The Contributions of the Esusu Club, and the Co-operative Societies, to the Societal Growth and Development of Igbo People of Nigeria since Independence

Abstract

‘Esusu' club is a traditional method of savings or banking. It is a kind of cooperative society as well, since money saved is aimed providing economic succour. The origin of this culture is primordial and probably must have evolved due to need by the natives to seek for a viable method of safe keeping their surplus cash for re-investment into other economic businesses. It could have also emerged to address sudden need, which could demand immediate finance. Although some scholars are of the opinion that ‘Esusu' club emerged following the introduction of currency economy, further inquiry indicate that ‘Esusu' club existed before that. In many Igbo communities, Esusu has different names but perform the same function. Moreover, this system of local banking has formed a predominant method of money saving especially among the rural dwellers. In olden days, the Ohafia people had a form of Esusu that involved rotatory labour contribution to members' farm. Women, in what was called Idu ubi (free labour services), initiated it, and referred to it as mbobom (farm weeding).This idea metamorphosed from offering of labour services, to daily, weekly and monthly financial contributions as the case may be, when wages for such communal self-help farm work became monetised.

In the present dispensation, in Ohafia, this is called the ‘Ari doro' and ‘Nzuko Umunna', with payment been accepted every Sundays and or fortnightly. The number of people involved in such meeting could be extended up to twenty (20) or more persons, depending on the club's constitution. In a village also, there could be up to five or twenty of such clubs, depending on the population of the village and the ability to mobilise the people to join by the initiators. Nzuko Umunna which was the official name given to Esusu club in Nigeria has metamorphosed from ordinary meeting involving kindred where cases between members are settled, to the handling of financial matters. Instead of solely focusing on conflict resolution, the ‘Esusu' club has gradually emerged to become source of economic empowerments to Ohafia people in particular.

 The ‘Esusu'' club is the bedrock to rural economic transformation. Its impact to socio-economic development of the nation is beyond measure. Apart from providing economic succour to rural dwellers, it has afforded a forum for social intercourse necessary for harmonious living within the society. The emphasis for the government to collaborate with the club to bring development to the greater number of the rural populace; is the nexus of this paper.