Sanusi Vindicated on Islamic Banking

Sanusi Lamido Sanusi
CBN Governor

The recent revelation by the Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi that 60% of the shares of the controversial Islamic Bank to by introduced in Nigeria are owned by the Igbos has agained boosted his integrity.

Sanusi made the disclosure when he appeared before the lower chambers of the National assenble to explain to the law-makers issues related to Islamic Banking and maximum withrawal level which have generated so much controversies.

If 60% of the Bank’s shares could be owned by Igbos, who undoubtedly are predominantly Christains, this shows that the bank does not discriminate against religion and ethnicity.

The unanimous approval of the non-interest banking by the law-makers again vindicated Sanusi against those opposed to the policy.

This is another stern fight which he has fought and won after the controversial revelation which he made sometimes in the past that 25% of the country’s budget is allocated to the National Assembly annually.

As a man of integrity, Sanusi refused to appologise as the law-makers demanded, insisting that he got his figures from reliable sources.

The former Governor of Abia State, Dr. Orji Uzo Kalu argues that the “revelation by the governor of Central Bank of Nigeria (CBN) about the overheads of National Assembly members is a pointer to the harm high salaries and allowances has done to our socio-economic development.”

Kalu further asks, “what kind of country could afford 25% of its overall overheads to be spent on the maintenance of its national legislators when its average citizen could hardly afford one meal a day?”

The final acceptance of the contentious Islamic Banking has revealed Sanusi’s capability in the management of crisis.