UNPLEASANT ASPECTS OF PRE-COLONIAL YORUBA DEBT RECOVERY SYSTEMS: OSOMALO, OLOGO AND IWOFA UNDER REVIEW

Abstract

Yoruba people had traditional ways of debt recovery before the era of colonialism. Several studies have examined the different systems of debt recovery in pre-colonial time with negligible focus on the unpleasant aspects of the systems involved. This study, therefore, investigated the different unpleasant aspects of traditional systems of debt recovery.

Data were collected through qualitative method. This involved twenty-five interviews of respondents conveniently sampled for the study.

The qualitative data were analysed using content analysis, while frequency and percentage distribution was used to analyse the socio-bio data of the respondents. Seventy-two percent of the respondents were male, 88% of them were married; 64% of them were Christians and 84% of them were indigenes of Ogun State. Forty-four percent of them were not familiar with Osomalo system of debt recovery; 52% of them were not familiar with Ologo system and 40% of them were not familiar with Iwofa system. Time wasting, public disgrace; exposure of private life; application of physical force and commotions in the communities were unpleasant aspects of Osomalo system identified in the study.Physical application of force and fear of contagious diseases were unpleasant aspects of Ologo system. Psychological pain, depression, inhuman and wicked treatment of pawns, possibility of pawning turning into slavery; double benefits for creditors and alienation of pawns from family members and their private living were the indentified unpleasant aspects of Iwofa system.

The study recommends immediate efforts by the Yoruba leaders of thought to revitalize the dying Yoruba culture through international conferences on Yoruba culture and traditional ways of life both at home and in diaspora.