SUKUK Bond & Sharia Matters Arising – Just Before Sharia In Nigeria: The 2016 Budget Is Passed

WHY GOD IS KEEPING ME ALIVE TO BEHOLD THE MANIFESTATION OF MY WARNINGS SINCE 2015— Tony Nwaezeigwe

AN OPEN LETTER TO THE NATIONAL ASSEMBLY

October 2016

SUKUK BOND & SHARIA MATTERS ARISING – JUST BEFORE THE 2016 BUDGET IS PASSED

Nwankwo Tony Nwaezeigwe, PhD, DD
Odogwuibusa@gmail.com

His Excellency, the Senate President,
Federal Republic of Nigeria;

The Rt. Hon. Speaker,
Federal House of Representatives,
Federal Republic of Nigeria

The Nigerian Civil War and Genocide Study Network, having viewed with suspicion certain policies of the present APC-controlled Federal Government which not only smack of derailed campaign promises and constitutional violations on the Fundamental Rights of citizens, but tend to deface the secularity of the Federal Republic of Nigeria, wish to make the following statement with regard to the sanctity of the 1999 Constitution of the Federal Republic of Nigeria:
We have watched with subdued disenchantment how the various organs of the society which should have presented constructive opposition are being cowered into either submission or forced into political comatose by the reckless brandishing of the sword of anti-corruption campaign. We have seen a situation where this sword of anti-corruption is exclusively pointed at the Members of the opposition Peoples Democratic Party (PDP) and supporters of former President Goodluck Jonathan, whereas there is no denying the fact that quite a reputable number of the members of the present ruling APC are generically PDP in political foundation.
We have also watched how the Roman Catholic Church Leadership which became the spiritual alter ego of President Muhammadu Buhari’s election campaign appears to be over-whelmed by the type of CHANGE they Episcopally helped to enthrone in Nigeria. Much we appreciate the Roman Catholic Church leadership’s latest concern over the twisting face of this CHANGE, however, it is evident that, concerning this serious matter of SUKUK BOND nothing has yet been heard from His Eminence Cardinal Anthony Olubunmi Okogie, John Cardinal Onaiyekan of the Metropolitan Archdiocese of Abuja, Archbishop Ignatius Kaigama of the Catholic Bishops Conference of Nigeria and the vibrant Bishop Martin Kukah of the Caliphate Diocese.
However, the Nigerian Civil War and Genocide Research Network do not wish to turn a blind eye to this apparent wind of change that has turned into a cyclone of political nightmare. Hence we present the following as our position with regard to certain Fundamental Human Rights policies of the present APC- led Federal Government and urge the National Assembly to take decisive actions of redress in accordance with the provisions of the 1999 Constitution of the Federal Republic of Nigeria.

It should be recalled that part of the major campaign issues of concern in the 2015 General Elections which border on the religious character of the Federal Republic of Nigeria was the fear that the then APC Presidential candidate and now the President and Commander-in-Chief of the Federal Republic of Nigeria, General Muhammadu Buhari would advance the Nigerian nation further into the murky waters of religious conflict through the introduction of the Islamic principles of Sharia.

We state this mindful of the fact that the 1999 Constitution of the Federal Republic of Nigeria, which remains the sacrosanct instrument of governance in the Federal Republic of Nigeria places no particular religion either above it or above any other religion. Chapter 1, Section1, Sub-section 1 of this Constitution is explicit on this position: “This Constitution is supreme and its provisions shall have binding force on all authorities and persons throughout the Federal Republic of Nigeria”.

It is therefore incumbent on those who hold the fountains of governance in this Federal Republic of Nigeria– a multi-religious and multi-ethnic nation to place any injunction of the Holy Bible, the Holy Quran or Traditional African Religion that runs contrary to the collective interests of the nation below the provisions of the 1999 Constitution of the Federal Republic of Nigeria for the interest of peace, security and unity of the Nigerian nation. Any Nigerian leader, whether political, religious or traditional who does not accept this binding provision of the Nigerian constitution does not wish the nation peace, unity and progress; such a leader does not love the citizens of this county.

