Islamic Centre appeals to CBN for microfinance banks policy review

CBN Islamic Centre appeals to CBN for microfinance banks policy review Policy By Salisu Sani-Idris Abuja, Feb. 21, 2019 The International Centre for Islamic Culture and Education (ICICE) has appealed to the Central Bank of Nigeria (CBN) to review the recent increase of minimum capital base of Microfinance Banks. The Director-General of ICICE, Dr Kabir […]




Islamic Centre appeals to CBN for microfinance banks policy review
By Salisu Sani-Idris
Abuja, Feb. 21, 2019 The International Centre for Islamic Culture and Education (ICICE) has appealed to the Central Bank of Nigeria (CBN) to review the recent increase of minimum capital base of Microfinance Banks.

The Director-General of ICICE, Dr Kabir Usman, in a letter dated Feb. 6, written to the CBN Governor, described the CBN decision as “injurious to the industry”.

He stated that the feedback from a survey conducted by the centre on the policy shows that majority of the stakeholders are unsatisfied with the decision.

“Raising the capital base of microfinance banks by 1000 per cent as contained in the CBN’s circular issued on Oct. 22, 2018 shows that majority of the stakeholders are discontented
with the decision.’’

He listed the challenges and risks associated with the operations of the microfinance banks to include, capital base, corporate governance and compliance issues, lack of awareness by  beneficiaries and insider abuses.

“Increase in the capital base from N20 million to N200 million will not address the challenges either.

“We recommend a review of the capital base from the current N20 million to N50 million, compulsory basic training for all microfinance banks key staff as a pre-condition to the issuance of operating license.

“We recommend strict compliance to corporate governance in the organisational structure of the banks and regular town-hall meeting with the beneficiaries at their localities,’’ Usman said.

The News Agency of Nigeria reports that the letter was copied to the Minister of Finance and the Managing-Director of the Nigerian Deposit Insurance Corporation.
Edited by Celine-Damilola Oyewole/Maharazu Ahmed

General news

Buhari condoles with Muslims over loss of Islamic leader, Sheikh Kamaldeen



President Muhammadu Buhari has joined Muslims across the nation to mourn a leading Islamic cleric and jurist, Sheikh Ahmad Olayiwola Kamaldeen, who passed on in Ilorin, Kwara, on Friday.

He was, until his death, the Khalifah Al-Adaby of Ansarul Islam Society of Nigeria.

The President’s condolence message was conveyed in a statement by Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in Abuja on Saturday.

President Buhari described Kamaldeen’s demise as “a loss to the Emir of Ilorin, the Ilorin Community, Kwara State, Nigeria and the entire Muslim Community”.

”He was a front line Islamic jurist and an established technocrat who rose to the position of Permanent Secretary in government and Khalifah in the service of the Islamic faith,” he noted.

The President prayed to Allah to forgive Kamaldeen’s shortcomings, accept his return and grant him Jannatul Firdaus.
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General news

Ex-governor Ahmed mourns late Islamic cleric



Former governor Abdulfatah Ahmed of  Kwara has commiserated with the Kamaldeen family on the death of leading Islamic cleric Khalifa Ahmad Olayiwola Kamaldeen.

Qhmed expressed his condolence on Saturday in Ilorin via a statement by his Spokesperson, Dr Muyideen Akorede, following Khalifa Kamaldeen’s passage on Friday.

He urged the family and the Adabiyya Islamic Movement to take solace in the fact that the departed scion was an exemplary man who upheld his late father, Sheikh Mohammed Kamaldeen’s legacies in Islamic and Quranic education.

“I offer my deepest sympathies to the Kamaldeen’s family, and the Adabiyya movement on the sad loss of Khalifa Kamaldeen, a great man.

“I share your pain and ask Allah to comfort you in the difficult days ahead.

“May Allah elevate the Khalifa to the rank of the favoured in Aljanah and forgive his earthly infractions,” the ex-governor said.

