Department of Islamic Law

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Administration of pension funds under Nigerian new contributory pension scheme: A review under Islamic Law
(Faculty of Law, Kwara State University, Malete., 2022-12-31) Onikosi Ahmeed Adedeji; Adekunle A . Aminu; Ahmed A. Muhammed-Mikaaeel
Search for financial security after active service years of employees in Nigeria gave birth to pension scheme regimes in Nigeria. The focus point of the new pension scheme is security of funds and reasonable investment for profitability. Lots of Muslim subscribers have been complaining against the present administration regime of their pension funds. Hence, this paper examines the administration of funds under the new contributory pension scheme from Islamic law perspective. The paper adopts doctrinal method of legal research. It was discovered that Shari’ah is very much interested in what happens to Muslim funds inclusive of the pension funds. The paper discovered further that the administration of pension funds in Nigeria is marred with gharar, riba and maisir and thus violates Shari’ah tenet. The paper discovered also that the present structure of pension scheme in Nigeria which lacks Shari’ah Advisory Board has been responsible for the continuous violation of Shari’ah tenet in the administration of pension funds. The paper thus principally recommends amendment of the extant pension regime to pave way for Shari’ah Advisory Board to guide on administration of pension funds.
Administration of pension funds under Nigerian new contributory pension scheme: A review under Islamic Law
(Faculty of Law, Kwara State University, Malete., 2022) Ahmed A. Muhammed-Mikaaeel; Ahmeed O. Onikosi; Adekunle A. Aminu
Search for financial security after active service years of employees in Nigeria gave birth to pension scheme regimes in Nigeria. The focus point of the new pension scheme is security of funds and reasonable investment for profitability. Lots of Muslim subscribers have been complaining against the present administration regime of their pension funds. Hence, this paper examines the administration of funds under the new contributory pension scheme from Islamic law perspective. The paper adopts doctrinal method of legal research. It was discovered that Shari’ah is very much interested in what happens to Muslim funds inclusive of the pension funds. The paper discovered further that the administration of pension funds in Nigeria is marred with gharar, riba and maisir and thus violates Shari’ah tenet. The paper discovered also that the present structure of pension scheme in Nigeria which lacks Shari’ah Advisory Board has been responsible for the continuous violation of Shari’ah tenet in the administration of pension funds. The paper thus principally recommends amendment of the extant pension regime to pave way for Shari’ah Advisory Board to guide on administration of pension funds
Application of Corporate Personality Doctrine under the Nigerian Corporate Law and Shari'ah
(Lloyd Law College, India, 2022-12-31) Ahmed A. Muhammed-Mikaaeel
Corporate personality doctrine has come to protect business enterprises from associated risks in the course of business transactions. The beneficiaries of the corporate personality doctrine are the corporate managers because of the statutory protection they enjoy under the Nigerian corporate law. The statutory protection is being used as catalyst to perpetuate corporate governance failure. With the recognition of artificial personality (Shakhsiyyah ‘Itibaariyyah) in Islamic jurisprudence vide the position of certain schools of jurisprudence, there is need to examine whether such statutory protection is affirmed as well. This paper therefore examines the application of corporate personality doctrine under the Nigerian corporate law and Shari’ah. This paper adopts doctrinal method of legal research vide reliance on the primary and secondary sources like Qur’an and hadith, Qiyas, the Nigerian Constitution, Company and Allied Matters Act, text books, journals and internet facilities. The paper reveals that the implications of corporate personality doctrine under the Nigerian Corporate Law and Shari’ah are not on all fours. It further reveals that the existing legal framework in the country favours the application of the corporate personality doctrine under the Nigerian Corporate Law but hinders the actual practicability of Shari’ah rules to corporate personality doctrine. The paper concludes that to fully activate the provision of Section 38 of the Constitution in favour of Shari’ah, there is need for amendment of the existing framework to make way for Shari’ah modification in dealing with the corporate activities by Muslim corporate managers as a form of contribution to fight against corporate governance failure in the country.
