The SUKUK Roads
“…journeys are now faster” is what good roads are all about.
Friday, 7 December 2018.
If you recall some time ago, Christian Association of Nigeria (CAN) and some other antagonistic elements in the society were up in arms against the SUKUK bond just as they were against the Islamic Non-Interest Banking System now known as the Non-Interest Financial Institution (NIFI). The outrageous and unsubstantiated claim at the time was that it is an attempt to Islamise Nigeria. A lot of conspiracy theorists had a field day marketing their credo, running amok, they warned everybody the Muslims were once again plotting to Islamise Nigeria.
The SUKUK (Islamic bonds), structured in such a way as to generate returns to investors without infringing Islamic law (that prohibits riba or interest). Sukuk represents undivided shares in the ownership of tangible assets relating to particular projects or special investment activity.
The FGN’s Sukuk issuance is the first attempt by the FG to raise funds through the non-interest capital market. The Sukuk issue is targeted at infrastructure development and financial inclusion. Click here to learn more about the Sukuk.
Today, the roads are now safer and transportation is now smoother for all members of the public regardless of faith- or no faith.
MPAC, Nigeria observes with delight that the Government was not dissuaded or blackmailed into abandoning a viable option of rehabilitating a decaying infrastructure when the hate of those flamboyant islamophobes exactly matched their disinterest in the nation’s development. The (near)completion of these roads in the 6 geopolitical zones of the country is an important milestone that offers a better way of life to all Nigerians and hopefully important lessons in peaceful co-existence and national harmony for those antagonistic, divisive elements. It is good to see that this achievement was recorded in spite of the screaming and kicking of ardent Islamophobes whose only life ambition is to oppose anything that has Islam attached to it.
At the core of Islam’s message and its laws are the benefits Muslims serve humanity. While we encourage the antagonistic group and its foot-soldiers to have a positive outlook on life and have a deep reflection on the path they have chosen, the Nigerian Muslim community will continue to focus on the important messages of Islam and exact our means and teachings to serve the good cause of our nation.