News
Muslim Group Reacts to Suit to Remove Arabic from Naira

Muslim Rights Concern (MURIC), Nigerian Islamic human rights organization, has described the suit challenging the Arabic inscription on the Nigerian currency (naira) as acrobatic religiosity.

MURIC made the assertion on Monday while responding to a suit filed by Malcolm Omirhobo, a Lagos-based lawyer.
Prof. Ishaq Akintola, director and founder, MURIC in a statement, said that “Omirhobo’s approach is not only naive, it is pedestrian and kindergarten. This suit against Arabic on naira manifests acute desertification of religious tolerance, exhibition of undiluted acrobatic religiosity, NAFDAC-registered gymnastic spirituality and Oxford cum Harvard-certificated ignorance”
Omirhobo had argued that the Arabic inscription on naira notes portray Nigeria as an Islamic state contrary to the country’s constitutional status of a secular state.
The lawyer also filed a similar suit against the Nigerian Army seeking the removal of Arabic inscriptions from its logo.
The cases are being heard before Justice Mohammed Liman at the Lagos High Court.
But according to MURIC: “How many times do we need to tell our Christian neighbours that Nigeria is not a secular but a multi-religious state. A secular state is one that does not recognise religion as in communist states. But Nigeria recognises all the religions in the country and the Constitution also begins with the words ‘under God’. Secular states do not recognise the existence of God.
“The Constitution of the Federal Republic of Nigeria 1999 says inter alia at its very beginning, ‘We the people of the Federal Republic of Nigeria: having firmly and solemnly resolved : to live in unity and harmony as one indivisible and indissoluble sovereign Nation under God…’ So how can Nigeria be a secular state when we are ‘under God’? In addition, nowhere in the whole constitution was the word ‘secular’ ever used and we challenge anyone who can find that word from the constitution to mention the chapter, section and sub-section.
“Seeking to remove Arabic from the naira is the height of ignorance because Arabic is just a language like English or French, not a religion. By the way, what is on the naira is not even Arabic. It is ‘Ajami’ using Arabic letters as a form of transliteration. Even if Omirhobo single-handedly succeeds in removing Arabic from the naira, is he going to remove the numerals 5, 10, 100, 1000 indicating the denominations as well? If he cannot, then he still has a long way to go because even those numbers are Arabic.
“The numerical system (1, 2, 3, 4, etc) were invented by a Muslim mathematician by name Alkhawarizmi (died 850) in the 9th century. Nay and more than that. Whereas ancient Greeks had men like Plato, Aristotle, Euclide, Thales, Theodocius, etc whose scientific theories only managed to survive their times and Europe boasts today of scholars like Nicholas Copernicus, Francis Bacon, Galileo Galilei, Rene Descartes and Isaac Newton with their moribund and Godless postulates, the list of renowned Muslim scientists is endless.
“The truth is that religious fanatics have grown paranoia about Islam and they arrogate the Arabic language to the religion alone whereas this is not true. Their hatred for Islam and the Muslims is transferred to the Arabic language. This transferred aggression beclouded their perspicacity to the extent that they fail to realize that Islam is not synonymous with Arabic language.
“For instance, Israel’s currency has Arabic inscription on it. Nigerian Christians who go on pilgrimage to Jerusalem every year spend Israel’s money and see Arabic on it. Did they tear it into pieces in anger? They did not ask the Israeli authorities to remove the Arabic on their currency but when they return to Nigeria they maintain their hardline opposition to Arabic on naira. Where is objectivity? Is this not articulated religiosity?
“Again, hardly would any imported electronic gadget enter Nigeria without its manual containing an Arabic section. That is business sense, not religion. But Muslim-haters are swayed by emotion and they cannot separate the wheat from the chaff. Common sense is not so common. Of course there are still Christians who are moderate, liberal and realistic. They are the few exceptions who will not allow themselves to be led by the nose.
“One major argument against the removal of Arabic from the naira is that a large percentage of the Nigerian population will be cut off from our monetary system if Arabic is removed from the naira because Arabic is one of the local languages in Nigeria. It is used by the Shuwa Arabs in Borno State. Therefore Arabic cannot be a foreign language.
“Furthermore, the Bible used by Christians in Israel, Egypt, Palestine, Libya, Syria and other Arab countries are printed in Arabic language only because that is the only language they understand. Does that make the Bible an Islamic Bible? Their church services are conducted in Arabic. Have those churches become mosques?
“Interestingly enough, God is called Allah in the Arabic Bible. If Arab Christians want to say ‘God is great’, they also say ‘Allahu Akbar’. To thank God they say ‘alhamdulilah’ just like Muslims. The population of Palestine is 12 million and 7% (about 840,000) of this number are Christians. Yet the language of this 7% is Arabic. Perhaps Omirhobo will like to apply to the International Court at the Hagues to reject them as Christians because they speak Arabic?
“Omirhobo’s argument that Arabic on naira notes portrays Nigeria as an Islamic state holds no water because if Arabic is Islam, then English is Christianity. Hence if Arabic on the naira note is Islamisation, non-Arabic letters on the same naira is Christianisation. By extension, if the use of Arabic is Islamisation, the use of English language in Nigeria, particularly as a lingua franca, is the mother of all christianisation.
“For equity, therefore, Nigeria should have two official languages: Arabic and English with priority and emphasis in that alphabetical order. But in their magnanimity, tolerance and wisdom, Nigerian Muslims have not come forward to demand that Arabic should be Nigeria’s second official language. For that reason alone, the plaintiff’s request for the removal of Arabic from the naira is frivolous, petty, selfish, myopic and parochial.
“Perhaps the plaintiff thinks Nigerian Muslims were the ones who initiated the inscription of Arabic on both the army badge and the naira notes. Omirhobo needs to be told that even the colonial masters inscribed Arabic on the currency printed by Britain and used in Nigeria. The words: ‘pound daya’, i.e. one pound was inscribed on colonial currency. Omirhobo may therefore need to sue the Queen of England.
“To continue along the lanes of history, it was not even Nigerian Muslim leaders who brought the idea of Arabic in the Nigerian currency in post-independence Nigeria. The man who initiated it was a Christian, a Urhobo officer by name General David Akpode Ejoor (rtd). He was the one who introduced the Arabic inscription and the Star emblem into the Nigeria Army crest. He was given the assignment and research led him to pick the Arabic words ‘nasrun minallahi’ (meaning ‘victory is from God’) and a committee made up of three ministers of the First Republic : Muhammadu Ribadu (Defence), Festus Okotie-Eboh (Finance) and Yar’adua (Works and Housing) approved his choice. Ejoor confirmed this in his book ‘Reminiscences’ (page 16).
“The Christian who took the Central Bank of Nigeria to court claiming the country has been Islamized because of the Arabic inscription on the naira note failed to see how heavily Nigeria has been Christianized by observing Saturday as a public holiday because of the Seventh Day Adventists and Sunday because of other Christians. But the Muslims are not given any day at all.
“MURIC appeals to Nigerians not to allow the fear mongers and merchants of hate continue to spread fear and sow discord among us. Many of those saddled with the task of uniting us have become instruments of division. Ex-President Jonathan is an example. He removed Arabic from the naira because he listened to hate preachers whom he took along on his futile but numerous trips to Jerusalem. They indoctrinated him into believing that Arabic on the naira implies Islamisation. Although he saw Arabic on Israeli currency on his trips to Jerusalem, yet he swallowed the lie hook, line and sinker. Of course it cost him his much-coveted second term because his action had been rightly interpreted as anti-Muslim.
“We charge Nigerians to open up their minds in order to avoid becoming victims of accidental civilisation or, worse still, educated illiterates. Arabic is not Islam and Islam is not Arabic. One is a language, the other is a religion. Let us learn to understand, to tolerate, to give, to forgive and to love.”
News
DataPro Upgrades Dangote Cement’s Credit Rating to AA+