We make this declaration because of our fears that the current APC-led Federal Government of Nigeria is making frantic attempts by their exclusive Islamic-bound policies to demystify the jealously-guarded secularity of the Nigerian nation.

Part II, Chapter IV, Section 42, Sub-section I (a) and (b) clearly puts the card on the political table of our Excellent Senators and Right Honourable Members of the House of Representatives to either justify their integrity as Law-makers of the Federal Republic of Nigeria, or leave the room for the citizens of this nation to question such integrity.

In the words of this provision: A citizen of Nigeria of a particular community, ethnic group, place of origin, sex, religion or  political opinion shall not, by reason of only that he is such a person–

be subjected either expressly by or in the practical application of, any law in force in Nigeria or any executive or administrative action of the government, to disabilities or restrictions to which citizens of Nigeria of other communities, ethnic groups, places of origin, sex, religious or political opinions are not made subject, or

be accorded either expressly by, or in the practical application of, any law in force in Nigeria or any such executive or administrative action, any privilege or advantage that is not accorded to citizens of Nigeria of other communities, ethnic groups, places of origin, sex, religious or political opinions.

Our history is replete with incidents of not only crass violations of this provision of the Nigerian Constitution but attempts to paint the entire face of this nation with the Islamic Green in spite of the multi-religious, multi-ethnic, multi-national and multi-cultural character of the Federal Republic of Nigeria, which in each occasion not only smeared the character of the nation’s secularity but even went further to threaten the peace, security, unity and sovereignty of the nation.

Ironically in all these cases none had in any form assumed the vehicle of peace, stability, unity, and economic development of the nation. Instead in each occasion the nation had witnessed untold sad experiences of uncountable loss of lives and property and a widening gulf in inter-ethnic and inter-religious relations.

First was the Mohammed Marwa Maitatsine Fundamentalist Islamic uprising in Kano during the President Shehu Shagari in which the “One who damns” sought to enthrone the now evident Boko Haram culture of Islamic violence.

Then came the irreconcilable smuggling of Nigeria into the membership of the Organization of Islamic Conference (OIC) later re-named Organization of Islamic Cooperation under President Ibrahim Badamosi Babangida. Agreed that President Babangida forced the OIC into the throat of Nigerians by the will of gun-powder, the fact remains unchanged that Nigeria’s membership of OIC contravenes by every norm, colour and sense of nationalism the sacred Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria.

The opening “Declaration” of the Charter of the Organization of Islamic Cooperation (OIC) clearly states: In the name of Allah, the most Compassionate, the most Merciful
We the Member States of the Organisation of Islamic
Cooperation, determined: to acknowledge the Conference of Kings, Heads of State and Government of the Member States convened in Rabat from 9 to 12 Rajab, 1389 H, corresponding to 22 to 25 September 1969, as well as the Conference of
Foreign Ministers held in Jeddah from 14 to 18 Muharram 1392 H corresponding to 29 February to 4 March 1972; to be guided by the noble Islamic values of unity and fraternity, and affirming the essentiality of promoting and consolidating the unity and solidarity among the Member States in securing their common interests at the international arena;

Article 1(2) states: To safeguard and protect the common interests and support the legitimate causes of the Member States and coordinate and unify the efforts of the Member States in view of the challenges faced by the Islamic world in
particular and the international community in general;

Article 1(8) puts it thus: To support and empower the Palestinian people to exercise their right to self-determination and establish their sovereign State with Al-Quds Al-Sharif as its capital, while safeguarding its historic and Islamic character as well as the Holy places therein;

Article I (9) on the other hand states inter alia: To strengthen intra-Islamic economic and trade cooperation; in order to achieve economic integration leading to the establishment of an Islamic Common Market;

For Article I (11) it is a clear case of: To disseminate, promote and preserve the Islamic teachings and values based on moderation and tolerance, promote Islamic culture and safeguard Islamic heritage;

Finally comes the climax– Article 1(12): To protect and defend the true image of Islam, to combat defamation of Islam and encourage dialogue among civilisations and religions;

We want the National Assembly to explain to the citizens of this nation how the above Provisions of the OIC Charter could be reconciled with the Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria. What inheritance do the Christians or African Traditional Religious adherents of this nation have within the framework of OIC?