Application of Corporate Personality Doctrine under the Nigerian Corporate Law and Shari'ah
(Lloyd Law College, India, 2022-09-30) Ahmed A. Muhammed-Mikaaeel
Corporate personality doctrine has come to protect business enterprises from associated risks in the course of business transactions. The beneficiaries of the corporate personality doctrine are the corporate managers because of the statutory protection they enjoy under the Nigerian corporate law. The statutory protection is being used as catalyst to perpetuate corporate governance failure. With the recognition of artificial personality (Shakhsiyyah ‘Itibaariyyah) in Islamic jurisprudence vide the position of certain schools of jurisprudence, there is need to examine whether such statutory protection is affirmed as well. This paper therefore examines the application of corporate personality doctrine under the Nigerian corporate law and Shari’ah. This paper adopts doctrinal method of legal research vide reliance on the primary and secondary sources like Qur’an and hadith, Qiyas, the Nigerian Constitution, Company and Allied Matters Act, text books, journals and internet facilities. The paper reveals that the implications of corporate personality doctrine under the Nigerian Corporate Law and Shari’ah are not on all fours. It further reveals that the existing legal framework in the country favours the application of the corporate personality doctrine under the Nigerian Corporate Law but hinders the actual practicability of Shari’ah rules to corporate personality doctrine. The paper concludes that to fully activate the provision of Section 38 of the Constitution in favour of Shari’ah, there is need for amendment of the existing framework to make way for Shari’ah modification in dealing with the corporate activities by Muslim corporate managers as a form of contribution to fight against corporate governance failure in the country.
Application of Corporate Personality Doctrine under the Nigerian Corporate Law and Shari’ah By
(Lloyd Law College, India, 2021) Ahmed A. Muhammed-Mikaaeel
Corporate personality doctrine has come to protect business enterprises from associated risks in the course of business transactions. The beneficiaries of the corporate personality doctrine are the corporate managers because of the statutory protection they enjoy under the Nigerian corporate law. The statutory protection is being used as catalyst to perpetuate corporate governance failure. With the recognition of artificial personality (Shakhsiyyah ‘Itibaariyyah) in Islamic jurisprudence vide the position of certain schools of jurisprudence, there is need to examine whether such statutory protection is affirmed as well. This paper therefore examines the application of corporate personality doctrine under the Nigerian corporate law and Shari’ah. This paper adopts doctrinal method of legal research vide reliance on the primary and secondary sources like Qur’an and hadith, Qiyas, the Nigerian Constitution, Company and Allied Matters Act, text books, journals and internet facilities. The paper reveals that the implications of corporate personality doctrine under the Nigerian Corporate Law and Shari’ah are not on all fours. It further reveals that the existing legal framework in the country favours the application of the corporate personality doctrine under the Nigerian Corporate Law but hinders the actual practicability of Shari’ah rules to corporate personality doctrine. The paper concludes that to fully activate the provision of Section 38 of the Constitution in favour of Shari’ah, there is need for amendment of the existing framework to make way for Shari’ah modification in dealing with the corporate activities by Muslim corporate managers as a form of contribution to fight against corporate governance failure in the country.
CAPITAL PUNISHMENT IN NIGERIAN COURTS: THE POSITION OF ABOLITIONISTS VIS-À-VIS ISLAMIC JURISPRUDENCE
(Ekiti State University, Faculty of Law, Ekiti, Nigeria, 2020) Ahmed A. Muhammed-Mikaaeel
Pronouncement of capital punishments have seen many light of the day to in the Nigerian Courts to the extent that a group of people (otherwise known as Abolitionists) have kicked against pronouncement of capital punishment with a view to abolish same. This made our courts to timeously intervene and confirmed the constitutionality of death sentence in our criminal law jurisprudence. The Islamic law jurisprudence is also firm on capital punishment in deserving cases. This study is essentially literature based with particular emphasis on the Constitution of the Federal Republic of Nigeria, 1999 As Amended as well as other relevant criminal law legislations. The study carefully examines the nature and types of capital offences under Common and Islamic Law. It goes further to x-ray the object of capital punishment and the attitude of courts to pronouncements in capital related offences vis-à-vis the Abolitionists campaign hinged on the Nigerian constitutional provision. The paper contends that under the Common Law, the attitudes of courts to pronouncement of capital punishment is positive such that once the offence has been successfully proved beyond reasonable doubt, death sentence is not negotiable. More so, under the Shariah, neither the Qadi nor the executioner can lessen or reduce the hadd punishment ordained by Allah (SWT). The study recommends practical independence of judiciary so that they can continue to stand firm against the Abolitionists in their mission to get rid of the much important capital punishment.
