Business
Industrialist Lauds CBN’s Approval Of Non-Interest Banking
An Onitsha-based industrialist, Chief Rommy Ezeonwuka has commended the Central Bank of Nigeria (CBN) for sensitising Nigerians on the numerous benefits of the proposed non-interest banking system.
Ezeonwuka gave the commendation yesterday at a media briefing in Onitsha, Anambra, while speaking against the mounting opposition to the proposed Islamic banking system.
He said that the banking system was the only answer to the challenge of funding facing many small-scale entrepreneurs and businessmen who did not have the pre-requisite collaterals of conventional banks.
“The agitation by some leaders of thought is regrettable since they did not understand the working and system of the non-profit banking no matter under any name it comes.
“I am wondering why some short-sighted individuals should reject an interest free banking which can empower the crippled industries and agricultural investments of our people.
“These have been paralysed because of the shylock high interest rates on loans from the conventional banks,’’ he said.
Ezeonwuka, who is the owner of Rojenny Tourist and Games Village, also said that some of the people opposing the new banking system were doing that because of religious intolerance.
He urged Nigerians to live above religion intolerance and show genuine love for the country by embracing systems that had the capacity of improving the lives of generality of the citizenry.
“Opposing the non-profit or Islamic banking as it is being called due to religion connotation is just part of the negative attributes that we must do away with as a nation,’’ he said.