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  • PFN End-of-Year 2011 Congress: Apostle Zilly Aggrey says No to Gov. Sanusi CBN Investment & membership of Nigeria into Islamic Liquidity Mgt Corporation as Rev. Dr. Francis Nwogo Charges Pastors to do God’s Work and leave the crave for flattering Titles
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PFN End-of-Year 2011 Congress: Apostle Zilly Aggrey says No to Gov. Sanusi CBN Investment & membership of Nigeria into Islamic Liquidity Mgt Corporation as Rev. Dr. Francis Nwogo Charges Pastors to do God’s Work and leave the crave for flattering Titles

Pentecostal Fellowship of Nigeria Rivers State Chapter under the able leadership of Apostle David Zilly Aggrey held its end of the year Congress Meeting on 5th December 2011 at Royal House of Grace International Church, Port Harcourt. In attendance were clergies, heads of Churches, General Overseers, Bishops and ministers from different zones and the 23 local government areas of Rivers State. At the meeting which was enveloped with praises, worship, dancing with intercessory prayers for the Nation Nigeria, the Government, the security situation and the marginalized Christian brethren in the North of Nigeria and thanksgiving to God for the wonderful things God has done for the Christian Community in Rivers State.
In his exhortation, Rev. Dr. Francis Nwogo powered by the Holy Spirit reading from 2 Samuel 6:12 23 charged Pastors to do the work of Evangelism, stop the commercialization of the gospel, voodooism/occultic ministration within the Church and the crave for flattering titles that has assumed frightening dimension in churches today. Rev. Dr. Francis Nwogo, a Senior Minister, Advisory Council member of PFN in Rivers State and the Rivers/Bayelsa Coordinator of Christian Pentecostal Mission in Port Harcourt lament the so many abuses in Ministry that some little known Christian believers of few months and years in ministry has acquired various titles ranging from bishop, archbishop, apostles name them to get recognition and manipulate gullible public for selfish and commercial intent. He enjoined pastors to be faithful steward of the life changing gospel Jesus Christ. Rather than crave for flattering titles, pastors should do the work of evangelism as commanded by God that will elevate and bring recognition and reward from God on merit not self seeking titles.
On his part, speaking on the State of the Nation, Apostle David Zilly Aggrey, observed and took a critical analysis of four areas Churches and Ministers should strategically analyzed to enforce unity, orderliness and strategize to contend for the faith and possible threats as: weakness, strength, opportunities and threats. He laments obvious lack of orderliness, unity in the body. He condemned the security challenged posed by Boko Haram. Re-echoing the position of Christians in Nigeria as advocated by Pastor Ayo Oritsejafor, President, Christian Association of Nigeria, he posit that Christians shall resist any further killing, maiming of Christians and destruction of their properties, Churches anywhere in Nigeria. He frowns at the threat to lives and properties of Christians in the North where many families have become widows and widowers. He called for support in terms of prayers and relief materials that shall be made available to these brethren in the north so affected.
On Islamic banking and the recent activities of the CBN Governor Sanusi Lamido Sanusi, who took Nigeria into Islamic organization and invest Nigeria tax payers money in contrast to the constitution of Nigeria, Apostle Zilly Aggrey warn the Christians will not take it any more. He recalled that the,
“Central Bank of Nigeria (CBN) has formally joined International Islamic Liquidity Management Corporation with an initial investment of $5 million. The investment accords Nigeria the full membership of the body. What is not clear, however, is if the investment has the backing of the Presidency that has the power to approve such investment.” At the tail end of Chukwuma Soludo’s tenure, the CBN investment in Africa Finance Corporation became contentious as he was accused of not having Presidential approval for the investment of public funds in AFC. The matter was fully investigated.
As at March 2011, there are191 members of the IFSB comprising 54 regulatory and supervisory authorities, seven international inter-governmental organizations and 130 market players, professional firms and industry associations operating in 43 jurisdictions of which the Central Bank of Nigeria is one such regulatory body that has full membership status. By this development, Nigeria has fully embraced Islamic banking which the CBN had said was non-interest banking it was pursuing. The nine founding members of the IFSB are Bahrain Monetary Authority (now known as the Central Bank of Bahrain), Bank Indonesia, Central Bank of the Islamic Republic of Iran, Central Bank of Kuwait, Bank Negara Malaysia, State Bank of Pakistan, Saudi Arabian Monetary Agency, Bank of Sudan (now known as Central Bank of Sudan) and the Islamic Development Bank. The CBN Governor Sanusi Lamido Sanusi is a council member of the body. Other council members are Chairman, Mohammed Said Shahin Governor Central Bank of Jordan, Deputy Chairman, Rasheed M. Al-Maraj Governor Central Bank of Bahrain, Dr. Atiur Rahman Governor Bangladesh Bank, Haji Mohd Rosli Haji Sabtu Managing Director Autoriti Monetari Brunei Darussalam, Djama Mahamoud Haid, Sanusi Lamido Sanusi, Governor Banque Centrale De Djibouti. Other members of the council are Dr. Farouk El-Okdah Governor Central Bank of Egypt, Dr. Darmin Nasution Governor Bank Indonesia, Dr. Mahmoud Bahmani, Governor Central Bank of the Islamic Republic of Iran, Dr. Ahmad Mohamed Ali President Islamic Development Bank, Sheikh Salem Abdul-Aziz Al-Saud Al-Sabah Governor Central Bank of Kuwait, Dr. Zeti Akhtar Aziz Governor Bank Negara Malaysi.