Challenges in the discharge of State obligations on educational right of children during Covid-19: Nigeria and Ethiopia in focus
(Vishwakarma University, India, 2021-10-31) Ahmed A. Muhammed-Mikaaeel
Covid-19 has metamorphosed into a deadly pandemic across the universe since its outbreak in December, 2019. It continues to threaten human existence and particularly children who are vulnerable by their very nature. At a point, it interrupts children’s right to education across the universe. Efforts of governments towards discharging their obligations on educational rights of children under the laws met series of challenges. Nigeria and Ethiopia, like their counterparts across the globe, resorted to total lockdown and stay at home as part of the measures to contain the spread of Covid-19. This has consequently impacted negatively on the educational right of children in the two countries. Against the foregoing backdrop, this paper, relying on doctrinal method of legal research, seeks to examine the challenges in the discharge of State obligations on educational right of children during Covid-19 using Nigeria and Ethiopia as a case study. The paper x-rays the extent of the effect of Covid-19 on the children’s educational right in Nigeria and Ethiopia by investigating the adequacy or otherwise of the various measures put in place by the governments to cushion the effect of the pandemic on the children’s educational right. The paper also examines the various challenges faced by the governments in the two countries while discharging their obligations towards educational rights of the children. The paper concludes that the efforts put in place by the two governments to cushion the effect of Covid-19 on the educational right of the children were inadequate. For future purpose, the paper recommends, amongst others, provisions of adequate facilities in educational institutions and adequate training of teachers in technical-know-how required for virtual learning at period of lock down.
CHALLENGES IN THE DISCHARGE OF STATE OBLIGATIONS ON EDUCATIONAL RIGHT OF CHILDREN DURING COVID-19: NIGERIA AND ETHIOPIA IN FOCUS
(Vishwakarma University, 2021) Ahmed A. Muhammed-Mikaaeel
Covid-19 has metamorphosed into a deadly pandemic across the universe since its outbreak in December, 2019. It continues to threaten human existence and particularly children who are vulnerable by their very nature. At a point, it interrupts children’s right to education across the universe. Efforts of governments towards discharging their obligations on educational rights of children under the laws met series of challenges. Nigeria and Ethiopia, like their counterparts across the globe, resorted to total lockdown and stay at home as part of the measures to contain the spread of Covid-19. This has consequently impacted negatively on the educational right of children in the two countries. Against the foregoing backdrop, this paper, relying on doctrinal method of legal research, seeks to examine the challenges in the discharge of State obligations on educational right of children during Covid-19 using Nigeria and Ethiopia as a case study. The paper x-rays the extent of the effect of Covid-19 on the children’s educational right in Nigeria and Ethiopia by investigating the adequacy or otherwise of the various measures put in place by the governments to cushion the effect of the pandemic on the children’s educational right. The paper also examines the various challenges faced by the governments in the two countries while discharging their obligations towards educational rights of the children. The paper concludes that the efforts put in place by the two governments to cushion the effect of Covid-19 on the educational right of the children were inadequate. For future purpose, the paper recommends, amongst others, provisions of adequate facilities in educational institutions and adequate training of teachers in technical-know-how required for virtual learning at period of lock down.
COMBATING CORPORATION-INDUCED ENVIRONMENTAL POLLUTION IN NIGERIA VIDE SHARI’AH MECHANISM
(Alliance University, Bengaluru, India, 2022) Ahmed A. Muhammed-Mikaaeel; Aishat Abdul-Quadri Zubair
The menace of environmental pollution is not limited to a particular clime. The scourge is being felt globally. Efforts to combat the menace is still ongoing at global, regional and national levels. Nigeria, as a sovereign nation, has suffered and is still suffering the menace of environmental pollution. The discovery of crude oil in commercial quantity gave birth to corporation-induced environmental pollution. National effort towards combating the corporation-induced pollution gave rise to series of legal frameworks while the country continues to experience environmental degradation. Against this backdrop, this paper looks for options beyond the conventional corporate law vide Shari’ah mechanism. This paper, which employs the Qualitative Research Design, adopts both the doctrinal and non-doctrinal legal research approaches. For the doctrinal approach, content analysis was adopted to analyze the primary sources like texts of Fiqh and legislations as well as the secondary sources such as textbooks, journals, articles, reports, among others. With the aid of comparative analysis, the paper compares approaches to corporation-induced environmental protection under the conventional law and Shari’ah. The paper further presents a visual representation of the various views using thematic analysis with the help of ATLAS.ti software. The paper contends that environmental pollution signifies corporate governance failure. It also argues that despite the availability of legal framework for environmental protection, the menace of corporation-induced pollution is persistent owing to certain challenges. It is contended that Nigeria has never considered Shari’ah perspective in protecting its environment. Hence, Shari’ah approach is recommended for combating corporation-induced environmental pollution in Nigeria.
