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Kwara Village King Develops His Own Currency for community

Ademola Ajibola of Ijara-Isin, a community in Nigeria's Kwara South Senatorial District's Isin Local Government Area, has purportedly devised a means of exchange for his community in order to enhance economic activities.

According to reports, Ajibola got the idea after observing vouchers being used as a means of exchange at some workplaces in the United States.

He invented the voucher system when he returned to Nigeria in August 2021. 

Previously, the king had transformed a piece of the community's defunct Nigerian Postal Service building into the Ijara-Isin Development Fund Centre, a microfinance organization (IDFC). 

The microfinance bank is started distributing the vouchers.

IDFC uses the license of Mount Olive Microfinance Bank, Ilorin, which is owned by the king, because it does not have a license to function as a microfinance bank.


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