I READ HON BITRUS KAZE'S ADVERTORIAL IN THISDAY NEWSPAPER TODAY AND AFTER SEARCHING FOR A COPY ALL OVER THE INTERNET AND FINDING NONE, I HAVE TAKEN THE PAIN TO TYPE IT (WITHOUT PERMISSION FROM THISDAY THO') FOR THE BENEFIT OF ALL OF US HERE, I TRULY BELIEVES IT ADDRESSES THE ISSUE OF ISLAMIC BANKING QUITE CLEARLY AND OBJECTIVELY WHILE ALSO HOPING THE 'WAR MONGERS' CAN READ IT AND SEE THE PLAIN TRUTH

ISLAMIC BANKING: HOW THE CBN GOVERNOR COMPOUNDED OUR FEARS BY BITRUS B KAZE

In Compliance with a House resolution requiring him to clarify the cash withdrawal limit and the islamic banking policy, SLS appeared before the house on the floor of the house of reps on thursday 21st July 2011. he has a field day courtesy of the Deputy speaker Rt hon EMeka Ehedioha who while presiding, shielded him from being asked questions. I concur with two respected colloeagues Femi Gbajabiamila and Samson Osaife who described the deputy speakers conduct as error in judgement as well as a'blunder'. this breach of our privileges is reminiscent of the Dimeji Bankole era when those opposed to the views of the presiding officers were shut out if not manhandled

It becomes imperative to invoke the fundamental rights of the nigerian citizen guaranteed irrevocably uber Section 39(1) of the Nigerian Constitution as amended to bring to focus serious reservations over the islamic banking policy which unfortunately were agrravated by the CBN governor's monologue on the floor of the house.

The CBN governor's repeated reference to some countries including britain, SA, Kenya and Malaysia were he claimed Sharia BAnking id on operastion is premised on the wrong assumption that since these non islamic countries operate islamic banking, non-muslim nigerians ought not to question it. the nigerian nation unlike any of these nations is exceedingly sensitive on matters bordering on religion and ethnicity. the framers of the COnstitution of 1999 had this in ming hence section 14(3) which provides that '' the composition of the government of the federation or any of its agencies and conduct of it's affairs shall be carried out in sucha manner as to reflect federal character of nigeria and the need to promote national unity and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few state or from a few ethnic or other sectional groups in that government or any of its agencies.


THe fundamental Objectives and directive Principles of state policy in SEction 16 (d) of the CFN 1999 as amended provides that the state ''shall without prejudice to the right of any person to participate in areas of the economy within the major sector of the economy, protect the right of every citizen to engage in any econmic activities outside the major sectorsof the economy

the guidelines issued by SLS led CBN states that '' a non interest financial means a bank or other financial institution under the purview of the central bank of Nigeria which transacts banking biz etc in accordance with sharia principles and rules of islamic commercial jurisprudence. the GLossary of terms of CBN's framework defines Sharia pricinples'' t[b]he divine guidance of as given by the holy Qur'an and the Sunnah of the holy prophet and embodies all aspects of the islamic faith including beliefs and practices[/b]

PORK, for example is a major delicacy and revenuc earner is prominent in my (bitrus Kaze) area. An islamic banking system which prohibits any pork related bizwill exclude my constituents from prusuing a legit economic activity in breach of their constitutional rights to engage in any economic activity. Section 1(3) of CFN 1999 as amended provides that ''if any other law is inconsistent with the provisions with this constitution, this constitution shall prevail and the other law shall be to the extent of the inconsistency , be void.

the bank and other financial institutions act as amended (BOFIA) on which the guidelines are hinged, was originally enacted into law in 1991 as a decree promulgated by the IBB administration; the then CBN gov was alh abubakar ahmed, both were committed muslims. Section 37(1) (a) of BOFIA prohibit banks and financicial institutions that project any religion, this was necessitated that time because of the intense heat heat the country was thrown into (as is the case now) over nigeria's membership of the OIC

SOLUDO whose policies include the removal of Arabic inscriptions from our currency have been reversed, may have approved CBN's membership of Islamic Financila services board. however, it is SLS who without any recourse to the national assembly approved controversial operational guidelines so heavily injected with the islamic dose and at the peak of the terror of the boko haram who incidentally are seeking to enforce the same sharia principles.
the expressions ''sharia'' and ''islamic'' are the chief offensive labels which have triggered and sustained fierce antagonism against this lopsided policy. the cbn gov was definitely economical with the truth when he pretended that ''islamic banking was just a name (Daily trust 22nd July 2011)

the islamic banking policy is inextricably rooted in the islamic religion which is the blood upon which it thrives. it as an exclusive religious product explicitly hinged on the sharia law, no amount of rhetoric can change this fact. it does not matter how many countries operate islamic banking, as long as it is in conflict with the constitution of the FRN, it remains unconstitutional. not withstanding the huge public outcry, the zeal with which the cbn governor has continued to campaign for the enforcement of his sharia banking agenda is unequalled in our history. it is enough tto hold his motives suspect.


LONG, BUT TOTALLY WORTH IT

very good, now instead making meaningless noise let the advocates of the above go to COURT. simple.

Sanusiiiiiiiiiiii! The Hausa, Ibo and Yoruba languages on our naira
(except 50 naira note only) have disappeared. Sanusi has secretely
and unilaterally returned the arabic inscriptions on our notes.

Interesting. Thanks for typing it out.