COMBATING IRHAB (TERRORISM) VIDE AFWU (AMNESTY GRANT) UNDER SHARI‘AH: A SYSTEMATIC COMPARISON WITH NIGERIAN LEGAL REGIME
(Faculty of Law, Fountain University, 2025-04-19) Ahmed A. Muhammed-Mikaaeel; Kamaldeen O. Salman; Abdulrazaaq O. Zakariya
Terrorism has been a cankerworm inflicting pain on all and sundry across the universe. The innocent civilians have been at the receiving end. The ugly situation is not an exception in Nigeria. The legal regime criminalises the act of terrorism and searches for permanent preventive measures which culminates in the amnesty grants to terrorists in the country. Despite several amnesty grants to the terrorists in the country, it has not led to prevention due to incessant unexpected attacks by the terrorists. This article looks beyond the Nigerian legal regime of amnesty grants and ventures into the position under Shari‘ah jurisprudence regarding combating terrorism vide amnesty grant with a systematic comparison with the Nigerian legal regime. The article purely adopts the doctrinal method of legal research and finds that the grant of amnesty to terrorists under Shari‘ah jurisprudence is conditioned upon genuine repentance on the part of the terrorists before their arrest and non-commission of murder during the previous act of terrorism which conditions are absent in the Nigerian legal regime. The study recommends the Shari‘ah jurisprudential conditional approach to the Nigerian government.
COMPARATIVE APPRAISAL OF OFFENCE CLASSIFICATIONS AND STANDARD OF PROOF UNDER NIGERIAN CRIMINAL LAW AND SHARI’AH JURISPRUDENCE
(Faculty of Law, Islamic University in Uganda, 2024-12-31) Francis Ikebundu Ekene; Ahmed A. Muhammed-Mikaaeel
Involvement in crimes has become universal phenomenon. The need to have legal instruments for deterring people from crimes becomes a necessity. The law thus continues to play its role of social control vide criminal justice administration. The familiar legal regime of crime control in Nigeria is the Nigerian criminal law. However, there is little exposition to the Shari’ah criminal jurisprudence since very few States have taste of it. Most legal practitioners versed in the law, practices and procedures of Nigerian criminal law usually mixed them up with that Shari’ah criminal law and procedures. To address this problem, this paper discusses the topical issues of classification of offences and the standard required for proof of crimes in criminal cases by comparative appraisal of the Nigerian criminal law and Shari’ah criminal procedures. Vide reliance on the legal research doctrinal method, this paper comparatively appraises the classification of offences and the standard required for proof of crimes in criminal cases under the Nigerian criminal law as well as Shari’ah criminal jurisprudence. The paper thus orchestrates the areas of similarities and dissimilarities between the Nigerian criminal law and Shari’ah criminal procedures with respect to the areas of offence classification and the standard required for proof of crimes in criminal cases. This paper recommends shifting of interest to Shari’ah criminal jurisprudence for mastery of the legal system.
CORPORATE GOVERNANCE AND PRACTICE IN NIGERIA: EXPLORING ITS TRICKY AND PROGNOSES
(Faculty of Law, Nnamdi Azikwa University., 2019-12-31) Ahmed A. Muhammed-Mikaaeel; Abdulrazaq O. Abdulkadir; Fatimah F. Abdulrazaq
The major reason why most business tycoons decided to incorporate companies in Nigeria is the desire to make profits as well as the immediate and long term benefits of incorporation guaranteed by the law. To ultimately achieve this purpose, the law also designs the way and manner incorporated companies should be governed. In order to achieve the overall objectives of incorporation, strict adherence to effective corporate governance framework by human organs becomes indispensable. As observed in Nigeria, a number of companies had gone into their early graves as a result of improper handling by the human organs managing their affairs. Hence, this study, which is essentially literature based with particular emphasis on the relevant provisions of the Companies and Allies Matters Act, 1990, investigates reasons for corporate governance and corporate governance failure in Nigeria with its consequent negative effects. The research focuses on the human organs responsible for day-to-day activities of the companyy. The paper argues that human organs of the company are the architects of corporate governance failure in Nigeria. It recommends strict enforcement paradigm for preserving and sustaining the integrity of the corporate governance in Nigeria.