Also serving as council members are Fazeel Najeeb Governor Maldives Monetary Authority, Rundheersing Bheenick Governor Bank of Mauritius, Sanusi Lamido Aminu Sanusi Governor Central Bank of Nigeria, Yaseen Anwar Governor State Bank of Pakistan, Sheikh Abdulla Saoud Al-Thani Governor Qatar Central Bank, Dr. Muhammad Al-Jasser Governor Saudi Arabian Monetary Agency, Ravi Menon Managing Director Monetary Authority of Singapore, Dr. Mohamed Khair Ahmed Elzubear Governor Central Bank of Sudan, Dr. Adib Mayaleh Governor Central Bank of Syria, Sultan bin Nasser Al Suwaidi Governor Central Bank of the United Arab Emirates
According to the Islamic Financial Services Board’s web site based in Kuala Lumpur, “Eleven central banks and two multilateral organisations on 25 October 2010 signed the Articles of Agreement for the establishment of the International Islamic Liquidity Management Corporation (IILM) marking their collaboration in a landmark global initiative that is aimed to assist institutions offering Islamic financial services in addressing their liquidity management in an efficient and effective manner. In addition, the initiative would facilitate greater investment flows for the Islamic financial services industry.
“The signatories of the IILM Articles of Agreement are governors and their representatives from the central banks or monetary agencies of Indonesia, Iran, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Saudi Arabia, Sudan, Turkey and the United Arab Emirates. The Islamic Development Bank and the Islamic Corporation for the Development of the Private Sector are the multilateral organizations participating. “The IILM initiative was facilitated by the Council of the IFSB in line with its mandates to: a) enhance and coordinate initiatives to develop instruments and procedures for the efficient operations and risk management; and b) encourage cooperation amongst member countries in developing the Islamic financial services industry.
“To this end, the IILM will issue high quality Shar?`ah-compliant financial instruments at both the national level and across borders, in an integrated manner, thereby enhancing the soundness and stability of the jurisdictions in which they operate. The IFSB is an international standard-setting organization with the objective to promote and enhance the soundness and stability of the Islamic financial services industry (IFSI) by developing global prudential standards and guiding principles for the IFSI, broadly defined to include banking, capital markets and insurance segments. The IFSB also conducts research and coordinates initiatives on industry related issues, as well as organizes roundtables, workshops, seminars and conferences. According to the Islamic body: “The IFSB has membership of international, regional and national organizations and market players who share its objectives. The IFSB welcomes organizations with similar aspirations to contribute their knowledge, expertise and resources as IFSB members. The IFSB has three categories of membership: Full, Associate and Observer.” According to the body, “Full membership is available to the supervisory authority responsible for the supervision of the banking industry, securities and/or insurance/Takâful industries of each sovereign country that recognizes Islamic financial services, whether by legislation or regulation or by established practice and international inter-governmental organizations that has an explicit mandate for promoting Islamic finance. “The Islamic Financial Services Board (IFSB) had in Washington on 7 October 2010 facilitated the signing of the Memorandum of Participation for the establishment of the International Islamic Liquidity Management Corporation (IILM). The primary objective of the IILM is to issue Shar?`ah-compliant financial instruments in order to facilitate more efficient and effective liquidity management solutions for institutions offering Islamic financial services (IIFS), as well as to facilitate greater investment flows of Shar`ah-compliant instruments across borders.
This initiative is in line with the IFSB mandates (as stated in its Articles of Agreement) to: a) enhance and coordinate initiatives to develop instruments and procedures for the efficient operations and risk management; and b) encourage cooperation amongst member countries in developing the Islamic financial services industry.
Following this disclosure, PFN Congress observed that the CBN Governor Sanusi activities are a threat to the unity of Nigeria and affront on Christians. Whereas the issue Islamic banking that Sanusi introduced and he is the chief promoter has not been resolved he is wanting to throw the nation into chaos. PFN demand the CBN Governor Sanusi should be made to explain and withdraw the membership of Nigeria from the Islamic organization forthwith. The Congress also condemned some of the Comedians who have made it the habit of denigrating the Church, Pastors and Christianity in their talkshows.The Congress end on festive mood with eating, dancing and a minute silent in honour late Chief Ojukwu.

Dr. Lewis Akpogena
08055059656
E-mail: akpogena@yahoo.com

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