By Yusuf Olukokun
The Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, gainfully expressed his humane interest in Islamic Banking, adding that its establishment was never for once a plan to ‘Islamise’ Nigeria, as regards the speculations sometimes ago.
Cardoso stated this at an event organised to honour Dr. Umar Oseni, Secretary-General of Organisation of Islamic Arbitration Center, in Abuja.
The CBN Governor was represented by Kofo Salam-Alada, Director of Legal Services, and he dutifully mentioned how Shariah Banks have helped individuals who are into small and medium scale businesses.
Adding further, he said Cardoso was also delighted on how Jaiz, Tajj, and Alternate Bank, have been able to witness the storm in the country’s banking sector without fidgeting.
According to him, he said, “Some years back, the Central Bank of Nigeria started a journey for the introduction of the Islamic Banking and Financing in Nigeria. It came when a young man was appointed governor of CBN. But most people never knew that the first person who spearheaded the journey was to be a pastor of the church.
“He was also a part-time pastor when this journey started. So it was never an attempt to Islamise Nigeria or Islamise financing in Nigeria. When the Prince (Emir Sanusi) came, he continued the journey. And that journey saw some of us, one of you, who is standing before you today, that started the transaction documents that started the relationship with one institution that Dr. Umar Oseni headed for about eight years.
“I am not advertising, but I can say we are proud of Jaiz, Tajj, and Alternate Bank and I believe many more will come. We are happy to drive on roads financed by Sukkuk in Nigeria and more billions will still come. So many products are on the card and Central Bank of Nigeria will not rest until financing gets to the grassroots.”
While reacting to the points made by Kofo Salam-Alada, Dr. Oseni appreciated those who turned at the event, mentioning that they are the sole reason he has been able to achieve some things in life.
He added that Islamic banks are here to stay in the country with positive impacts.
“We are living in a world where we are all interconnected. Let us ensure that we make a positive impact on anybody that comes our way. Touch the person positively without expecting appreciation.
“The focus of the OIC Arbitration Centre basically is on investment, financing, and commercial dispute resolution. So, in all the bilateral treaties Nigeria is entering into with other countries, we are going to ensure that there is a clause for dispute settlements, he stated.