CORPORATE GOVERNANCE AND PRACTICE IN NIGERIA: EXPLORING ITS TRICKY AND PROGNOSES
(2019-12-15) Abdulrazaq O. Abdulkadir; Fatimah F. Abdulrazaq; Ahmed A. Muhammed-Mikaaeel
The major reason why most business tycoons decided to incorporate companies in Nigeria is the desire to make profits as well as the immediate and long term benefits of incorporation guaranteed by the law. To ultimately achieve this purpose, the law also designs the way and manner incorporated companies should be governed. In order to achieve the overall objectives of incorporation, strict adherence to effective corporate governance framework by human organs becomes indispensable. As observed in Nigeria, a number of companies had gone into their early graves as a result of improper handling by the human organs managing their affairs. Hence, this study, which is essentially literature based with particular emphasis on the relevant provisions of the Companies and Allies Matters Act, 1990, investigates reasons for corporate governance and corporate governance failure in Nigeria with its consequent negative effects. The research focuses on the human organs responsible for day-to-day activities of the companyy. The paper argues that human organs of the company are the architects of corporate governance failure in Nigeria. It recommends strict enforcement paradigm for preserving and sustaining the integrity of the corporate governance in Nigeria.
Corporate Governance Legislations for Islamic Banks in Nigeria: Review of Compliance with Islamic Principles
(Nirma University, 2022-12-31) Ahmed A. Muhammed-Mikaaeel; Abdulrazaaq O. Zakariya
Legislation is the bedrock of every endeavour for better outcome. It gives enabling environment for certain systems, practices and procedures. In any complex system, legislation plays pivotal role to solidify it. Hence, it is not debatable that corporate banking governance requires effective legislation to thrive. As with Islamic corporate banking governance in Nigeria, experts have made several complaints regarding the unsuitability of the existing legislations from the perspective of Shari’ah tenets. This thus prompted this article to examine the corporate governance legislations for Islamic Banks in Nigeria by way of review with Islamic principles. The article adopts doctrinal method of legal research by relying on the relevant legislations for corporate governance of Islamic banks in Nigeria as well as the primary sources of law under Shari’ah to fathom the Islamic principles as they relate to Islamic corporate banking governance. The article finds that the existing legislations for the corporate banking governance of Islamic banks are best suitable for the conventional banks. The legislations failed to incorporate Islamic principles for proper corporate banking governance of Islamic banks. The article thus places the burden of ensuring amendment of the Companies and Allied Matters Act (CAMA), 2020 on the Central Bank of Nigeria being the apex and regulatory bank in the country as against the usual style of issuing mere guidelines for that purpose.
Corporate Governance Legislations for Islamic Banks in Nigeria: Review of Compliance with Islamic Principles
(Nirma University, 2022-12) Ahmed A. Muhammed-Mikaaeel; Abdulrazaaq O. Zakariya
Legislation is the bedrock of every endeavour for better outcome. It gives enabling environment for certain systems, practices and procedures. In any complex system, legislation plays pivotal role to solidify it. Hence, it is not debatable that corporate banking governance requires effective legislation to thrive. As with Islamic corporate banking governance in Nigeria, experts have made several complaints regarding the unsuitability of the existing legislations from the perspective of Shari’ah tenets. This thus prompted this article to examine the corporate governance legislations for Islamic Banks in Nigeria by way of review with Islamic principles. The article adopts doctrinal method of legal research by relying on the relevant legislations for corporate governance of Islamic banks in Nigeria as well as the primary sources of law under Shari’ah to fathom the Islamic principles as they relate to Islamic corporate banking governance. The article finds that the existing legislations for the corporate banking governance of Islamic banks are best suitable for the conventional banks. The legislations failed to incorporate Islamic principles for proper corporate banking governance of Islamic banks. The article thus places the burden of ensuring amendment of the Companies and Allied Matters Act (CAMA), 2020 on the Central Bank of Nigeria being the apex and regulatory bank in the country as against the usual style of issuing mere guidelines for that purpose.
