Inside Kwara community, Ijara-Isin, where residents have own 'currency'
The Ijara-Isin community in Kwara State, North Central Nigeria has devised a means to keep money within its community in a bid to foster economic development.
Ijara-Isin came up with its own 'currency', which is accepted through out the community.
The Managing Director, Ijara Isin Development Fund and Corporative, Alo Oluwafemi, talks about the motivation behind the 'currency', also called vouchers, that residents of Ijara-Isin use when they go to the markets.
Oluwafemi said the Olusin of Ijara-isin, Oba Ajibola Ademola Julius, got the idea when he travelled to the United States of America in 2021.
He narrated that the monarch noticed that each time he gives out money or a job, the residents prefer to save the money in their accounts or use it outside of Ijara Isin which doesn't help the community, so he thought of a way to keep funds within the community.
A community official, Akinleye Tolulope, said the idea is to boost the economy of the community. He also said that residents get paid with the 'currency' to discourage residents from taking the money out but rather spend it within the community to help in its development.
The cash officer, Ijara Isin Development Fund and corporative, Mukaila Abdulrahman, shares how the system of the voucher works. Abdulrahman said that the voucher must be signed and stamped to enable one to spend it adding that if a resident wants to change the voucher for cash, they are free to do so.
Oluwafemi added that when the market vendors collect the vouchers, they take it to the office where the vouchers are saved in their account and eventually turned to cash to enable the vendors restock.
A trader, Babalola Omolara, said that the voucher has helped them in the community and that it is also a protective measure against theft as it is useless to whoever steals it from them.
Another trader, Oluwabukola Ojo, said that they receive cash from outsiders who want to purchase their goods.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Adeola Abraham Kwara 2019 Obuh Lola Ashiru Gbemi Saraki Sola Saraki University TIC AbdulGafar Tosho Ojuekun Sarumi Olabode Towoju Bluenile Associates Kwara State Pension Board Seni Saraki Kishira Yusuf Arowosaye Bolaji Aladie Guber Aspirant Abdullahi Imam Abdullahi Nigeria Governors\' Forum Kunbi Titiloye Shade Omoniyi Share/Tsaragi Aliyu Sabi Ronke Adeyemi Olanrewju Okanlawon Musa Manzuma Makama Of Ilorin SUBEB Abdullah Janet Amudat Kwara Basketball Association Dumagi National Pilot Nagode Bayo Ajia Okin High School Jimoh Olusola Imam Odolaye Aremu Chief Imam Of Lafiagi Iponrin Lawyers Unite Against Corruption Leke Ogungbe Michael Nzekwe Bamidele Adegoke Oladimeji Babatunde Ajeigbe Elerin Of Adanla Abdulrasheed Lafia Umar Adelodun Abdulraheem Yusuf Isiaka Saka Opobiyi Fulani Abdulraheem Olesin Najim Yaasin Ilorin International Airport Lola Olabayo Ilorin Ibrahim Jawondo Hauwa Nuru Borgu Lanre Issa-Onilu Balikis Jawondo Peter Amogbonjaye Oniwasi Agbaye Abiodun Oyedepo Ibrahim Labaika Egbewole Yusuf Amuda Abubakar Saka Saadu Abraysports FC Sabi Ilorin Likeminds Foundation Rotimi Oyedepo Joseph Alex Offorjama COEASU Alapansapa Hajj Saka Isau Centre For Peace And Strategic Studies

