Before the first traders arrange their wares for the day, and while the day is still starting for many residents, adashe, ajo or esusu collectors are already at work. Armed with receipt books, contribution cards, notebooks and mobile phones, they move from one customer to another, gathering small daily, weekly or monthly savings that over time become school fees, rent, business capital and emergency funds for many who have no access to bulk fund or loans. Weekend Trust explores the world of adashe collectors.<\/p>\n
Adashe involves a group of people contributing a fixed amount of money daily, weekly or monthly, with each member receiving the total collected lump sum in turns.<\/p>\n
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Small and medium enterprises and corporate employees often take advantage of this financial trend to attain financial stability.<\/p>\n
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This financial system, which has existed for years, is one of the most reliable ways many have found to manage money, stay consistent and build the kind of discipline required to move from one financial level to the next.<\/p>\n
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For thousands of Nigerians who rely on informal saving schemes, the money they save daily is more than cash; it is trust. At the centre of that trust are the men and women who quietly shoulder the responsibility of safeguarding people\u2019s hard-earned income.<\/p>\n
\u2018Trust is everything\u2019<\/p>\n
For Bello Anaruwa, a collector in Kpadna village, Abuja, the journey into the business began unexpectedly. Nobody trained him to become an ajo collector. Labourers, mostly northern migrants working in Abuja, began asking him to keep their money until they were ready to return home. He kept their savings and returned every naira whenever it was needed.<\/p>\n
That simple act of trust gradually evolved into a structured savings business.<\/p>\n
\u201cI realised that there was need for a proper saving system, so I printed contribution cards and introduced daily savings to intending customers,\u201d he said.<\/p>\n
Today, Bello manages between N150,000 and N250,000 in contributions daily and has built a customer base of more than 1,000 people. Besides running the savings business, he also owns a provision store and provides Point of Sale (POS) and recharge card services.<\/p>\n
Despite handling large sums of money, he said disappearing with customers\u2019 savings had never crossed his mind.<\/p>\n
\u201cI have never thought about absconding with people\u2019s money,\u201d he said.<\/p>\n
Like many collectors, Bello earns by deducting the equivalent of one day\u2019s contribution from each customer\u2019s monthly savings. Clear rules, including a requirement that customers give two or three days\u2019 notice before withdrawing their savings, have helped to minimise disputes.<\/p>\n
However, even with these measures, he said the business had become more difficult.<\/p>\n
\u201cThe business is no longer as good as it was about three years ago. Many of my customers are not saving as much as they used to save,\u201d he noted.<\/p>\n
For Abubakar Sani, another collector who operates a daily contribution in Utako village, also in Abuja, trust is equally the foundation of the business.<\/p>\n
He learnt the trade from another collector, Mrs Helen, who introduced him to the rules of managing daily contributions. Today, he offers different saving plans, including N150,000, N200,000 and N300,000 contribution packages.<\/p>\n
According to him, although he still keeps all his records manually, he takes the responsibility of managing people\u2019s money seriously.<\/p>\n
\u201cI see this as my business. Everything is based on trust. It has never crossed my mind to run away with anyone\u2019s money,\u201d he said.<\/p>\n
Sani admitted that mistakes occasionally happened, especially on busy days. \u201cSometimes I pay customers and forget to record it immediately. They, however, remind me and I update my records,\u201d he noted.<\/p>\n
He also told Weekend Trust that handling up to N5 million at different times rather strengthened than weaken his commitment to accuracy.<\/p>\n
Unlike Bello and Abubakar, Susan Obe didn\u2019t set out to become an ajo collector.<\/p>\n
Her savings group was born during the COVID-19 pandemic in 2020 when she and a few colleagues struggled to raise lump sums for annual rent.<\/p>\n
\u201cWe simply wanted an easier way to save for house rent because paying a year\u2019s rent at once was difficult,\u201d she recalled.<\/p>\n
Without any formal training, she organised a monthly contribution group among colleagues. And what started as a small initiative grew into six different contribution categories, ranging from N25,000 to N300,000 monthly.<\/p>\n
\u201cI don\u2019t really see it as a job. It is simply people coming together to save for their different needs,\u201d she said.<\/p>\n
Unlike commercial collectors, Obe said she didn\u2019t make profit from the arrangement as members contribute additional N1,000 over the 10-month cycle to cover bank charges.<\/p>\n
For her, trust goes beyond collecting money. \u201cIf someone needs their payout before their scheduled turn because of an emergency, I do my best to source the money for them,\u201d she also said.<\/p>\n
Managing more than N5 million in monthly contributions, with transactions reaching as much as N6 million, she said she had never lost money by default because most participants are people she knows personally or referrals from trusted friends and family.<\/p>\n
Technology has also changed how she manages the group. On this she said: \u201cBank transfers are usually prompt, and whenever there is an issue, I contact my bank\u2019s customer service through the social media.\u201d<\/p>\n
Reputation<\/p>\n
Although their methods differ, the three collectors share a common currency: reputation.<\/p>\n
In a business with few formal guarantees, no insurance and little paperwork beyond notebooks, cards and transfer records, their names have become their greatest assets. A single broken promise could destroy years of goodwill, while every successful payout strengthens the confidence that keeps customers returning.<\/p>\n
The value of these savings groups is perhaps best reflected in the experiences of the people who depend on them.<\/p>\n
A member of Obe\u2019s savings circle said the scheme had helped her develop the discipline to save consistently, something she found difficult when managing her finances alone.<\/p>\n
Esther James, a civil servant said, \u201cI joined Susan\u2019s savings group in 2022 after struggling to save consistently on my own. Whenever my salary came, something would always come up and I would end up spending the money. The group gave me discipline because I knew I had to contribute monthly. I used my first payout to pay my house rent without borrowing from anyone. Since then, I have remained in the group.<\/p>\n
\u201cWhat I appreciate most is that Susan is transparent. She keeps everyone informed, and if there\u2019s any issue, she communicates with us immediately. That has made it easy for us to trust her.\u201d<\/p>\n
Another member of Obe\u2019s savings group, Mary Daniel said, \u201cA friend introduced me to the group in 2023. At first, I was sceptical because there are many stories of people losing money in informal savings schemes. But after watching how the group operated for a while, I decided to join. The savings have helped me restock my business several times without taking loans. I also like the fact that the contribution amount is flexible, so I can choose a plan that suits my income. Susan treats everyone fairly, and that has kept many of us in the group.\u201d<\/p>\n
Ibrahim Musa, a father of four and provisions trader who saves with Bello also said, \u201cI have been saving through ajo for several years because it helps me plan ahead. If I keep the money with me, there is always something that comes up and I end up spending it. But once I hand it over to my collector, I know it is safe until I need it.<\/p>\n
\u201cThe biggest benefit has been paying my children\u2019s school fees and expanding my business. There were times I used my savings to buy more goods for my shop before festive periods, and it increased my profit. The system has really helped me because it teaches discipline and makes it easier to raise a lump sum when you need it.\u201d<\/p>\n
As economic pressures continue to squeeze household incomes, many contributors may be saving smaller amounts than before. But for these custodians of informal savings, the business is more than money.<\/p>\n
Every contribution they collect represents someone\u2019s rent, children\u2019s school fees, market capital or future plans. And every day, they are entrusted with protecting those hopes until it is time to hand them back.<\/p>\n
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