Usury and its Implication on the Economy of Muslim Civil Servants in Nasarawa State, Nigeria

The practice of interest among Muslims is a condemnable act by Islam because of its logical consequences in the economy of people. The aim of this paper is to survey the implication of interest on the economy of Muslim civil servants of Nasarawa state, to be specific the interest charges by the cooperative societies when a member collect any facility. The methodology used is both library and field work where books were consulted and interview were equally conducted. This research is significant as it would serve as a clarion call to the Muslims who either consciously or unconsciously involve in the transactions that have interest or any of its elements, to speed up and desist from partaking in the interest. Muslims should avoid consumption of interest in their financial transaction. The findings revealed that most of Muslim civil servants in Nasarawa state, use to collect the loan from the cooperative societies or banks that charges interest and continue to suffer from financial volatility until they have pay off and their economy is not in an equilibrium position. It is recommended that Muslim civil servants should join Islamic cooperative societies in their places of work and where there is none at all, they should hasten in establishing one.