BANKING: A CHRISTIAN PERSPECTIVE (3)

CAN President Ayo Oritsejafor

"Pastor Benny, of course, would have none of that and he is fighting back – within the system, as well as, spiritually.  Exasperated, he was quoted in part as saying: “…hopefully these banks will come to their senses and start working with churches that are helping the communities. This church isn’t a business. This is my life. This is my calling. There are lives at stake.”  But that is precisely, the problem: the church is not a business; the banks ARE! Money is the life of the banker, making money is his “calling”; profit, mouth-watering profit, is at stake! "

As we saw last time, Benny Perez, Pastor of the Church of Las Vegas is in a battle to save the church’s property from foreclosure. As a result of the sub-prime lending crisis which brought the world’s financial system to its knees three years ago, the value of the church’s property, bought largely with borrowed fund, plummeted 90%. Las Vegas, incidentally, was among the worst affected property regions of the world. The bank which provided the fund with which the property was bought wants to cut its loss and scram, with potentially disastrous consequences, including loss of the property and the huge funds already expended on it.

Pastor Benny, of course, would have none of that and he is fighting back – within the system, as well as, spiritually.  Exasperated, he was quoted in part as saying: “…hopefully these banks will come to their senses and start working with churches that are helping the communities. This church isn’t a business. This is my life. This is my calling. There are lives at stake.”  But that is precisely, the problem: the church is not a business; the banks ARE! Money is the life of the banker, making money is his “calling”; profit, mouth-watering profit, is at stake! 

In sober moments, I am sure, even the pastor knows that it will take a miracle for him to save the church campus and have the necessary fund to continue his expansion project. I believe in miracles and I am joining him in prayer for one. This is because, within the system, as is, he doesn’t stand one tot of a chance! 

Which was why, we ended the last piece on this stark note: “Yes, every system serves its originators and operators. The current banking system, whether in the USA or Nigeria, was not established to serve the Kingdom of God on earth. If it ever does help the church, it is accidental, and it’s got to be on its own terms. If those terms hurt us, the system owes us no apology!”

Now, it is against this background that we must consider our options. First, I must state that I am a believer in supernatural provision. I believe that it is possible to build church facilities debt-free; that is without recourse to borrowing of any kind. And what applies to churches applies to individuals, depending on your level of faith and on the sovereign choice of God in each situation. However, I know that, borrowing, while not being the perfect will of God, is well within his permissive will. If that is true, we need to ask ourselves whether churches and individual Christians should be left at the mercy of a system that is clearly designed for purposes that can only occasionally coincide with ours.

Two not so widely publicized contributions to the on-going debate on the controversial introduction of Islamic banking have, in addition to Bro William Eze’s all-important question to me on whether God was trying to say something to us through the controversy, have helped to point me in a definite direction, which I shall share presently. But first let’s read the contributions by these two Nigerians, one Christian, the other a Muslim, together.

In a piece titled, “A Moslem on Christian Banking” in a recent of edition of Leadership newspaper, Yushau Shuaib, identified as a former press secretary in the Federal Ministry of Finance and Revenue Mobilisation Allocation and Fiscal Commission counselled as follows: 

 “…Pastor Oritsejafor and his co-travellers clamouring against the introduction of Islamic banking should be advised to channel their energies towards ensuring the realisation of Christian banking in Nigeria that could be fashioned in line with biblical injunctions. Though Islamic banking system is globally recognised as a financial model for investment alternatives, the prohibition of usury or charging interest on loans as well as investment in prohibited goods and products are not only abhorred in the Quran but also have references from verses in the Bible. Some sections in the Bible that prohibit usury for instance in the King James version of the Bible include: Exodus 22:25-27, Leviticus 25:36-37, Psalm 15:1-5, Deuteronomy 23:19-20, Jeremiah 15:10 , Ezekiel 18:7-9, 17 and Matthew 25:27 just to mention a few. Though literatures on Islamic banking and finance are in their thousands, getting similar publications from the Christian perspectives should not be difficult to obtain.

“In fact the many Christian universities in Nigeria are not established to churn out graduates but to provide scholarly materials in various subjects. Pastor Ayo Oritsejafor should exploit those potentials and also engage scholars and intellectuals to work out the frameworks for Christian Banking in Nigeria. The Nigerian muslim will surely not object or condemn the initiative just like similar programmes and policies initiated and formulated by Christians.” 

