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Showing posts from September, 2017

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Sukuk: CAN accuses FG of attempting to sell Nigeria to Islamic nations

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thecable.ng Sep 20, 2017 1:15 PM The Christian Association of Nigeria (CAN) says the issuance of the Sukuk by the Debt Management Office (DMO) is an attempt to sell Nigeria to Islamic nations. In a statement on Wednesday, the association said the introduction of “Islamic financing into a secular state is in violation of section 10 of the constitution”. Offer for subscription on the Sukuk, which opened on September 14, is expected to close on September 20. Patience Oniha, DMO director general, had said that proceeds from the bonds would be  used to finance the construction of 25 economic roads  across the six geopolitical zones in the country. But the association rejected the explanation of the government. “The recent floating of Sukuk bond by the federal government is not only sectional but illegal and a violation of the constitution. Every law that has been promulgated to back the Sukuk issuance and promote an Islamic banking system in Nigeria i...