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Jos Market: The Controversy between Plateau State and Jaiz Bank

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Jos Plateau Market Jaiz Bank www.mathewtegha.com

There has been so much uproar unleashed on the national scene concerning the sponsorship of the rebuilding of Jos Main Market, Plateau State by Interest-free Jaiz Bank. Jaiz is the first Islamic Bank to start operation in Nigeria. This might be the reason its operations are still unclear in Nigeria.

Jaiz means permissible, admissible, proper, right. lawful, legal, just, valid, authorized, allowable, permitted, possible. Of course, these terms are subject to interpretation by whoever. Jaiz Bank has been operational in Nigeria since 2012 under Islamic Banking. Though the Bank’s strategic business focus is mainly on retail banking, Jaiz nevertheless offers corporate and commercial banking services.

Jaiz Bank Plc is therefore a financial services institution providing Islamic non-interest banking services for retail, commercial and corporate sectors in Nigeria. Please note that Islamic banking is an interest free banking system and is governed by the principles laid down by Islamic Sharia’h.

Countries such as Malaysia, Indonesia, Bangladesh, Jordan, Egypt and Turkey operate their financial institutions based on interest-free principles alongside conventional banks. Meanwhile, Islamic Banking operates in about 70 countries of the world and providing services to interested customers.

It is interesting to note that even in Saudi Arabian banking market, only four among the 12 local licensed banks are considered to be pure Islamic banks or fully-fledged sharia–compliant Banks. Interest Rate in Saudi Arabia averaged 3.48 percent from 1992 until 2022, reaching an all-time high of 7 percent in May of 2000.

Jaiz Bank is a financial institution in Nigeria operating under Islamic Banking Principles. Though none-interest by design, it is however not a humanitarian Bank or “soup kitchen.” There are rules of course. You cannot walk into the bank cup-in hand and expect to walk out with wads of naira notes or dollars without terms or collaterals.

Jaiz has a variety of loans available to customers to leverage on but the one in contention in Plateau state now seems to be the Project Financing/Constructing Loan. Under this option, you make a request, and they will agree to construct and sell the project to you at a cost-plus profit margin.

This is where the controversy on interest free-ness of Islamic banking comes into question. Infact, many Islamic scholars and intellectuals have kicked and are still kicking against the concept of interest-free banking. Scholars like Shiekh Assim Al Hakeem and Shaykh Haitham Al Haddad are known to have asserted that as long as there is profit making in the system, then the Interest-Free claim is an oxymoron. Shaykh Haitham, in particular, feels that Islamic Banking is heavily influenced by ideology rather than the need to help the poor. In the first place, the business must be profitable and with good credit history to attract the Bank’s loans.

The truth is that Islamic banking is about advancing Islamic objectives. And Jaiz Bank is unashamedly committed to being:
• 100% Shari’ah compliant
• Highly ethical, with best practice corporate governance and sound risk management framework.
• Proactive and innovative towards customer’s needs
• Best-practice operations and functional framework
• Customer-Centric
• Socially responsible
• Fair to all Stakeholders
The Bank also shows on its website that it will not be
• Religious bias
• Offer all things to all people
• Mediocre performer
• Imitate other banks
• Sacrifice Shari’ah principles for profit
Jaiz is a non-interest Bank but makes profit. The institution was founded in 2003, as Jaiz International Plc. On 11 November 2011, Jaiz International received a license from the Central Bank of Nigeria,to operate as a regional bank. On 6 January 2012, the institution commenced business as Jaiz Bank Plc in offices and branches in Abuja, Kaduna and Kano under the chairmanship of Alhaji (Dr) Umaru Abdul Mutallab(CON).

All members of the Board of Directors of Jaiz Bank are Muslims though people of other religious persuasions can patronize the Bank as customers.

The Non-Interest Bank, which offers almost all the services of conventional banks actually says on its website that it is an alternative financial service offering that is open to all, irrespective of race or religion based on the ethical principles of fairness, transparency and objectivity.

The catch here is that Islamic Banks do not give or receive interest, nor finance anything that is harmful to the society like alcohol, tobacco, gambling etc.

These objectives seemingly look harmless. However, on the Jos Market controversy, many people are picking holes in the sharing arrangement of the market stalls (60 for Jaiz and 40 % for Plateau) for a period of 40 years. I suspect that the controversy is not really about the stalls but the hidden charges – the fear of an Islamic agenda considering the sharia-compliance of the Bank. In a state which is about 95 % Christians, such concerns might, no doubt, influence business transactions.

The Plateau State Government and Jaiz Bank did not do their due diligence as well as effective strategy on upstream communication, especially stakeholder engagement/consultation at the inception of the loan. It therefore seems like negotiation by stealth as well as forcing a crunch of razor blades down the throats of Plateau people who are already upbeat on so many fronts and issues. Actually, a recent research conducted by some Islamic scholars based in Turkey and Malaysia has so far shown that there are still negative perceptions and skepticism about Islamic Banking among non-Muslims in Nigeria.

In this age of enlightenment, who can allay the fears of Plateau people on the hidden consequences of this financial transaction with Jaiz Bank which operates under the Islamic interest-free banking principles?

Please, quickly step forward for recognition.

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David Mark warns against use of state institutions to manipulate 2027 elections

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The National Chairman of the African Democratic Congress (ADC), Senator David Mark, has warned against the use of state institutions to manipulate the 2027 general elections, insisting that the credibility of the polls must be “non-negotiable”.