The second piece by a blogger who describes himself as “a Nigerian student that experienced Christianity first hand; from a religious family in South Western Nigeria; a student of science that developed special interest in philosophy and religions early enough to enable him discern some truth from falsehood” concluded his piece on the subject like this: “If your religion doesn’t have a way out for the poor, if your religion says virtually nothing about finance, if all you talk about in churches is how people will make fortunes (to deliver to your coffers anyway); then let the way of life that has a guidance, and is willing to help us stay…”

Food for thought, don’t you think? For instance, could a mortgage funding product run along Islamic Banking lines have been friendlier to Pastor Benny and the Church of Las Vegas? This leads inexorably to the questions that have been tugging at my heart since. Is there such a thing as Christian Banking? If there is, what are its main features; how does it differ from orthodox banking and why is it not being pushed as vigorously as Islamic banking is being promoted? If there’s no such thing as Christian banking, why isn’t there? Against the background of current experiences all over the world, shouldn’t there be Christian banking, if there isn’t?  (CONTINUES)

BANKING: A CHRISTIAN PERSPECTIVE (2)

Pastor Benny Perez

"Charisma reported what it describes as the “ugly details” as follows: 'The Church of South Las Vegas paid $4.5 million for 3.3 acres of Las Vegas Valley land three years ago. In March, that land appraised for $475,000—a 90 percent decline. The church owes a combined $7.7 million on the property and land. It appraised for $2.3 million. So, like many property owners in Las Vegas—one of the hardest hit real estate markets in the nation—Perez is upside down … $5.4 million upside down'.”

The point has been made that the controversy over introduction of Islamic Banking into our financial system has become a kind of “hunch back problem”, which our dear President would need divine guidance to resolve. That is because the rhetoric on both sides has become violent. Also when it is remembered that the President is a Christian, you wonder how he’s going to avoid accusations of partisanship or sell-out as the case may be.  That was why I counselled that we should pray for him.

But as we pray, I had also suggested that we “begin to prayerfully take a close look at banking systems and practices and our place in it, as children of God”.  I also requested you, dear readers to reflect on how your “interface with banking practices, as they are today, (have) helped or hurt your assignment for God here?  

In making this request, I was hoping that we would be able to identify the strengths and weaknesses of the system, how those attributes line up with the way and manner Christians are supposed to conduct their affairs in whatever their hands find to do here on earth.

My preliminary thoughts are that we, in this part of the Christian world, have not had the incentive to give this issue any thought for two reasons. One, real or perceived weaknesses in the financial system have been located mainly within a rotten socio-economic and political milieu, which would be corrected once the operating environment responds to treatment. 

Secondly, it does seem as if interaction between the Church, in this context, the institutions, rather than the congregants, is mutually beneficial. The reason being that many of the major church institutions, which produce leadership of the church associations and groups, are veritable sources of deposits to the banks and can benefit from existing interest regime or even negotiate theirs. In addition, most of them hardly ever have the need to resort to bank funding for their projects. 

This is where the story of the current travails of Benny Perez, senior pastor of the Church of Las Vegas, in the United States comes into the picture. A Charisma News report last week styled the situation as a battle with the “Babylonian system to save its campus from foreclosure.” The church, a 4,000-member charismatic megachurch is located in Henderson, Nevada,   widely recognised as the gambling capital of the world.

Charisma reported what it describes as the “ugly details” as follows: “The Church of South Las Vegas paid $4.5 million for 3.3 acres of Las Vegas Valley land three years ago. In March, that land appraised for $475,000—a 90 percent decline. The church owes a combined $7.7 million on the property and land. It appraised for $2.3 million. So, like many property owners in Las Vegas—one of the hardest hit real estate markets in the nation—Perez is upside down … $5.4 million upside down.” 

The report continued: “Perez says the real battle began when the bank wanted to collect $1.8 million in church offerings earmarked for a building project for the fast-growth church. When Perez tried to negotiate with the bank to reduce the principal of the $7.7 million loan in line with actual property values, the bank refused. 

“After prayer and legal counsel, The Church of South Las Vegas decided a strategic default was the best stewardship move. The church stopped making payments on the loan on May 1. The bank subsequently filed suit against the church on June 17. And in July, the church filed for Chapter 11 bankruptcy in effort to save its campus. ‘People are asking if it is biblical to do a strategic default and declare bankruptcy,’ Perez says. ‘Our answer is we will leave that to smarter people. All I know is that for us as a church, it is a stewardship issue. Would you keep throwing thousands of dollars into a black hole? The bank wants to milk our savings and everything we have until we can’t pay anymore. Bankruptcy was a business decision.’”

