Adamu Abdullahi
A trusted community savings scheme has turned into a nightmare for dozens of contributors in Kuje after a man allegedly absconded with funds collected under the name of Adashi.
The traditional Adashi, also known as Ajiya, is a rotating savings system where members contribute a fixed amount regularly, and each participant takes turns receiving the pooled sum.
It has long been a cornerstone of Hausa financial culture, built on trust and accountability. But in this case, trust was betrayed.
Victims say the suspect acted as the coordinator, collecting weekly contributions from traders, artisans, and market women.
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In the heart of Kuje, a satellite town on the outskirts of Abuja, a financial scandal has shaken the community to its core. What began as a trusted Ajo scheme, a centuries-old savings tradition, has ended in betrayal, leaving dozens of families devastated and questioning the very foundation of their communal trust.
The Tradition of Trust
For generations, informal savings systems like Akawo, Ajo, and Adashe have been lifelines for Nigerians excluded from formal banking. In Kuje, traders, artisans, and civil servants pooled money weekly, relying on verbal agreements and community bonds. The system was simple: each participant contributed a fixed amount, and the collector distributed lump sums in rotation. It was a grassroots financial safety net until trust was broken.
The Disappearance
Earlier this month, the Kuje thrift manager, a man known to many in the community, allegedly absconded with millions of naira. Victims recall how he collected contributions faithfully for months, only to vanish when it was his turn to disburse payouts.
A local tailor, saving for new sewing machines, told THR NEWS reporter: “We saw him every day. He was like family. Now everything is gone.”
Another victim, a civil servant, explained: “I was saving for my children’s school fees. I don’t know how to face them now.”
Victims rushed to file complaints with the Kuje Police Division. But without written agreements, the case stalled. Officers admitted that prosecuting thrift fraud is difficult when transactions are based on trust rather than contracts.
Consumer protection agencies acknowledge the challenge: informal thrift systems operate outside regulated financial frameworks, leaving participants vulnerable.
Panic and outrage have gripped residents after a local contribution scheme collapsed, with its manager allegedly disappearing alongside millions of naira belonging to contributors.
For months, the scheme, popularly known as Ajo or Adashi, promised members quick access to pooled savings. Participants contributed weekly, expecting their turn to collect lump sums. But last week, the manager reportedly vanished, leaving behind unanswered calls, locked offices, and distraught investors.
Victims Speak
“I was supposed to collect my share this month to restock my shop. Now everything is gone,” lamented a trader at Kuje Market.
Another victim, a tailor, said: “I trusted him because everyone in the market was joining. Now I can’t pay my apprentices or buy fabric.”
The Nigeria Police Force has launched a parallel investigation, urging victims to submit receipts and transaction records.
