The Chief Missioner of the Nasrul-Lahi-l-Fatih Society (NASFAT), Imam Abdul-Azeez Onike, has urged the Federal Government of Nigeria to always consider the feelings and religious dictates of people of faith in all its efforts to financially empower Nigerians. He emphasized that both Islam and Christianity strongly disapprove of interest-based loans.

Onike made this call in response to a statement attributed to the Vice President Kashim Shettima, who reportedly directed the Presidential Food Systems Coordinating Unit (PFSCU) to expedite the disbursement of the Federal Government’s ₦250 billion credit support for smallholder farmers at a single-digit interest rate. The directive was issued during the sixth meeting of the PFSCU Steering Committee, held at the Presidential Villa, Abuja recently.

Referencing the scriptures, Onike stated, “Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity…” (Qur’an 2:275), “Take no interest from him or profit, but fear your God, that your brother may live beside you” (Leviticus 25:36), and “[He] does not lend at interest or take any profit, withholds his hand from injustice, executes true justice between man and man…” (Ezekiel 18:8).

The Chief Missioner emphasized the negative consequences of interest, such as exploitation, inequality, unjust wealth distribution, an unsustainable economy, deterrence to production, and the undermining of social harmony.

He therefore enjoined the relevant government agencies to promptly convene a stakeholder forum where religious leaders could offer ethically sound advice, while also appreciating the Tinubu-led administration for its efforts to alleviate the suffering of the citizenry.