A banking executive in Nigeria has set up a new radio station to renew the moral fibre of the country and promote “godliness”, despite a ban on explicit religious broadcasting.

Erastus Akingbola, the Christian CEO of Intercontinental Bank said he set up Inspiration FM to combat the decline of moral, socio-economic, political and religious values in Nigeria. Akingbola said the situation was urgent for Nigeria to address the problem of corruption holding back the development of the oil rich nation.

Akingbola said, "We want to use the power of the mass media to redress and reconstruct our national value system. We do not preach religion. We preach godliness, morals, ethics and sound value," reports Ecumenical News International.

"We communicate the right message that will assist our youth achieve lofty ambitions and greatness through hard work, godliness and civic principles … This is our brand identity."

He said he believed the radio station could "re-mould our battered social character, we believe we can reshape the future of our society for better… We believe that Nigeria can be better, indeed we believe in Nigeria. This is our philosophy at Inspiration FM Radio."

Akingbola called on Nigerians and political leaders to join in an effort to reshape the country and praised recent government efforts to “rebrand” the country. Earlier this month, the Nigerian Minister of Information and Communications set up the Nigeria National Image Project with the support of Bishop David Oyedepo of Living Faith Church Worldwide.

Akinbola said, "What they are saying simply is that we cannot continue to put up with the image we exude abroad, the perception of ours as a country of sub-ethics … All other arms and tiers of government should key into this initiative of the Federal Ministry of Information. We also enjoin corporate Nigeria to channel part of their corporate social responsibility resources towards development of the right social culture amongst our youth and among the general public."

The Nigerian broadcasting code currently forbids outright religious broadcasting. Christian and Islamic broadcasts are generally classified as commercial programmes.