Abstract
This paper approaches the topic of money from a Nigerian perspective. A proper understanding of money and its role in an economy and society as a whole would require a more rounded view of money and its meaning than what has been provided by the field of Economics. This harmonious view will analyze money through the lenses of different disciplines in social science. The aim is to show that money is a social construct that is embedded in culture and society. Thus, a better understanding of money should reflect this attribute. Beginning with the Nigerian experience, this paper demonstrates the benefit of an interdisciplinary approach to money and finance. Key words: Money, development, job creation, culture, Nigerian society.
Highlights
Global crises, whether financial and/or biological, as we have recently seen with Covid-19, brings to light the importance of monetary issues and policies around the world
We especially focus on the precolonial instruments of money in Nigeria in order to understand the theory of money across different time periods: pre, during- and post-colonialism
The country has gone from being a subsistence economy where exchanges were done on a smaller scale, to being a trade economy of many money things, a colonial economy of British sterling to the currency post-colonial economy
Summary
This paper approaches the topic of money from a Nigerian perspective. A proper understanding of money and its role in an economy and society as a whole would require a more rounded view of money and its meaning than what has been provided by the field of Economics. This harmonious view will analyze money through the lenses of different disciplines in social science. The aim is to show that money is a social construct that is embedded in culture and society. Beginning with the Nigerian experience, this paper demonstrates the benefit of an interdisciplinary approach to money and finance
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