Zakāt for Financing the Poor in Southwestern Nigeria: Challenges and Prospects
October 17th, 2020
By SaheedAfolabi ASHAFA (PhD)
Zakāt as a subsidiary of Islamic
finance is a welfare package for the less privileged. The resurgence of Zakāt
as a pillar of Islam in Southwestern Nigeria has indeed invigorated the hope of
the have-nots. Expectedly, this is deserving and admirable. There is however, a
need for mutual commitment to sustain this all-important pillar to redeem the
socio-economic conditions of the extant hopeful and fulfill the intent of
Islam. To this end, this work assessed the process of Zakāt management by
non-governmental organizations in Southwestern Nigeria with preference for how
it is being utilized to finance the poor in the region. A qualitative approach
was employed using interview as the major instrument for data collection.
Findings revealed that administrators are making impact in the areas of
improving the socio-economic status of few Zakāt beneficiaries. Recommendations
were offered based on the identified challenges.