Again under the successor-regime of General Sani Abacha Nigerians were again greeted with the nation’s membership of the exclusive Islamic Economic Club of nations called D-8 Organization (Development-Eight Islamic Organization) on June 15, 1997, with Bangladesh, Egypt, Indonesia, Iran, Malaysia, Pakistan, and Turkey as co-members.

We want the National Assembly to again explain to the citizens of this nation how Nigeria’s membership of D-8 could be reconciled with the Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria.

Under President Olusegun Obasanjo, Nigerians were again greeted with the introduction of Sharia Laws by many States of Northern Nigeria beginning with Zamfara State, just to undermine the secularity of Nigeria under the Presidency of a Christian. Yet whenever cases of criminality come up against the same pro-Sharia leadership they chose instead to be tried in the same secular court which they sought to replace with Sharia. Is it not a clear case of crass hypocrisy and haram in Islam that the former Zamfara State Governor turned Senator Ahmad Sani Yerima whose Sharia court ordered the amputation of the right hands of two men– Auwalu Abubakar and Lawali Musa for Stealing a bull allegedly worth One hundred and thirty thousand Naira (N130, 000) should be arraigned before a High Court in Gusau, the same Zamfara State for allegedly diverting over One Billion Naira appropriated for the renovation of a dam to other uses?

Does this not contravene the Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria?

Under President Goodluck Jonathan a Christian devoted, like in the case of President Olusegun Obasanjo, to the maintenance of the secular character of the Nigerian nation, Nigerians were greeted with the insurgency called Boko Haram. We need not re-state the fact that at the primary stage of the insurgency many Northern leaders of Muslim extraction supported Boko Haram in so far as it would lead to the end of President Goodluck Jonathan’s administration. But we cannot foreclose the fact that part of the same Northern leadership that accused President Goodluck Jonathan of killing members of Boko Haram have themselves inherited the same policy of killing the same members of Boko Haram as Nigeria’s leaders today.

Now under President Muhammadu Buhari, Nigerians are again greeted with same wind of crass policies of Islamization that clearly violate the Golden Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria. Like the cases of OIC and D–8, President Muhammadu Buhari again dragged Nigeria into the 33-member exclusive Muslim military alignment under the leadership of Saudi Arabia. The question here is, what other objectives in military alliance does Nigeria under President Muhammed Buhari intends to achieve which Nigeria’s military alliances under ECOWAS and AU could not achieve?

The National Assembly should tell the citizens of Nigeria if the membership of this exclusively Islamic Saudi Arabia-led military alliance does not contravene the Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria?

From the Islamic Military Alliance Nigerians are again faced with the Islamization of the secular economy of the nation through the introduction of the exclusively Islamic Sukuk Bond as means of financing the national budget, the operations of which must comply with the provisions of Sharia laws.

We want to state categorically that the recent application of the Sukuk Bond in Osun State is only a guinea-pig political therapy that was intended to cower other people into subtle submission to the jihadist intentions of the Sukuk Bond. We are not unaware of the religious pendulum of Governor Rauf Aregbesola’s policies right from the time of his activities as both the Hon. Commissioner of Works in Lagos State and Grand Patron of the Islamic organization– Nasrul-Lahi-L-Fatih Society (NASFAT), to his present role as the Executive Governor of Osun State. That he has chosen to be the guinea-pig of Sukuk Bond did not therefore come to us as a surprise.

