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.

Ayodele Shittu     Abdulrauf Aliyu     AbdulGaniyu Kareem     Sabo-Oke     Boko Haram     Tinubu     Kwara NIPR     Sheikh Hamzat Yusuf Ariyibi     Kassim Babamale     Ayo Opadokun     Aliyu Adebayo     IPSAS     Emir Of Ilorin     Oke-Oyi     Yusuf Abubakar     Adamu B. Yaqubu     Akom Construction And Engineering Synergy Ltd     Olosi Of Osi     Basic Education Certificate Examination     Kwara State Coalition Of Business And Professional Associations     Jani Ibrahim     Abubakar Usman Jos     Sa\'adatu Modibbo-Kawu     Abubakar Baba     Elelu     Abdulrosheed Okiki     Saba Mamman Daniel     Ilorin     Saliu Shola Taofeek     Alikinla     Oba Abdulraheem     Kazeem Gbolagade     Saheed Popoola     Baaziki Sulaiman     Oniyangi Kunle Sulaiman     Lawal Arinola Kudirat     Abiodun Musa Aibinu     Societe Generale Bank Of Nigeria     Titus Suberu-Ajibola     Adam Abdullahi Al-Ilory     Ghali Muhammed     C2c@kwarastate.gov.ng     Funmilayo Zubair     Alumni Association Of The Federal Polytechnic Offa     Abiodun Jacob Ajiboye     Guber Aspirant     Kayode Ishola     Ahmed \'Lateef     Musa Aibinu     Aisha Gobir     Olomu Of Omu-Aran     Oba David Oyerinola Adedunmoye     Baba-Isale     Malete     Abubakar Abdulraheem     Yetunde Balogun     Modibo Kawu     Kwara Muslim Pilgrims Welfare Board     Sidikat Uthman Ajibola     Kwara State Television (KWTV)     Makama Of Kaiama     Special Agro-Industrial Hub     Olubukola Kifayat Adedeji     Bursary     Harmony Holdings     Shola Odetundun     Elese Of Igbaja     Nigerian Correctional Service     Abiodun Oyedepo     NIPOGA     Igbomina     Yahaya Seriki Gambari     Osuwa     Abdullah Janet Amudat     Yahaya Oloriegbe     Bibire Ajape     Muhammed Mahe Abdulkadir    

Cloud Tag: What's trending

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

Abdulwahab Ololele     Neo Mundo Ltd     Abdulrazaq Adebayo     Muazam Nayaya     Umar Danladi Shero     Bayo Ajia     Salihu Ajia     Sheikh Ridhwanullah     Alanamu     Photo News     Maryam Nurudeen     Gani Saadu     Akanbi-Oke     Justina Oha     Amasa     Ahmed Mohammed Rifun     Zara Umar     SWAN     Apata Ajele Secondary School     Ilorin South     UTME     Ibrahim Oniye     Tsaragi-Share     TETFUND     Henry Makinwa     Dasuki Belgore     Saadatu Modibbo-Kawu     Imam Gambari     All Confederation Of Principals Of Secondary Schools     Christopher Odetunde     Tunji Arosanyin     David Oyerinola Adedunmoye     Oladipo Akanmu Tolani     Olabanji Orilonishe     Susan Modupe Oluwole     Balogun Fulani     Abubakar Abdullahi Bata     Kwara Pdp     Henry Olaosebikan     Shururat Olatinwo     All Peoples Party     Yusuf Amuda Gobir     Kawu Baraje     Idowu Aremu     KW-GIS     Bond     Kaiama     Unilorin     Ajeigbe     Basit Olatunji     Razak Atunwa     Pategi     Bilikisu Oniyangi     Mohammed Kamaludeen     Sambo Murtala     Omotoso Musa     Mohammed Katsina Ahmed     Maimunat Oloriegbe     Makama Of Ilorin     Yetunde Balogun     Oko     Aminu Adisa Logun     Clement Yomi Adeboye     Muritala Awodun     Gbugbu     Ayodele Kuburat Olaosebikan     Simon Sayomi     Jaiz Bank     Yahaya Jibril Usman     Dan Masanin     National Broadcasting Commission     Kwara 2023     Oniyangi     Law School Scholarship     Agboola Abdulraheem     Olusola Saraki     Yinka Aluko