Explaining the church’s strategy, the report said, filing for bankruptcy protection, ensures that the church “doesn’t have to leave the property - at least for now - because foreclosure is stayed”, since the Church has no debt. 

Perez, continues the report, “still hopes to negotiate with the bank. But the reality is that The Church of South Las Vegas could wind up losing its current home .Charisma quoted Perez as saying: “Somebody needs to stand up to this and I am standing up…Other pastors facing foreclosure are calling me asking what they should do. I can’t tell them what to do about the financial situation, but I do tell them not to walk in fear and not to keep throwing money away to these banks. You have rights and hopefully these banks will come to their senses and start working with churches that are helping the communities. This church isn’t a business. This is my life. This is my calling. There are lives at stake.”

Interestingly the pastor, as we are wont to do, had a spiritual angle to the issue. Charisma quoted him as saying: “This is a spiritual battle. The enemy loves to stop churches by using money. We are one building away from feeding and clothing more people, reaching more youth and children, and helping more prostitutes…Our church would probably double in another year if we could get the new building up. It’s been a war for three years. This is not about a bank. It is a principality and a power standing between us and the Promised Land.”

Now, there are a number of issues thrown up by this report. The easiest to deal with, in my opinion, is the spiritual angle as articulated in Pastor Perez’s statement in the immediate last paragraph. Yes, every system serves its originators and operators. The current banking system, whether in the USA or Nigeria, was not established to serve the Kingdom of God on earth. If it ever does help the church, it is accidental, and it’s got to be on its own terms. If those terms hurt us, the system owes us no apology! (CONTINUES)

BANKING: A CHRISTIAN PERSPECTIVE

Bishop Wale Oke, VP (West), CAN

"The continued validity of my standpoint can easily be seen from how the issue has taken on a life of its own. It has become a hunchback problem, which touched anyhow, hurts (apology to Ray Ekpu). I say that because now the President does have a problem on his hands. The Supreme Council for Sharia in Nigeria (SCSN) has been widely reported as declaring that moslems are ready to defend the implementation of the Islamic banking regime “with the last drop of our blood.”

I was saying last time that the furore over the introduction of Islamic Banking into the Nigerian financial system ought to be seen as an opportunity for us Christians to rethink banking as it is currently practiced, and our engagement with it. This redirection of focus was, as I acknowledged, was a result of a dialogue with one of my brethren. 

William Eze had put it this way: “Do you think there is a divine providence prodding the Christian community (assuming the true motive is to empower the poor), which the Christian community has not given adequate attention. Can you look beyond what the normal eyes can’t see?”  I immediately “saw” that God was using him to point us all in the direction we seem resolutely focused on ignoring: that nothing happens by accident; that as spirit beings we must be more concerned about the spiritual dimension of things.

Since then I have begun a rethink of my position on the subject, from a more spiritual standpoint. Yes, it is true that my erstwhile positions remain valid. These, to refresh your memory are: that Islamic banking, which can very simply be described as non-interest, profit/loss sharing and ethical banking, does no harm to the Christian; but that its timing, the manner of its introduction and its violation of the spirit, if not the letters, of our secular system of government, portends instability to the nation, particularly against the background of mutual distrust across the main faith divides

.

The continued validity of my standpoint can easily be seen from how the issue has taken on a life of its own. It has become a hunchback problem, which touched anyhow, hurts (apology to Ray Ekpu). I say that because now the President does have a problem on his hands. The Supreme Council for Sharia in Nigeria (SCSN) has been widely reported as declaring that moslems are ready to defend the implementation of the Islamic banking regime “with the last drop of our blood.”  

The council wasn’t diplomatic about it at all. In a statement read to journalists at the its president, Dr. Ibrahim Datti Ahmad said among other things: “Jaiz bank has come to be and there is nothing they (Christian leaders) can do about it and if we have to go to war on this, we’ll go to war…Let those wearing cassocks stop disturbing our peace. Gentlemen (journalists), being peaceful doesn’t mean we are cowards. We warn them to stop disturbing our peace if they want us to live together in Nigeria. Everybody can go his way; we don’t have to live together. We can’t live under people dictating to us how we should live our lives even within the laws of the country. Whatever they call themselves, whether archbishops, priests or whatever they are, let them stop disturbing our lives. We have had enough; let the government warn them because these abuses are enough. We have been patient but there is a limit to what we can take…

“We’ll meet fire with fire if they make the Jaiz bank impossible. Let them leave us alone. If they want us to live in Nigeria peacefully as we want to do, then let them respect our rights as we concede to them their own rights…They think they can blackmail the government, the CBN or the Muslim ummah to abandon the project. We want to assure them that nothing can stop the Jaiz bank from coming into being because it’s being brought in according to the laws of Nigeria. There is nothing illegal about it. If they have a Christian bank that they want to establish, they have the freedom to bring it to the CBN and if they can prove their case, a Christian bank will be opened. We, the Muslims of this country, are fed up and tired of the vituperations of the CAN (Christian Association of Nigeria). They feel they can dictate to the Muslims, even on how we should live our lives. And we are warning the government not to listen to them because there is a limit to the amount of nonsense we can take. We are the majority in this country, whether the Christians like it or not.”  