Emergence of Usulul Fiqh under Shari'ah: From Developmental to Standardization Stage
(Department of Islamic Law, Usmanu Dan Fodiyo University, Sokoto, Nigeria, 2020-11-30) Ahmed A. Muhammed-Mikaaeel
Shari’ah is a Divine Law of Allah (SWT) with universal application across the globe. It is established to shape the lives of all Muslims. Its primary sources, which are Qur’an and Sunnah, are unchangeable. Nevertheless, the rules of Shari’ah are dynamic to emerging issues in the Islamic world. This is evident in the introduction of contemporary Islamic financial practices such as Islamic Banking, Islamic Capital Market and Takaful (Islamic Insurance), amongst others. Rules of Shari’ah are made dynamic to emerging contemporary issues through the instrumentality of Usulul Fiqh. To this end, this article, relying on doctrinal method of research, examines the emergence of Usulul Fiqh from developmental to the standardization stage. Thus, the article examines the Development, Systematization, Documentation and Standardization of Usulul Fiqh. The article reveals that the foundation of Usulul Fiqh was laid at the periods of Prophet Muhammad (PBUH) and the Rightly Guided Caliphs. The article contends that the systematization of Usulul Fiqh was achieved during the period of Tabi’uun. The article contends further that the documentation of Usulul Fuqh came to fore at post Tabi’uun’s Era when Imam Shafi’i made a breakthrough of documentation of Usulul Fiqh through his book, Ar-Risalah (the Message). The article finally contends that the ultimate emergence of the two major approaches to Usulul Fiqh, viz: Theologians and Jurists methods, brought the standardization of Usulul Fiqh to the lime light. The paper recommends that intending scholars of Shari’ah should acquaint themselves with the history of Usulul Fiqh for better understanding.
Emergence of Usulul Fiqh under Shari'ah: From Developmental to Standardization Stage
(Islamic Law Department, Usmanu Dan Fodiyo University, Sokoto, Nigeria, 2020-09-25) Ahmed A. Muhammed-Mikaaeel
Shari’ah is a Divine Law of Allah (SWT) with universal application across the globe. It is established to shape the lives of all Muslims. Its primary sources, which are Qur’an and Sunnah, are unchangeable. Nevertheless, the rules of Shari’ah are dynamic to emerging issues in the Islamic world. This is evident in the introduction of contemporary Islamic financial practices such as Islamic Banking, Islamic Capital Market and Takaful (Islamic Insurance), amongst others. Rules of Shari’ah are made dynamic to emerging contemporary issues through the instrumentality of Usulul Fiqh. To this end, this article, relying on doctrinal method of research, examines the emergence of Usulul Fiqh from developmental to the standardization stage. Thus, the article examines the Development, Systematization, Documentation and Standardization of Usulul Fiqh. The article reveals that the foundation of Usulul Fiqh was laid at the periods of Prophet Muhammad (PBUH) and the Rightly Guided Caliphs. The article contends that the systematization of Usulul Fiqh was achieved during the period of Tabi’uun. The article contends further that the documentation of Usulul Fuqh came to fore at post Tabi’uun’s Era when Imam Shafi’i made a breakthrough of documentation of Usulul Fiqh through his book, Ar-Risalah (the Message). The article finally contends that the ultimate emergence of the two major approaches to Usulul Fiqh, viz: Theologians and Jurists methods, brought the standardization of Usulul Fiqh to the lime light. The paper recommends that intending scholars of Shari’ah should acquaint themselves with the history of Usulul Fiqh for better understanding.
