According to reports, Ajibola had the idea after visiting the United States and seeing vouchers being used as a form of exchange in some factories.
When he returned to Nigeria in August 2021, he devised the voucher system. Previously, the monarch had converted a portion of the community's dormant Nigerian Postal Service office into a microfinance institution known as the Ijara-Isin Development Fund Centre (IDFC). The vouchers are now distributed by the microfinance bank.
Because IDFC does not have a license to operate as a microfinance bank, it uses the license of Mount Olive Microfinance Bank, Ilorin, which is owned by the king.
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