DataPro Rating Agency has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s strong financial performance, market leadership and ability to meet its financial obligations despite Nigeria’s challenging economic environment.

In its latest rating report, the technology-driven credit rating agency also affirmed Dangote Cement’s short-term rating at A1, with a Stable Outlook. The ratings are valid until June 16, 2027.
DataPro said the upgrade reflects the cement maker’s sustained financial strength, resilient operating performance and dominant position in Nigeria and across Africa.
According to the agency, the assessment followed a comprehensive review of the company’s capital base, earnings, liquidity, corporate governance, regulatory compliance and the sustainability of its financial performance over the medium to long term.
It noted that Dangote Cement’s strong brand, leading market share, solid earnings, robust asset base and experienced management continue to strengthen its ability to meet financial commitments on time.
The agency also highlighted the company’s outstanding financial performance in 2025.
According to the report, Dangote Cement posted N4.31 trillion in revenue during the year, representing a 20 per cent increase from the previous year. Profit before tax more than doubled, rising 109 per cent to N1.53 trillion, driven by higher sales, improved operating efficiency, lower finance costs and a stronger capital structure.
DataPro said the AA+ long-term rating indicates low credit risk and reflects excellent financial strength, business profile and operating performance relative to its rating benchmarks.
It added that the A1 short-term rating signifies good credit quality and shows that the company has a strong capacity to meet its short-term financial obligations as they fall due.
The rating agency, however, noted that the credit rating has a maximum shelf life of 12 calendar months in line with international best practice and should be used only as a reference, not as an offer to trade in securities or as a substitute for investors’ independent judgement.
News
Xora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty

Xora Finance has announced it will no longer consider job applicants from Nigeria.

Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
News
How Ponzi Scheme Victims can Seek Legal Remedies — Lawyers

Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.

A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
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