Eva-Evo Isoko

Members of the Eva-Evo Isoko make regular contributions to an account on meeting days, held the last Friday of every month. Each member contributes based on their earnings or financial strength, but a fixed amount is also added by each member of the group.

The sum contributed is then lent out to a known business entity which returns profits to the organization at the end of each year. The profit is then distributed to all members of the group as percentages of the total amount contributed in a calendar year. The fixed amount contributed, called socials, is kept and when any member of the group has an event such as a funeral, wedding or birthdays, an amount is presented to that member to help with the cost.

J.J Urade, a one time president of the Eva-Evo Isoko, has this to say: "it is not just about the contributions but the communion of members from different communities in Isoko, united by their language and the need to uphold their sociocultural beliefs while also helping themselves in times of difficulty, this creates a lasting bond amongst members". 

Another member of the group (name withheld) said the collective financial power of the group enabled its members to venture into capital intensive projects that would otherwise be impossible. A third (Mrs Grace) noted that the group also provides secondary school scholarships for children of members.

At present, the Eva-Evo Isoko also owns properties within Ozoro. When such lands are sold, the sum is shared amongst members and members of the group can also buy lands from the association with a spread out payment plan. In this way the Eva-Evo Isoko straddles the line between philanthropic organization and regional financial institution, raising a number of interesting questions about the interaction between generosity and the broader financial economy. 

Contributors: El-Igboja Oro-Oghene, Ikiofu Fortune