On the other hand, the Pentecostal Fellowship of Nigeria is reported to have called for the removal of Mallam Sanusi Lamido Sanusi as governor of Central Bank of Nigeria. Media reports quoted Vice-President, South-West zone of the Fellowship, Bishop Francis Wale Oke,as saying that  Sanusi has lost the capacity to regulate the nation’s banking industry…Having become a promoter of a sensitive and volatile issue as the Islamic banking project, we have lost confidence in the CBN boss…The secular status of the country still remains non-negotiable as provided for in the 1999 Constitution. The approach of the CBN governor should be reviewed, especially as he is the governor of an Islamic bank…(and) Islamic clerics threatening fire and brimstone over Sanusi’s banking system should be mindful of the consequences of their unguarded inflammatory utterances.”

Dear reader, please join me to pray God’s wisdom for President Goodluck Jonathan as he tackles all the issues thrown up by the contending forces. And I know God answers prayers.

As we do that, however, let’s also begin to prayerfully take a close look at banking systems and practices and our place in it, as children of God. The financial system, including banking is pivotal to the Babylonian system, and we, as children of God, who are in this world but are not of it, really shouldn’t be bothered about it. But then, we are here, and we are the salt of the earth. So, as I close this first in a serial, I request you to think about this: how has interface with banking practices, as they are today, helped or hurt your assignment for God here? Next time, I am going to tell you the story of an American pastor in a wrestling match with the banking system and its relevance to the subject at hand. Join me.

STILL ON ISLAMIC BANKING

CBN Governor

"I see clearer now. You have carefully painted two positions seemingly polarised. I am a bit alarmed at Mr Governor's extreme position. However …let me ask you….what could be a way out of this? Do you think there is a divine providence prodding the Christian community (assuming the true motive is to empower the poor), which the Christian community have not given adequate attention. Can you look beyond what the normal eyes can’t see?"

I had this brief dialogue with one of my friends and brothers during the week. He had read my last piece titled, “Islamic Banking and the Nation”, and he sounded displeased with my position or lack of it. The chat went thus:

HIM: Remy. I‘ve not been able to pin your perspective on this sharia thing. I think people should take definite positions about what is happening.

ME: Which is the "sharia thing"?

HIM: The Islamic Banking and the Sharia Law.

  

ME: Oh that. Perhaps I am simply too naive to make the connection between "non-interest, profit-sharing and ethical banking" which is what "Islamic Banking" is, at its core; and imposition of Sharia Law in Nigeria. I chose not to indulge in the "baby and birth water" syndrome that is the hallmark of many a national discourse. My position was stated clearly, I believe, in the paragraphs preceding my suggestions for the way forward in these words:

‘The vocal cleric’s (meaning Cardinal Okogie) position is broadly representative of the views of Christian leaders who have opposed the introduction of the so-called Islamic banking. A fair reading of this statement and the many others I have read would seem to betray a misunderstanding of the concept and/or distrust of the motive of its proponents all within the context of protection of Christian interests within the plurality known as Nigeria.

‘It has dawned on me that while Islamic banking can correctly be said to be harmless to Christians, as I stated the last time; its introduction at this time; the brazen attitude of Central Bank Governor Lamido Sanusi and the choice of language of the likes of Sheikh Ahmad makes it potentially harmful to the Nigerian State, as we know it..." Forgive me, if that's not 'definite' enough…’

HIM: I see clearer now. You have carefully painted two positions seemingly polarised. I am a bit alarmed at Mr Governor's extreme position. However …let me ask you….what could be a way out of this? Do you think there is a divine providence prodding the Christian community (assuming the true motive is to empower the poor), which the Christian community have not given adequate attention. Can you look beyond what the normal eyes can’t see?