But we must state in clear terms that the Sukuk Bond is not acceptable as a collective economic therapy for all the citizens of Nigeria, particularly in the light of not only the provisions of our constitution but for the cardinal reason that Nigeria being a multi-religious, multi-ethnic, multi-cultural and multi-national in character cannot endure the naked superimposition of one particular religion and culture over and above the others.

We want to further state that not even the reconstruction of the Boko Haram-ravaged Northeastern States will justify the institution of the Sukuk Bond. The reason is obvious: We are being told that the over 20 percent Christian citizens of Borno State, the over 15 percent Christian citizens of Bauchi State, the nearly 55 percent Christian citizens of Gombe State, the nearly 70 percent Christian citizens of Adamawa State, and the over 80 percent Christian citizens of Taraba State will have their landed heritage and every other asset accruing from their ancestral land mortgaged under Arab and Islamic neo-colonialism in perpetuity. This is the plus and minus of the principles of the Sukuk Bond. A reincarnate feudal economic plan in the garb of modern Arab and Islamic imperialism.

According to Mohd Nazri Bin Chik– Member of the Sharia Supervisory Council of Amana Bank and Head of Sharia Division of Bank Islam Malaysia Berhad, “Funds raised [under Sukuk] must be used for Sharia compliant (halal) activities”, or as Latham and Watkins put it: “the assets or businesses underlying the Sukuk must be Shariah compliant….” The question here again is does the introduction of Sukuk Bond into Nigeria’s Federal national budgetary system not the imposition of Sharia economy on Nigeria and thus an action in the process of Islamization?

But the most underlying principle of Sukuk Bond is not just about borrowing but on its neo-colonial precept of “if I provide you a loan to finance a project I automatically become a joint-owner of that project. It is therefore not just about paying the accruing interest or paying back the loan”. To put it again in the undiluted words of Bin Chik: “Sukukholders have a right to the ownership of the underlying asset and its cash-flows”. Financing any aspect of Nigeria’s budget through the Sukuk Bond would definitely mean allowing for the joint ownership of the asset or project called the “Federal Republic of Nigeria” with the Arab issuing Houses.

We should not forget that not every industry is permitted under Sharia laws to be financed under the Sukuk Bond. And here in Nigeria most of these Sharia prohibited industries are strong economic back-ups to Nigeria’s mono-petroleum economy.

According to Faleel Jamaldeen : The first test a sharia scholar or fund manager applies when considering whether a company is sharia-compliant focuses on the company’s core business. If the company’s business centers on prohibited activities, the company is out — period; it doesn’t even make it to the financial round. Prohibited industries and activities per sharia include the following:

Conventional financial services that feature transactions based on interest, speculation, and/or gambling: This criterion means that conventional banks, investment companies, insurance companies, and other financial institutions are considered noncompliant.

Certain food and beverage industry sectors: Companies whose core businesses involve alcohol, pork products, or other meat that’s not slaughtered according to sharia law aren’t considered compliant.

The tobacco industry and activity related to illegal drugs: In the past, tobacco use was a source of some controversy and confusion in the Muslim community. Now, however, most sharia scholars agree that the use of tobacco and investing in the tobacco industry are prohibited. And of course, illegal drugs (and any illegal activities, for that matter) are off limits.

Gambling: This prohibition means that an Islamic fund can’t invest in casinos, online lotteries, lotto draws, and betting transactions.

The production of weapons of mass destruction (WMDs): What the West refers to as collateral damage is considered the killing of innocents per Islam, and it’s forbidden. Therefore, sharia forbids the production of WMDs.

Certain sectors of the entertainment industry: Sharia prohibitions apply to adult entertainment products, including magazines, videos, audio recordings, websites, and all methods of distributing pornography. The same prohibition applies to erotic arts. In addition, certain types of non-Islamic music and cinema are prohibited.