EMERGENCE OF USULUL FIQH UNDER SHARI’AH: FROM DEVELOPMENTAL TO STANDARDIZATION STAGE
(Islamic Law Department, University of Maiduguri, Maiduguri, Nigeria., 2020) Ahmed A. Muhammed-Mikaaeel
Shari’ah is a Divine Law of Allah (SWT) with universal application across the globe. It is established to shape the lives of all Muslims. Its primary sources, which are Qur’an and Sunnah, are unchangeable. Nevertheless, the rules of Shari’ah are dynamic to emerging issues in the Islamic world. This is evident in the introduction of contemporary Islamic financial practices such as Islamic Banking, Islamic Capital Market and Takaful (Islamic Insurance), amongst others. Rules of Shari’ah are made dynamic to emerging contemporary issues through the instrumentality of Usulul Fiqh. To this end, this article, relying on doctrinal method of research, examines the emergence of Usulul Fiqh from developmental to the standardization stage. Thus, the article examines the Development, Systematization, Documentation and Standardization of Usulul Fiqh. The article reveals that the foundation of Usulul Fiqh was laid at the periods of Prophet Muhammad (PBUH) and the Rightly Guided Caliphs. The article contends that the systematization of Usulul Fiqh was achieved during the period of Tabi’uun. The article contends further that the documentation of Usulul Fuqh came to fore at post Tabi’uun’s Era when Imam Shafi’i made a breakthrough of documentation of Usulul Fiqh through his book, Ar-Risalah (the Message). The article finally contends that the ultimate emergence of the two major approaches to Usulul Fiqh, viz: Theologians and Jurists methods, brought the standardization of Usulul Fiqh to the lime light. The paper recommends that intending scholars of Shari’ah should acquaint themselves with the history of Usulul Fiqh for better understanding.
LEGAL AND REGULATORY FRAMEWORK FOR CORPORATE GOVERNANCE OF ISLAMIC BANKS IN NIGERIA AND MALAYSIA: A REVIEW OF LITERATURE
(Faculty of Law, Benue State University, Nigeria, 2022-12-31) Ahmed A. Muhammed-Mikaaeel; Aishat Abdul-Qadir Zubair
Legal and regulatory framework for corporate governance of Islamic Banks in Nigeria has received bellyful of criticisms from several quarters owing to various claims of their inadequacy and unsuitability. Worse still, report has it that Islamic Banks in Nigeria enjoys no special legislation for its corporate governance contrary to what obtains in similar clime. The foregoing thus prompted this research by literature review approach. Relying purely on doctrinal method, this paper examines the legal and regulatory framework for corporate governance of Islamic banks in Nigeria and Malaysia vide review of existing literature. Hence, from the literature reviewed, the paper finds that Islamic banks in Nigeria were subjected to laws which were originally conceived for the corporate governance of conventional banks in Nigeria; that there is no single legislation enacted specially for corporate governance of Islamic banks in the country contrary to the case in Malaysia; that the existing legal and regulatory framework for corporate governance of Islamic banks in Nigeria are not only defective and unsuitable but also have the potentials to defeat the purpose for which Islamic banks were established. The paper thus recommends that it is high time Nigeria borrowed leaf from Malaysia by enacting a special legislation for the corporate governance of Islamic Banks in the country. Corporate Governance; Islamic Banks; Legal and Regulatory Framework; Nigeria; Malaysia.
LEGAL AND REGULATORY FRAMEWORK FOR CORPORATE GOVERNANCE OF ISLAMIC BANKS IN NIGERIA AND MALAYSIA: A REVIEW OF LITERATURE
(Faculty of Law, Benue State University, Nigeria, 2022) Ahmed A. Muhammed-Mikaaeel; Aishat Abdul-Quadri
Legal and regulatory framework for corporate governance of Islamic Banks in Nigeria has received bellyful of criticisms from several quarters owing to various claims of their inadequacy and unsuitability. Worse still, report has it that Islamic Banks in Nigeria enjoys no special legislation for its corporate governance contrary to what obtains in similar clime. The foregoing thus prompted this research by literature review approach. Relying purely on doctrinal method, this paper examines the legal and regulatory framework for corporate governance of Islamic banks in Nigeria and Malaysia vide review of existing literature. Hence, from the literature reviewed, the paper finds that Islamic banks in Nigeria were subjected to laws which were originally conceived for the corporate governance of conventional banks in Nigeria; that there is no single legislation enacted specially for corporate governance of Islamic banks in the country contrary to the case in Malaysia; that the existing legal and regulatory framework for corporate governance of Islamic banks in Nigeria are not only defective and unsuitable but also have the potentials to defeat the purpose for which Islamic banks were established. The paper thus recommends that it is high time Nigeria borrowed leaf from Malaysia by enacting a special legislation for the corporate governance of Islamic Banks in the country.

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