ME: My brother, how I wish we could all be like you, seeking out God's will in situations as they arise! That is what your question has shown and it’s absolutely scriptural to accept that if God allows a situation, even if we can't see Him orchestrating it, He is able to make it work for our good. So, yes, I think it’s an opportunity to revisit banking as it is today vis-a-vis the Christian. It’s a theme I was led to discuss in the 'heat' of the economic meltdown. I just might return to it soon. To answer you directly, I believe we must fight against the nomenclature "Islamic"; and once we succeed encourage Christians and Christian institutions to invest heavily in Non-Interest banking. Handled well, it will, in my opinion, add tangible value to the economy, as distinct from the mere bubble that trading in money does.

HIM: …I shall join you in making declarations…and would not want to pray based on prejudice, until this beast is defeated…  

Now, I wasn’t flattering my friend when I said I wished we were all like him, “seeking out God's will in situations as they arise!” I truly admire him for daring to ask if God was trying to get the attention of the church on the issue of how banking is done, while we are too preoccupied with the “sharia factor”.

 

It’s all the more instructive that every Christian leader who has spoken publicly (at least those whose comments I’ve read or heard) on this vexed issue, seemed to have ignored the spiritual, moral and economic angles to the debate. We have tended to be too combative, too political to bother about these areas. Yet, when you come to think about it, these are the angles that should have formed the basis of our response. Such a redirection of focus would have revealed a need for us to rethink banking as it is practiced today, particularly as it has to do with poverty reduction, value-added and socio-economic development of our nation.

An honest appraisal of the banking system in general would show that profit is the dominant essence of the system. This, while legitimate, has tended to be pursued with such ruthlessness that the well-being of the borrower hardly ever comes into the picture, unless, of course, he is of the elite well-connected class, who can afford the huge fees of lawyers, if push comes to shove.

In the heat of the economic meltdown in 2009, a re-think of the capitalist system, (dominated by the money and capital markets) came on the front-burner. 

As I tried to join the debate in my small corner, a characterization of the operators of the system that caught my attention was an old one by Pope Pius XI (1857 – 1939), which read like this: "…It is patent that in our days, not wealth alone is accumulated, but immense power and despotic economic domination are concentrated in the hands of the few, who for the most part are not the owners but only the trustees and directors of invested funds, which they administer at their own good pleasure…This domination is most powerfully exercised by those who, because they hold and control money, also govern credit and determine its allotment, for that reason supplying, so to speak, the life blood of the entire economic body, and grasping in their hands, as it were, the very soul of production, so that no one can breathe against their will..."

Now, Pope Pius XI went to be with the Lord a whopping 70 years ago, and you could be forgiven for wondering if he spoke yesterday! Shouldn’t that be food for thought for us as Christians? If Non-Interest Banking, along with its profit/loss sharing and ethical investment policy components, deemphasizes inordinate profit, afford the ideas person who has no money the opportunity of institutional partnership, and divert funds from production of goods that don’t help our moral health, shouldn’t we Christians be in the vanguard of promoting it? Shouldn’t we?

ISLAMIC BANKING AND THE NATION

"But, that’s not why I have returned to the subject! I have returned to it because the rhetoric degenerating and somebody needs to rein in those who speak on behalf of religious groups. I was particularly alarmed by the “robustness” of the language used by one Sheikh Abdurrahman Ahmad, on behalf of a group known as Conference of Islamic Organisation (CIO), at a news conference in Lagos during the week."

IN my last piece, Islamic Banking and the Christian, I made the point that Islamic Banking, in my opinion, is harmless and should therefore not be resisted.

My words: “You see, my take on this Islamic Banking thing, which I wish to commend to my brothers and sisters, is this and it flows from something I have been saying for ages. I have been confronted with this obstructionist secularism in my search for advertising for the magazine I steward, going for all of seven years. The big spenders tell you they don’t want to be branded Christian, so they’ll rather not use our medium to push their goods and services. When I say to them, find a Moslem medium to balance things out, they say no! The result is they put their money in God-neutral outlets, many of which corrupt and, ultimately serve the devil!

“Islamic Banking is interest-free, profit-sharing and ethical banking. How that hurts anyone, I honestly don’t know. There are many money and financial products that are ethical – no investment in alcohol, tobacco etc – and they are doing well. Properly regulated this so-called Islamic banking can do us good. And if we, as Christians, like to start something of our own to compete with it, I guess, we should. If Sanusi then refuses to approve, we would have good reason to scream”.

Since then I have heard the Catholic Archbishop of Lagos, Olubunmi Cardinal Okogie threaten to accept Sanusi Lamido Sanusi’s challenge that opponents of the Islamic banking project should go to court. I also heard him say he might invite the Vatican Bank over to Nigeria. While I have no comments on the court option being illiterate in the law, I certainly would welcome any move towards putting a Christian banking alternative in place!

