'Cashless Policy' Bartering to Fight Inflation
Cashless Policy Ajébò, The Trade by Barter Market Ajébò market comes to life every nine days, it offers an exciting twist with its age-old custom of a trade by barter. Makun Omi is a community in Ogun State where Trade by Barter still strives. Swapping one type of goods for another instead of cash is an age-old practice, and has helped combat increasing food scarcity in rural areas in parts of Africa. Makun Oni people are predominantly into activities such as logging and fishing. As a result, sea products like fish, crayfish, and snails are available in abundance. These are traded for scarcely available products like plantain, yam, and fruit, most importantly food items. Cash transactions also take place in the market for those who don’t have goods for exchange especially visitors. Nigerians are experiencing scarcity of the Naira following the introduction of the redesigned N200, N500 and N1, 000 notes by the Central Bank of Nigeria (CBN). Its a serious hard time for citizens who are currently buying Naira note. The concept of trade by barter is not not considered as a profit or loss, rather. emphasizes and affirm culture, traditions and it reminds us and the next generation that there was a time money did not answer all the problems. Can trade by barter help to combat the rising inflation in Nigeria?
- Editorial Photographer / Photojournalist
- Video Editor - Documentary