ABSTRACT
This chapter focuses on the Yoruba view of money. It proceeds from the premise that to understand a phenomenon, it is essential first to understand the idea on which it is based. An idea is given specific form in an invention, institutional development, or just an historical event. The form combines with other phenomena and experiences to reshape the idea. To put it concretely, the monetization of Yoruba economy in precolonial times promoted the development of the Yoruba idea of money. As monetization increased, new ideas were developed, which in turn influenced the further development of the financial institution. The reshaped institutions modified the idea, and so on ad infinitum. Therefore, it should be recognized from the onset that the Yoruba view of money is quite dynamic.