Mark also cautioned against intimidation, violence and other forms of electoral malpractice, saying the ADC expected the next general elections to be transparent, inclusive, peaceful and free from interference.

The former Senate President spoke on Wednesday in Abuja when he received a delegation from the International Republican Institute (IRI), which is in Nigeria as part of its assessment of preparations for the 2027 elections.

According to Mark, the integrity of the electoral process would be critical to determining whether Nigerians would have confidence in the outcome of the 2027 polls.

“For us in the ADC, the credibility of the 2027 elections must be non-negotiable. We expect the electoral process to be transparent, inclusive, peaceful and free from manipulation, intimidation and the abuse of state institutions,” Mark said.

He expressed concern over what he described as the recurring abuse of the electoral process by governments in power as well as non-state actors, warning that such practices could undermine democratic governance and erode public confidence in elections.

Mark made particular reference to the violence and intimidation reported during the recently concluded Osun State governorship election, which he said should serve as a warning ahead of the 2027 general elections.

He said reports indicated that no fewer than 30 people were killed during the election, describing the development as reprehensible and condemnable.

“Elections should not be treated as war or a do-or-die affair. There should be a democratic process through which citizens freely choose their leaders and advance their aspirations for development and a better quality of life,” he said.

The ADC chairman said his party was committed to an electoral process conducted in a secure environment where voters could freely cast their ballots without fear or intimidation.

He added that every vote must count and that mandates freely given by the electorate must be respected.

His comments come as political parties and other stakeholders intensify preparations for the 2027 general elections, with concerns over electoral violence, the neutrality of state institutions and the credibility of the electoral process already featuring prominently in discussions ahead of the polls.

Earlier, the IRI delegation said its visit was aimed at assessing the country’s level of preparedness and engaging key stakeholders on issues that could affect the conduct of the elections.

The African Regional Director of IRI, Jenai Cox, said the organisation was conducting a pre-election assessment mission to evaluate preparations for the 2027 polls.

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Town Planners Urge Urgent Action To Save Abuja’s Green Areas 

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By Jumoke Olaitan/ Angela Atabo

‎Nigerian Institute of Town Planners (NITP), Federal Capital Territory (FCT) Chapter has called for urgent action to halt the loss of green spaces in the FCT and enforce strict adherence to the Abuja Master Plan.

NITP Chairman in the FCT, Ms Queen Phillips, raised the alarm in Abuja on Wednesday, during the 2026 Town Planners Day, with the theme, “From Garden City to Concrete Jungle: Planning Livable Communities”.

Philips explained that the theme responds to growing public outrage over non-adherence to planning standards and the steady disappearance of green areas.

She noted that the event offered a platform for stakeholders to examine challenges confronting sustainable development in the FCT and craft practical solutions to preserve its environmental assets.

”The theme is therefore both timely and compelling, providing an opportunity for stakeholders to reflect on the challenges confronting the sustainable development of the FCT.”

“It will also help to collectively examine practical solutions for preserving its environmental assets and ensuring the creation of livable communities.

”The FCT Chapter of the institute has, at various times, demonstrated its commitment to addressing these concerns,” she said.

Phillips said that the chapter routinely sets up committees to investigate planning challenges triggered by intense development pressure.

She added that reports from the committees were forwarded to the national body for action, while observed infractions are reported to the Town Planners Registration Council of Nigeria (TOPREC).

She stressed that professional standards, ethical practice, and regulatory compliance remain non-negotiable for orderly development.

‎Ms Zaliha’u Ahmed, who chaired the event, reminded participants that the Abuja Master Plan was originally designed around a “garden city” concept, where nature and infrastructure coexist through sound land use and high quality of life.

However, she expressed deep concern over the conversion of public and institutional lands into private developments.

Ahmed cited specific violations, including the widespread felling of mature trees, the redesign of lands surrounding Jabi Lake Park, the conversion of a district hospital site for residential use, and illegal commercial activities taking over walkways and buffer zones.

She warned that these departures threaten the city’s identity and core plan, urging professional bodies to publish evidence-based positions on major violations, protect whistleblowers who refuse improper directives, and sanction members who facilitate illegal approvals.

Delivering the keynote address, Prof. Laraba Rikko of the University of Jos described Abuja’s shift toward a “concrete jungle” as an experiential crisis in urban planning.

Rikko acknowledged public skepticism regarding whether town planners even exist in the city, attributing this perception to a lack of visible planning impacts and urged professionals to demonstrate greater integrity and diligence.

”The theme reflects the tension between visionary planning and uncontrolled urban expansion, institutional intentions and implementation realities, as well as sustainable development and political, economic and demographic pressures,” she said.

Rikko reiterated that Abuja was explicitly conceived as a planned capital to prevent the chaotic growth seen in organic cities, with green belts, parks, and natural landscapes.

This, she said, serves as vital ecological infrastructure to absorb rainfall, regulate temperature, and mitigate climate risks.

Lamenting that these features were continually fragmented, degraded, or reallocated, Rikko pointed to unapproved building plans, weak enforcement, political interference, corruption, and a breakdown of professional ethics as core drivers of the decay.

She challenged built-environment professionals to take full accountability, emphasising that every official signature and approval either protects or undermines the capital city. (NAN)

Edited by Philip Yatai ‎

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