The News Agency of Nigeria reports that the deceased was also a former Permanent Secretary in the state.

Edited By: Chioma Ugboma/Muhammad Suleiman Tola (NAN)
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Hamas chief calls for holding Arab, Islamic summits against Israel’s annexation




Ismail Haniyeh, politburo chief of Hamas movement, called on Tuesday for holding emergency Arab and Islamic summits to confront the Israeli plans of annexing lands in the West Bank.

The office of Haniyeh in Gaza said in an emailed press statement that he addressed letters to 40 Arab and Islamic countries.

“It’s necessary to back the Palestinian position which rejected the projects of settlement in the West Bank and the Judaizing of Jerusalem,” said the statement, which quoted Haniyeh as saying.

It added that Haniyeh stressed in the letters that they have to move as urgent as possible “to confront the Israeli annexation policy because it is a real danger to the present and future of Palestine as well as the Arab and Islamic states.”

“It is important to ensure a secure political and diplomatic network to defend the Palestinian project and make serious and unified positions that reject and illegalize the annexation plans,” said Haniyeh.

He also accused Israel of exploiting its attempts of normalization with some Arab and Islamic states “to implement its plans on the occupied territories of Palestine.”

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Islamic group tasks govts on protection, rehabilitation of rape victims



In a statement signed by its National Coordinator, Mr Tajudeen Alabede and  Director of Public Affairs, Dr Abdul-Wasi Moshood, the group described the rate of rape in the country as worrisome.

It condemned rape, and  urged  governments to ensure that  perpetrators would be adequately punished.

“We are particularly worried by the recent upsurge in the crime of rape in Nigeria.  Statistics released by the Lagos State Domestic and Sexual Violence Response Team a few days ago is alarming.

“It is, therefore, important that governments make more concerted efforts to protect and rehabilitate victims of rape.

“While stigmatisation of victims of rape should be a punishable offence, victims and their families should be encouraged to report the crime to appropriate government agencies.

“It is the rapist rather than the victim that should be shamed,” it said.

The  group noted that the statistics showed that from January 2020 to April 2020, a total of  529 rape and domestic violence cases were taken to court in Lagos State.

“The figure is for only Lagos State over a period of just four months.

“We dare say that those cases were merely the reported ones as many more cases of rape and domestic violence may go unreported by the victims and their families for fear of stigmatisation and for other reasons.

“We are horrified by the direction of the national conversation which in part blames victims of rape for the inhuman and criminal act.

”There can be no justification for rape under any circumstance,” it said.

According to the organisation,  rape is an act of violence that robs the victim of her dignity and sometimes her future and her life.

”Many victims of rape live with the attendant mental, physical, emotional and social trauma throughout their lives,” it added.

It described rape as a violation of the sanctity of life and the dignity of the human person.

The organisation said that the prevalence of violent behaviours in different parts of Nigeria in recent years pointed to deteriorating value system.

“We, therefore, call on the government, religious bodies, traditional institutions and women groups to provide leadership in addressing this ugly descent into the abyss, as a matter of urgent national importance.

“It is our submission that all organs of government and other critical segments of the society in Nigeria need to do more in their efforts to prevent rape and other crimes in the society.

“This makes campaign for value re-orientation imperative,” it said.

According to the group,  the security and welfare of the people are the duties of government.

“To this end, we call on the police and other relevant agencies of the executive arm of government as well as the judicial arm of government to ensure that offenders are brought to justice.

“Law enforcement agents should be trained to attend to victims with compassion and obtain their evidence in time.

“Cases of rape should be handled with dispatch, while convicted rapists, in addition to the appropriate punishment under the law, should be made to pay damages to their victims by way of restitution.

“In the same vein, the legislature should review the extant laws on rape with a view to determining the viability of the punishment for rape to serve as deterrent to any would-be rapist.

“A rapist is a potential murderer and should be treated as such,” the group said.

It commiserated with the families of recent victims of rape .

Edited By: Debo Oshundun/Ijeoma Popoola (NAN)
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