NIGERIA: ‘Non-interest banking, road to economic prosperity’

By Moses Alao

An Islamic cleric, Sheikh Temitope Mustapha, has made a strong case for Islamic banking, saying it is the best way of doing business as laid down by the Creator, even as he said that it is applicable to both Christianity and Islam.

Speaking during the maiden edition of the Ramadan lecture organised by the Nigeria Union of Journalists (NUJ), Oyo State chapter, the cleric pointed out that a large percentage of Nigerians would benefit greatly if the non-interest banking was established “because a lot of industries and businesses set up will come up and many jobs will be created.”

He urged Nigerians to accept non-interest banking in the interest of the nation, noting that the country should not be divided over such matter.

One of the dignitaries at the lecture was the Oyo State secretary of the Peoples Democratic Party (PDP), also the special guest, Alhaji Bashiru Akanbi, who maintained that most of the people agitating against non-interest banking were doing so for selfish reasons.

“It is because Islamic banking will not give room for fraud” he said.

The Onjo of Okeho, Oba Rafiu Mustapha Osuolale, Adeetan II, also noted that non-interest banking is not limited to Islam, while in his remark, the Oyo NUJ chairman, Mr. Gbenga Opadotun, urged Nigerians to take a cue from the union by allowing religious tolerance and weighing the pros and cons of policies without religious sentiments.