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Godwin Emefiele Elected Chairman of International Islamic Liquidity Management Corporation



godwin-emefiele-iilmThe International Islamic Liquidity Management Corporation (IILM) has elected governor of Central Bank of Nigeria (CBN), Godwin Emefiele as its Chairman.

A statement by  CBN’s Acting Director, Corporate Communications, Isaac Okorafor said that that this was disclosed on Thursday, December 15, 2016 in Jakarta, Indonesia.

The statement added that by this development, Emefiele is also the Head of the General Assembly of the financial body comprising of nine countries and Islamic Development Bank with headquarters in Kuala Lumpur, Malaysia.

IILM is an international institution established by central banks, monetary authorities and multilateral organisations to create and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

By creating more liquid Shari’ah-compliant financial markets for institutions offering Islamic financial services (IIFS), the IILM aims to enhance cross-border investment flows, international linkages and financial stability.

The body’s major mandates include developing a robust Islamic liquidity management as a catalyst for cross-border financial linkages and facilitating effective cross-border liquidity management instruments for institutions that offers Islamic financial series.

The organization is also charged with the responsibility of enabling a future global finance industry with greater connectivity, stability and sophistication.

The body, which was established in 2010, is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations.

The current shareholders comprise of central banks and monetary authorities of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank.


  1. Klaire

    December 17, 2016 at 11:58 am

    So this was what Buhari was cooking? Shame!

  2. Mrs chidukane

    December 17, 2016 at 1:36 pm

    Hmmmm, interesting. So this was the plan? So we are no more a secular state abii? So disappointed in myself.

  3. tunmi

    December 17, 2016 at 1:59 pm

    Can you guys read? It’s an international organization. It’s basically a bank that loans out to its members on a Shariah-abiding term. It’s another money source for Naija, if they use it wisely

    My question is… Can he still keep his job as CBN governor? The same goes for Minister Amina Mohammed. Will she be keeping her ministerial job or will she be resigning.

    • Marlvina

      December 18, 2016 at 4:57 pm

      Bank o, organisation or market. What’s our business there? Why Nigeria? Why are several other countries not listed?

  4. The Real Oma

    December 17, 2016 at 2:03 pm

    What i want to know is why?

  5. Lailatu

    December 17, 2016 at 3:29 pm

    Emm…..tell me again why we’re in this organization?

  6. horpsy

    December 17, 2016 at 4:45 pm

    This is not good. AAHHHAHAH! absolutely not right.

  7. Mo

    December 17, 2016 at 4:55 pm

    Hmmm… sad….

  8. Bimbo

    December 17, 2016 at 5:50 pm

    7 comments and the word ” islamization” hasn’t come up ? I’m impressed.

  9. Wake Up Nigeria

    December 17, 2016 at 6:47 pm

    Nigerians wake up!!!!! Don’t you see what is going on? Your religious fanatic President has enlisted Nigeria in several Islamic organisations that have an impact on the financial, economic, military and even social development of Nigeria! Buhari has listed Nigeria as an Islamic nation in all these organisations (too numerous to mention) and Nigeria is now officially a member of the league of Muslim countries cooperating on all these levels and even in the exchange of military intelligence in the guise of fighting terrorism. This one is only one of them! Nigeria is being Islamized right under your noses!!! Wake up and do your research and start askibg questions and start protesting!!! The future of the next generations are being sold to Islam!!!!! Nigeria is not a Muslim country so what is Nigeria doing in this Islamic financial institution that is governed by Islamic laws and made up of only Muslim countries apart from Luxembourg which is there to govern their international practice? What is Nigeria doing in the Arab League? Why is Nigeria a member of the Islamic Coalition that is made up of only Arab / Muslim countries? What is Nigeria doing in the Islamic Military Alliance? Why is Nigeria a member of the Organisation of Islamic Coalition and is now listed as an Islamic nation at several other institutuons?!? NIGERIA IS NOT A MUSLIM COUNTRY BUT BUHARI HAS TURNED NIGERIA OFFICIALLY INTO A MUSLIM COUNTRY! Christians why are you all sleeping!!!!!! Wake up, your President is pulling the carpet from right under your feet and you’re not even noticing. Let’s start protesting with every tool we have to end this! If you feel that you cant do anything you can begin by reposting this article / message or creating your own on social media and using the hashtag #Nigeriaisnotamuslimcountry #Notoislamicnigeria #Buharidontislamizenigeria. Please let’s wake up!

    Ps: Bellanaija I hope you’ll post this message because I’m speaking nothing but the truth.

  10. meelikey

    December 17, 2016 at 9:09 pm

    Jehovah of the past is still Jehovah to date so NO SHAKING!

  11. nnenne

    December 18, 2016 at 6:01 am

    They finally got Emefiele out of the central bank! !!
    Didn’t northern lawyers threaten him to be removed recently ? A clean way of getting the job done.
    Emefuele don’t dine with the devil. Be warned! !!
    Muslims should run their bank.
    Nigeria is secular state!!

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