In a bold move aimed at restructuring the commercial landscape within his jurisdiction, His Royal Majesty, Oba Adeyeye Enitan Ogunwusi Ojaja II, the Ooni of Ife, has abolished the Association of Traders in Ife and imposed stringent penalties on those who violate the directive.
The decision, which was announced through a royal proclamation, marks a significant departure from the existing framework governing local trade associations in Ife. According to palace sources, the Ooni expressed concerns over the inefficiencies and alleged corrupt practices within the traders’ association, which he believes have hindered economic growth and fair business practices in the region.
Under the new directive, all existing structures of the Association of Traders within Ife jurisdiction are dissolved with immediate effect. Furthermore, the Ooni has instructed local authorities to ensure strict compliance with the abolition, warning that severe penalties will be imposed on any individual or group found flouting the order.
Speaking on behalf of the palace, the palace officials and Chiefs reiterated the Ooni’s commitment to fostering a transparent and equitable business environment in Ife. “His Majesty’s decision reflects his dedication to promoting fairness and eliminating barriers that impede economic progress.”
The announcement has elicited mixed reactions among residents and stakeholders in Ife. While some traders have expressed support for the Ooni’s initiative, citing expectations of improved business conditions, others have voiced concerns over the immediate implications of the abolition on their livelihoods.
In response to queries regarding alternative arrangements for traders, palace officials assured that plans are underway to establish a new regulatory framework that will ensure inclusive participation and adherence to modern business practices. Details regarding the formation and guidelines of any future trade associations are expected to be communicated in due course.
The Ooni of Ife, revered as a custodian of tradition and a progressive leader, has in recent years implemented various reforms aimed at modernizing Ife’s cultural and economic landscape. His latest decision to abolish the Association of Traders underscores his proactive approach to addressing systemic challenges and promoting sustainable development within his domain.
As the community adjusts to these changes, stakeholders are urged to cooperate with the palace and local authorities to facilitate a smooth transition. The Ooni’s office remains open to dialogue with affected parties to ensure that the interests of all stakeholders are taken into account during the implementation process.
For now, all eyes are on Ife as the community navigates this significant transition in its commercial sector under the guidance of its visionary monarch, Oba Adeyeye Enitan Ogunwusi Ojaja II.
