The monetization of the economy of Nigeria with modern legal tender was carried out by the British colonial administration under the charge of Lugard. Mockler-Ferry- man (1902) and Lugard (1919) (cited in Nwokeji 1998) "postulated that a speedy monetization would be a panacea to slaveholding" (p.338). Nwokeji (1998) found that it was probably a pretext to introduce a tool that will promote the production of cash crops and one will will serve taxation purposes. The works of Hopkins (1973) and Jones (1989) (cited in Nwokeji 1998) stated that “the failure of this project derived from the fact that cowries and manilla, as opposed to slaves, were the predominant means of exchange since the early nineteenth century” …show more content…
The introduction of direct taxation in Igbo land and the subsequent rumours of taxing women as narrated by Afigbo (1966); Korieh (2010) & Van Allen (1975) culminated in one of the most popular uprising or revolt against the British colonial administration by women in Africa. "The 1929 Women’s Revolt and other protests (...) were largely a reaction to the warrant chief system among other issues, such as taxation and the Great Depression" (Korieh 2010, p75). According to Korieh (2010) “colonial taxation and the high cost of living deprived peasants of any surplus"