Cloning: This example demonstrates a crucial point: Islamic scholars must continually make decisions about the compliance status of new technologies and industries. Obviously, the prohibition against cloning activity is a fairly recent decision, and the prohibition of cloning could possibly change depending on future circumstances.

Groups of companies with subsidiaries that engage in activities prohibited by sharia also are excluded from Islamic investment funds. For example, consider a hotel (owned by a large corporation) that derives a substantial amount of its income from a nightclub or casino that is prohibited per sharia. Because the profits from this nightclub or casino impact the overall profit of the corporate group, an Islamic fund can’t invest in the group as a whole.

From the above definition of prohibited industries/items under Sukuk Bond, the Federal Government under President Muhammadu Buhari is informing Nigerians that Nollywood film industry with all its teaming work-force and which under President Goodluck Jonathan’s regime helped to project Nigeria’s economy to first ranking in Africa should be closed. We are also being informed that all Breweries in Nigeria, Distilling companies, Tobacco companies, Insurance and Betting companies among many others should be closed.

We are also not unaware that the recent import prohibition policy of the present Federal Government clearly underlines this attempt to be Sukuk Sharia compliant. This is evident by the recent announcement of what Nigeria Customs Service described as “Goods absolutely prohibited”, which include: Coupons for Foreign Football pools or other betting arrangements, indecent or obscene prints, painting, books, engraving or any indecent or obscene articles, piece goods and all other textiles including wearing apparel, hardware of all kinds’ crockery and china or earthenware goods bearing inscriptions (whether in Roman or Arabic characters) from the Koran or from the traditions and commentaries on the Koran, Spirits, Brandy, Gin, Perfumed Spirits Rum, and Whiskey.

We want to state categorically clear that any application of the Sukuk Bond to the Budget of the Federal Republic of Nigeria will not be in the best and overall interest of the Nigerian nation. The Nigerian Civil War and Genocide Research Network therefore wishes to demand from the National Assembly a total rejection of any attempt by the Federal Government to finance the 2016 or any other future budget of the Federal Republic of Nigeria with the support of Sukuk Bond. Any attempt to do the contrary clearly contravenes the Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria.

We want to conclude by stating that the idea, principle and practice of corruption are not restricted to financial impropriety as the present APC-led Federal Government tends to make Nigerians accept. Any action by any person in Government which stands defined in principle as “dishonesty” or which clearly contravenes the Provisions of Part II, Chapter IV, Section 42, Sub-section I (a) and (b) of the 1999 Constitution of the Federal Republic of Nigeria is an act of corruption.

When APC promised to provide millions of employment opportunities to Nigerian citizens but only succeeded in enforcing policies that instead created millions of unemployed citizens, is that not an act of corruption?

When APC promised to pay five thousand naira monthly allowance to unemployed youth and later turn around to tell Nigerians that they cannot provide free money to lazy people, does that not interpret to corruption?

When we have a Federal Government structure that is dominated by one sect of religious adherents at the detriment of the others, does it not translate into corruption?

Your Excellency, The President of the Senate of the Federal Republic of Nigeria, the Rt. Honourable Speaker of the Federal House of Representatives, let us stand up for once to call a spade a spade and speak the truth to ourselves. It is not a matter of melodramatic fight against corruption, combating Boko Haram, suppressing the Independent Peoples of Biafra (IPOB) or infesting Gbaramatu with stern-looking military personnel to intimidate Ijaw militants into submission. Our leaders must create through their policies the enabling political environments that breed a common sense of national identity, inclusive nationalism and respect for our diverse historical, cultural and religious backgrounds. If this is true of the present regime I leave it to your true judgment.
Odogwu N. Tony Nwaezeigwe, Ph.D
Coordinating Director of Research
Cc:     Executive Governors, 36 States of the Federation.

NewsChristian Network

Courtesy: NSCEA
Speakers of State Houses of Assembly, 36 States of the Federation