But, that’s not why I have returned to the subject! I have returned to it because the rhetoric degenerating and somebody needs to rein in those who speak on behalf of religious groups. I was particularly alarmed by the “robustness” of the language used by one Sheikh Abdurrahman Ahmad, on behalf of a group known as Conference of Islamic Organisation (CIO), at a news conference in Lagos during the week.

The Moment newspaper report of the media meet written by Sulaimon Alamutu, read in part like this: “… the allegation being peddled by the leadership of Christian Association of Nigeria (CAN), that introduction of the banking product would Islamise Nigeria was unfortunate describing it as ‘wicked, intellectually-dishonest and provocative.’

“The National Missioner of the Ansar-ud-deen Society of Nigeria, Sheikh Abdurrahman Ahmad, who led the group…noted that the Nigerian Inter-Religious Council, NIREC, which the President of CAN, Pastor Ayo Oritsejafor is the Vice Chairman, should have been the proper avenue to thrash the issues involved rather than resort to media propaganda. He said the NIREC had been holding meetings on burning national issues, but there had never been a time that the CAN leadership raised any fears about the introduction of the non-interest banking into the country’s financial system.

“‘Let me also state here that we have had Christian individuals and groups who have been dissociating themselves from the campaign of hate that has been dominating in the newspapers.’

“Sheikh Ahmad said the non- interest bank, when fully in operation, would be open to all without discriminating against any group. He explained that multinational financial institutions such as HSBC and Barclays bank all operate non-interest banking windows, wondering why Nigeria should not benefit from the opportunities the system would offer. ‘We advise the leadership of the CAN, ably led by Pastor Ayo Oritsejefor to caution all the branches of the CAN to stop heating up the polity,’ he said.

“He called on the Federal Government to avoid being stampeded by those he described as ‘apostles of hate and bigotry,’ adding that ‘It is unfortunate that religious leaders who are supposed to promote cohesion are at the forefront of heating up the polity.’”

I have checked the statements of Christian leaders on this subject to see how they betray “hate and bigotry”, for instance and I still am, but I am yet to locate any. A sampler:

Cardinal Okogie’s statement, which has been widely reported, reads in part: “efforts to ensure a speedy take off of the scheme... was part of the 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 hoisted by the radical sect Boko Haram.”

The vocal cleric’s position is broadly representative of the views of Christian leaders who have opposed the introduction of the so-called Islamic banking. A fair reading of this statement and the many others I have read would seem to betray a misunderstanding of the concept and/or distrust of the motive of its proponents all within the context of protection of Christian interests within the plurality known as Nigeria.

It has dawned on me that while Islamic banking can correctly be said to be harmless to Christians, as I stated the last time; its introduction at this time; the brazen attitude of Central Bank Governor Lamido Sanusi and the choice of language of the likes of Sheikh Ahmad makes it potentially harmful to the Nigerian State, as we know it.

In the event, may I make the following suggestions: That the CBN stays action on the issue; withdraw the guidelines it issued on Islamic Banking which itself has created an unnecessary dichotomy; amend the general guidelines on banking practices to include non-interest, profit-sharing and ethical banking, which is what Islamic banking is about; and simply make this kind of banks regional. This will allay all fears and still achieve the ends of economic growth, which I like to believe Sanusi and his team are pursuing.

ISLAMIC BANKING AND THE CHRISTIAN

Mallam Sanusi Lamido Sanusi,

"Islamic Banking is interest-free, profit-sharing and ethical banking. How that hurts anyone, I honestly don’t know. There are many money and financial products that are ethical – no investment in alcohol, tobacco etc – and they are doing well. Properly regulated this so-called Islamic banking can do us good. And if we, as Christians, like to start something of our own to compete with it, I guess, we should. If Sanusi then refuses to approve, we would have good reason to scream."

Sanusi Lamido Sanusi is easily one the most controversial public officials in Nigeria today. As Central Bank governors go, the only thing conservative about him is his choice of tie. His radical and activist approach to his job ensures that his tenure won’t be forgotten in a hurry, when it’s over.  How he would be remembered; whether on the right or wrong side of history resides in the womb of time, for now.

However, one thing is certain, though, how the introduction of Islamic Banking into the financial system through the recent release of guidelines, the licensing of Jaiz Bank and approval to Stanbic/IBTC to commence that variant of banking, play out,  will play a part in how he is remembered. I say that because, whichever way you look at it, something is bound to change for good or ill, when the dust finally settles.

