Islamic Cleric Says Financial Principles, Security Catalysts To Economic Recovery 

By Joseph Sunday 

An Islamic Cleric, Alhaji Olayiwola Qudus has said that financial principles, policies and security are catalysts to witnessing and experiencing a total economic recovery in the Country. 

Alhaji Qudus stated the above while delivering the Ramadan lecture organised by the Nigeria Union of Journalists, NUJ, Ekiti State Council titled, “Unlocking Economic Stability in Nigeria, Leveraging on Islamic Principle”.

The Cleric, who is an islamic scholar from the Department of Languages and Linguistics, Bamidele Olumilua University of Science and Technology (BOUESTI) lamented the situation of the country despite its naturally endowed numerous natural resources.

He outlined some of the islamic principles which should be applied to include, free interest loan, zakat and sadakat which mandates the rich to pay certain percentages to the poor, mandatory debt repayment system, prudence management of public fund, among others.

The scholar also added economy of the Country will be stable if there is maximum security of lives and property as against the current prevailing security crisis in the country.

According to him, some of the factors responsible for economic instability include greed, indiscipline, corruption, extravagant spending among others.

In his goodwill message, the Chairman of Nigeria Union of Journalists, (NUJ) Ekiti State council, Comrade Kayode Babatuyi said the purpose of the lecture was to move closer to Allah for mercy in respect to the current situations in the country.

While noting that nothing is more powerful than prayer, he added that the lecture was to sensitise Journalists and the citizens on their personal roles in stabilizing the economy without always seeking the help of the government.