An evaluation of pre-colonial currency systems through archaeological remains in Ijebu-Ode Local Government Area, Ogun State

An evaluation of pre-colonial currency systems through archaeological remains in Ijebu-Ode Local Government Area, Ogun State

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Background of the Study:
Pre-colonial currency systems offer invaluable insights into the economic sophistication and cultural interactions of ancient societies. In Ijebu-Ode, archaeological remains such as coinage, trade tokens, and standardized weights serve as tangible evidence of complex monetary practices (Adebayo, 2023). These artifacts highlight not only economic transactions but also the social and political structures underpinning market exchanges. Advanced analytical techniques, including metallurgical analysis and contextual stratigraphy, have recently allowed for more precise interpretations of these early currency systems (Balogun, 2024). The region’s rich commercial history, underscored by active trade networks across West Africa, underscores the importance of these findings. The integration of indigenous oral histories further enriches the narrative, linking archaeological evidence with traditional economic practices (Ogunleye, 2025). This research aims to comprehensively evaluate the pre-colonial currency systems in Ijebu-Ode, thereby contributing to broader understandings of economic history and cultural exchange in the region (Adebayo, 2023).

Statement of the Problem:
Despite the evident importance of pre-colonial currency systems, the archaeological record in Ijebu-Ode remains underexplored. Limited artifact recovery and insufficient interdisciplinary approaches have resulted in gaps in understanding the design, usage, and socio-economic impact of these currency systems. This lack of comprehensive study hinders the reconstruction of ancient trade practices and economic organization, calling for focused research that combines material analysis with indigenous historical accounts (Balogun, 2024; Ogunleye, 2025).

Objectives of the Study:

1. To analyze the material composition and design of pre-colonial currency artifacts.
2. To reconstruct the economic and social context of these monetary systems.
3. To integrate archaeological data with indigenous narratives for a holistic interpretation.

Research Questions:

1. What are the defining characteristics of pre-colonial currency artifacts in Ijebu-Ode?
2. How did these artifacts function within the region’s trade networks?
3. What role do indigenous narratives play in interpreting these currency systems?

Research Hypotheses:

1. Pre-colonial currency artifacts exhibit distinct metallurgical properties reflective of local practices.
2. The design of currency artifacts is closely linked to the region’s socio-economic organization.
3. Integrating oral histories with archaeological data provides a more complete understanding of ancient monetary systems.

Significance of the Study:
This study is significant as it deciphers pre-colonial economic practices through material culture, enriching our understanding of ancient monetary systems. The findings will contribute to regional economic history, inform museum curation, and support heritage education (Adebayo, 2023).

Scope and Limitations of the Study:
This study is limited to the evaluation of pre-colonial currency systems in Ijebu-Ode Local Government Area, Ogun State, using artifact analysis and ethnographic interviews. Limitations include incomplete artifact recovery and the interpretive challenges of reconciling oral histories with material evidence.

Definitions of Terms:

• Currency Systems: Methods and materials used for trade and economic exchange.
• Metallurgical Analysis: Scientific examination of metal artifacts to determine composition.
• Trade Tokens: Objects used as a medium of exchange in ancient economies.

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