I say so because, by this singular policy step, Sanusi is, inadvertently perhaps, challenging some fundamental assumptions about our nation. That much must be clear to him, and every perceptive watcher of the Nigerian space, from the variety of reactions coming from across the country.

One of such assumptions is the secularity of the Nigerian nation, a constitutional fact which no less a person than Alhaji Abdul-Lafeef Adegbite, secretary-general of the Nigerian Supreme Council for Islamic Affairs (NSCIA), has consistently challenged, Nigeria, he insists, is a multi-religious, rather than a secular state. This incidentally is, as I write, generating heated but very enlightening and polite debate on the Facebook page of Nigerian Legislature Surveillance Group (NLSG).

I shall resist the temptation to go into the nitty-gritty of that debate here, but it’s useful to state that most of the contributors agreed with the constitution that Nigeria is a secular state and should remain so, for the simple reason that the adoption of one or more religion as state religion will lead to infraction of rights and subsequently chaos. My wonderful friends on that forum said so; and my friends are wise men; so I dare not say otherwise!

But, to return to the issue at hand, does the introduction of Islamic Banking violate the letter or spirit of the secular provision of our constitution? What is secularity? How well has it helped our pursuit of integration, peace, socio-political and economic development? Will Islamic banking retard or strengthen our march towards the nation of our dream?

On the face of it, it seems exaggerated that a policy that, as its most basic form, is simply approval of a banking product, need lead us to such fundamental soul-searching. But that is the nature of our society! So, let’s attempt to answer some of those questions, in order to engage with the issues in currency in this unnecessary controversy.

Secularity is simply separation from religion; neutrality on religious matters. It does not imply hostility to religion, although at its “advance” form it could lead to it. I wish I could answer truthfully that secularity has helped our march to integration, because if it has, we probably would not be having this debate. Nor would we be afflicted with “Boko Haram” 50 years into flag independence. I am not a lawyer, so I cannot make a definite pronouncement on whether Islamic Banking violates the letters of the constitution, but I certainly don’t think it runs contrary to its spirit. I say that because all that the Central Bank of Nigeria has done is license companies that meet its guidelines for the particular kind of banking; it has not established one on behalf of the state. To have continued to shut out Islamic Banking, in my opinion would have done violence to the principle of neutrality that secularity entails. Neutrality, in my humble opinion, ought to include provision of a level playing ground for all tendencies within the space called Nigeria.

The question as to whether Islamic Banking will help or hurt our march forward can be answered with an “it depends”. It depends, ultimately, on how much light we are willing to let into the discussion and how courageous our leaders are in addressing the fundamentals of whether secularity really suits us; if it does, how true to the concept have we been or are willing to be henceforth, and believe it or not, how successful we are in preventing a linkage between it and the emerging threat of Islamic fundamentalism.

I have heard my brethren talk about an Islamisation agenda of Nigeria which dates way back to the days of the late respected Sardauna of Sokoto and which this blue blood CBN governor is still pursuing! And those of this persuasion are fully persuaded that the Islamic Banking project is one of the tools. I am too un-initiated to share that viewpoint, though.

You see, my take on this Islamic Banking thing, which I wish to commend to my brothers and sisters is this, and it flows from something I have been saying for ages. I have been confronted with this obstructionist secularism in my search for advertising for the magazine I steward going for all of seven years. The big spenders tell you they don’t want to be branded Christian, so they’ll rather not use our medium to push their goods and services. When I say to them, find a Moslem medium to balance things out, they say no! The result is they put their money in God-neutral outlets, many of which corrupt and, ultimately serve the devil!

Islamic Banking is interest-free, profit-sharing and ethical banking. How that hurts anyone, I honestly don’t know. There are many money and financial products that are ethical – no investment in alcohol, tobacco etc – and they are doing well. Properly regulated this so-called Islamic banking can do us good. And if we, as Christians, like to start something of our own to compete with it, I guess, we should. If Sanusi then refuses to approve, we would have good reason to scream.

LETTER TO ANYIM PIUS ANYIM, SGF (2)



HAND-IN-HAND: Chief Pius Anyim (right)
with predecessor, Yayale Ahmed

I had stated in the earlier part of this letter that I shall keep an eye on your performance in office as Secretary to the Government of the Federation. My reason, as stated was that it was in the nature of this column to do so with all public officers who publicly profess their faith in the Lord Jesus Christ.

