Inside Kwara community, Ijara-Isin, where residents have own 'currency'

Date: 2023-01-19

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.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Sobi Hill     KWIRS     Moshood Bakare     Kwara Basketball Association     Yaru     Wahab Issa     Tanke     Kwara State Sports Commission     Idofin     Abdulrazaq Adebayo     Laboratory-to-Product     Bayo Onimago     Kwara Polytechnic     Hassan Abdulazeez Elewu     Lanre Badmus     Kisra     Saidu Yaro Musa     Kunle Akogun     Onilupeju Of Ilupeju     SSA Youth     Alabi Lawal     Hassan Saliu     Abdulrahman Abdulrazak     Abdulrahman Iliasu     Alagbado     Oke-Odo     Sunset Workers     Ilorin Water Reticulation     Aisha Ahman Pategi     Sango-UITH Road     NURTW     Otoge     Charles Ibitoye     Iyeru Grammar School     Maigida Soludero Transit     Ayobami Seriki     Titus Suberu-Ajibola     PPS     Abdulrauf Aliyu     Suleiman Mora Omar     CCB     Isau     Chief Imam Of Lafiagi     Fola Consultant     Ariyo     Towobola Abdulrahman Toyin     Habeeb Abdullahi Al-Ilory     Elerin Of Erin-Ile     Yusuf Amuda Gobir     Elesie Of Esie     Ahmad Belgore     Clara Nwachukwu     Olokoba     Kayode Ibrahim     Solomon Edojah     Olukotun Of Ikotun     Mansur Alfanla     Osinbajo     Lotus Bank     Iliasu     Elerin Of Adanla Irese     Babaloja-General     Abdulkadri Ahmad Alaiye     Lukman Adeloyin     Ezekiel Yissa Benjamin     Jani Ibrahim     Ambassador Kayode Laro     Sanitation Exercise     A.O. Belgore     Olayinka Oladapo Jogunola     Agor     Adesoye     Ballah     Makama Of Kaiama     Kunle Okeowo     Ola Falade     Lithium    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Tanke     Musa Abdullahi     Ndama Al-hassan     Ganiyu Abolarin     Kwara 2019     Clement Yomi Adeboye     Dogara     Olatunde Jare     Sulu Babaita Isiaka     Yahaya Muhammad     Iyabo Dupe Adekeye     Iyeru Grammar School     Tuesday Assayomo     Oja-Oba     Shuaib Jawondo     Sai Kayi     Leke Ogungbe     Vishvas KOZ Tractors     Yusuf Mubarak     Taofik Abdulkareem Babaita     Students Union Government     Yahaya Seriki     Gobirawa     Ambassador Kayode Laro     Samuel Olusegun Adedayo     Kola Olota     BIR     Khairat Gwadabe     SSA Youth Engagement     Seun Bolaji     AbdulRaheem Ahmad Shayi     Post Utme     Millennium Development Goals     Kolawole Bashirat     Oba Abdulrahim     Bashirat Bola Bello     Village Alive Development Association     Tunji Folami     Abdullahi Biffo     Musibau Akanji     Hassan Taiye Salam     Ijakadi     Modibo Kawu     Mope Dasuki Belgore     Fola Consultant     Olabode Towoju     Sunset Workers     Kamaldeen Gambari     Afetu Of Alabe     Oro Grammar School     Mahfouz Adedimeji     Tsado Manman     National Broadcasting Commission     Ekiti     Ganiyu Taofiq     Wahab Olasupo Egbewole     Balogin Alanamu     Nurudeen Muhammed     Ilorin Likeminds Foundation     Share     Omu Aran     Abdulquawiy Olododo     Emir Of Yashikira     REO CAKES     AIT Ilorin     Rotimi Oyedepo     Ayobami Seriki     Kwara Apc     Abubakar Abdulraheem     Albert Ogunsola     Atiku     Kayode Oyin-Zubair     Asa     Jamila Bio Ibrahim     Iyiola Oyedepo     Salihu Alhaji Musa     Laduba