a particular religion. I agree with my senior Colleague and friend, Rev.(Barr) Faraday Iwuchukwu's submission: “My search has proved that there is no nation so far in the world that operate Islamic Banking that has grown powerfully in its economy because of operating Islamic Banking. Section 10 of 1999 CFRN insists on the secularity of our country. We are told (tissues of lies) by the present Central Bank Governor, Sanusi Lamido Sanusi that is an interest free banking system where investors or business people can go and obtain loans for their businesses without the burden of paying interests on loans. The fact remains that by virtue of the Act, there is a provision for the operation of Non-interest Banking in the CBN Act. But why should Mr. Sanusi bring in religion or Islam into it? Act docs not say Islamic or Christian Non-interest banking, but it is open for the secularity of our economy in Nigeria.”

“Regrettably in his bid to come to this stage, Sanusi as CBN Governor with an evil intent to Islamize has changed major clauses in the CBN Act for three consecutive times the latest being in June 2011. Why? He did that secretly to prepare the ground for launching his dream Islamic Bank in Nigeria. In United Kingdom, South Africa and even America, such interest free loans bank operates as well as Islamic Banking but there is no Sharia Council. None of these countries has a Central Bank Governor that is so noisy and pronounced to the point that you could easily know or identify them. Pakistan and Bangladesh are still poor despite the operation of Islamic Banking. India is far better off without Islamic Banking. Saudi Arabia is viewed as the Headquarters of Islamism Worldwide yet it does not sue Islamic Banking System Laws or Sharia laws for its oil industry. The Organization of Islamic Countries (OIC) controversy as introduced compelling Nigeria to be a member (partial or full) also made fantastic promises on using it to turn Nigerian economy around. What has been our benefit so far?”

“Nothing. Why is Sanusi bringing his religion into Nigerian economy? Is he not looking for a big trouble that could ignite religious fire in Nigeria? Does that not border on discrimination or a sort? Is Sanusi an elected State Governor or appointed CBN Governor? Is he not insensitive to the already tense security situation in Nigeria? Is Sanusi helping Dr. Goodluck Jonathan, (a Christian) by heating up the situation through his pet religious Islamic Banking at this very time in Nigeria? Who gave him the audacity to be so noisy and confrontational on such issues? Does he have the morality as CBN Governor to champion such a cause? Is it not administratively wrong and unethical for him as Nigeria's CBN Governor to be in the forefront of such agitation for the establishment of a religiously inclined bank in Nigeria? Has he forgotten that there are other major stakeholders like the Christians and Animists population in Nigeria whose rights and interest he seems to be taking for granted and arrogantly challenging to go to court to stop him if they are not in support of his Islamic banking madness? Why the boast that only the courts can stop his project? Does he think that other Nigerians are ignorant of the possibility of the use of such Islamic Bank to strengthen money laundering and create a chance for more terrorism activities in Nigeria from the Islamic fundamentalists and terrorists? Are Mallam Sanusi, Prof. Tam David-West and other exponents of Islamic Banking (Sharia influenced) not aware that no real banking enterprise can operate without interest no matter how little?”###

On the challenge threw by Mallam Sanusi that Christians can go to court my learned friend, Rev. Barr. Iwuchukwu argued: “Must every recklessness or effrontery be taken to court in Nigeria? Is he taking every other Nigerian non-Muslim for a ride? Does he ever have the support of educated moderate Muslims in Nigeria? “If he has got the guts we have the nuts”. Let Sanusi and his co-sponsors stop this ongoing politicization of Islamic religion in Nigeria, else he would later regret his excesses. Islamic banking does not guarantee liberalism in Agricultural (piggery) and brewery (alcoholic) loans. What does Mallam Sanusi think of those businessmen or investors who would apply for interest – free loan from the Islamic Bank to fund their agriculture (piggery or alcoholic beverages) or breweries? Is it not ethically wrong for Sanusi, a public servant appointed and paid by Nigerian's tax payer's money to champion sectarian banking in Nigeria? Will the Islamic Bank give them loans? No is the answer and this will be a violation and discriminatory financial, policy based on religious (Sharia law). Law and not the 1999 CFRN. S. 10 of our Constitution state that Nigeria is a secular state. Hence she is not subject to any religious law. Any violation of S.10, 34-35, 40-44 of CFRN 1999 will be resisted. Should we expect Christian and Animists Banking as a protest banking system in Nigeria? Christian Association of Nigeria (C.A.N.) should not respond to the challenge that ridiculously seeks to establish or license religious banks in Nigeria? No way! Sanusi and our respected Prof. Tam David-West's challenges are not responsible words”.###