I quoted some of your recent statements to buttress my position, that you have been unabashed about your commitment to the Faith. First, at your inauguration, you described your appointment as “the will of God for him and for all Nigerians”.

Next, in your address at the annual dinner party of Akokwa Christian Elites in Lagos, you “enjoined Nigerians to always seek the face of the Almighty God in any decision they make in life adding that the reason man experiences difficulties in life is because he wants to play God. ‘He (God) opposes the proud and gives way to the humble…There is no alternative to fearing God, to doing the right thing, to being fair to human beings.”

All of that means to me that we can justifiably expect you to be God-fearing and God-dependent in your official conduct and decisions. That thrills me, no end. It thrills me because it reminds me of the story of Dr Christopher Kolade, a respected retired public officer who went on to leave major footprints in the private sector. The story, which forms the kernel of a book by a UK-based Nigerian journalist and entrepreneur, Mrs Pamela Chinekwe, records his exploits as Nigeria High Commissioner to the United Kingdom. Titled, “He Made the Difference…” and published for Nigeria by KP BOOKS, it goes something like this:

In March 2000, the author, on her very first visit to the Nigeria High Commission in the UK had a never to be forgotten experience of the negative kind. Having been to some Nigerian Embassies in other countries, with nothing no untoward experience, she wasn’t prepared for what she encountered. As she caught her first glimpse of the high commission, she was confronted by what she described as “a dauntingly long queue” reaching well outside the Street with as many as 60 persons outside the building. Reasoning that the queue was for those who had consular business; she explained to one of the staffers that all she wanted to do was personally deliver an envelope to its addressee. But, she was told to join the queue still.  

She obeyed. What followed was to remain in her memory for quite a while. Her words: “a fight broke out within the Embassy (I later found out it was a normal occurrence). It was a fight between frustrated passport seekers and the High Commission officers. My carefully ironed suit was crumpled and stained after I got pushed over by angry Nigerians and almost collapsed in the midst of the fiery battle. Some people helped get me off the ground while the rampage continued fiercely…British Police men came in to caution a guy who had entered through a window into the cash office, demanding the refund of his passport fee with interest, for which he had paid a year ago but was yet to receive his passport.

“Another woman was screaming at the top of her voice defiantly declaring that the only way she would leave without her passport was if the building was burnt down…Finally after seven hours and fifty minutes on the queue, we were all told to go home and the doors were shut and that was that…”

That was Mrs Chinekwe’s first visit to the High Commission of her home country and she was resolved that it would be her last.  But her resolve lasted barely three years.

In May 2003, she was having lunch with one of her aunts when she overheard her advising her friend to drop in at the High Commission to renew her passport the next day, rather than travelling to Nigeria to do it. She couldn’t believe her ears! Why would her aunt recommend that, “suicide zone”, as she called it to anyone, not least of all, a friend?  Her auntie’s reply as recorded in the book was unbelievable: “Not any more, Pam…They now have a new man there. I think it is better and wiser for my friend to go there. I got my passport back so fast when I applied, I could not believe it myself.”

Incredible, though it sounded, the journalist and patriot in her got the better of her and so, she decided to investigate. She took notes, conducted interviews and attended events at Abuja House and in July 2007, she was ready to meet with the man who had been at the centre of the changes that had become very widely acknowledged. 

Part of her record of the meeting with Ambassador Kolade went like this: “I walked into the large office ... The simple, neat and elegant furnishing carefully devoid of any frills, stated a lot about my host.

“’Welcome Pamela, what do you have to show me?’ …I dug into my folder and came up with it. Taking a deep breath, I placed it in his hands, then I waited in anticipation. He looked at the contents of the folder I had given him... He finally spoke, ‘I do not think I should be allowing this. Everything I have done here has been my job, nothing out of the ordinary. ‘

‘No, it is not.’…’I beg your pardon?’  he asked.

“’…But your job is a job no one was ready to do. You did something no one had dared to, until now. This is not something we should just brush under the carpet, but something that must be documented so that others can learn from your experiences and techniques…’”

“…I waited for him to say something and finally after two minutes he looked at me again and said, ‘Go ahead and do it, let me know if you need anything from me.’…He continued by way of explaining his change of mind, saying, ‘I asked the Holy Spirit what to tell you and He said to me, if she says she wants to do this, let her. Although I would never have approved this ordinarily, you can go ahead.’”

Now, his achievements in office, very well documented in the book, are certainly stuff that godly success is made of. There is no reason why yours should be any less spectacular, if you’ll just keep to the path you’ve chosen.  God’s grace will be sufficient for you, in Jesus Name. Amen.