ABSTRACT
The traditional thrift collection system, commonly known as ajo or esusu, has long been a cornerstone of informal financial practices in Nigeria, particularly among rural women. These systems provide a vital means of savings and credit for individuals who are often excluded from formal banking services. However, the manual methods employed in these systems are plagued by inefficiencies, lack of transparency, and susceptibility to fraud, which hinder their effectiveness and scalability. This project seeks to address these challenges by developing a digital platform to streamline thrift collection systems, with a focus on empowering rural women in Nigeria. By leveraging insights from key studies, including Bridging Tradition and Technology (Adelaja), Digitization of ESUSU Thrift Savings Scheme (Nwachukwu & Uchenna), and Digital Currency and Financial Inclusion in Nigeria (Ekong & Ekong), this project highlights the transformative role of digitization in financial services. The primary aim of this project is to design and implement a secure, user-friendly, and scalable digital platform that automates the thrift collection process. The platform will enable users to register, contribute to thrift cycles, track their savings, and receive payouts seamlessly. Key features of the system include real-time transaction tracking, automated reminders, secure payment integration, and role-based access control for administrators, agents, and members. The platform is developed using VB.NET for the front-end and SQLite Studio for database management, ensuring robust performance and data security. The project adopts a structured methodology, beginning with a comprehensive analysis of the existing thrift collection systems and their limitations. This is followed by the design and implementation of the digital platform, which incorporates user-friendly interfaces, secure authentication mechanisms, and efficient database management. The system is rigorously tested to ensure functionality, reliability, and performance under various conditions, including high user loads and potential security threats. xi The significance of this project lies in its potential to enhance financial inclusion and empower rural women by providing them with a reliable and transparent means of saving and accessing funds. By digitizing thrift collection systems, the platform addresses critical issues such as fraud, poor record-keeping, and limited accessibility, thereby fostering trust and participation among users. Furthermore, the system bridges the gap between informal savings groups and formal financial institutions, enabling users to access additional financial services such as loans and interest-bearing accounts. The project also highlights the importance of digital literacy and infrastructure development in rural areas to ensure the successful adoption of the platform. To this end, the system is designed to be intuitive and accessible, with features such as multi-language support and mobile compatibility to cater to users with varying levels of technical expertise. In conclusion, this project demonstrates the transformative potential of digital technology in modernizing traditional financial systems. The proposed platform not only addresses the limitations of manual thrift collection methods but also provides a scalable and sustainable solution for promoting financial inclusion and economic empowerment among rural women in Nigeria. Future enhancements could include mobile application integration, cloud-based database migration, and advanced analytics to further improve the platform’s functionality and reach
