247BUSINESS
FALOLA, OLOWU OPPOSE MONETISATION OF TRADITIONAL TITLES
Historian Professor Toyin Falola and the Olowu of Owu Kingdom, Oba Saka Matemilola, have criticised the growing practice of linking traditional titles and chieftaincy to financial contributions.
They spoke during The Toyin Falola Interview, themed “Indigenous Education, Character Formation and the Making of Citizens.”
Falola questioned the increasing association between money and the conferment of traditional titles, noting that he had previously received such titles without making financial payments to the traditional rulers involved.
Responding, Matemilola acknowledged that financial considerations had become increasingly prominent in the conferment of traditional titles.
The monarch argued that traditional leadership should primarily be based on service to the community rather than wealth.
He said the Owu Kingdom therefore considers an individual's contribution to the community before recognising them with a traditional title.
Matemilola also highlighted the activities of the Olowu Hope Initiative, which focuses on education, healthcare, skills acquisition, women empowerment, environmental sustainability and climate action.
According to him, the initiative has provided interest-free loans to more than 300 women without recording a default.
The discussion also featured academics and professionals who examined indigenous education, character formation and citizenship.
Matemilola reiterated that traditional titles should recognise individuals who have made meaningful contributions to their communities.