CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
In the name of Allah most beneficial most merciful may the blessing and peace of Allah be upon our master Muhammad, his relations6 his companions and those who follow to the day of judgment.
The informal section in Nigeria refer to economic activities in all sector of the economy that are operated outside the purview of government resolution. This sector may be invisible, irregular parallel. Nonstructural backward, underground subterranean, unobserved or residual according to one scholar says informal economic activities a large which ranges from small scale large self-employment activities most of them are traditional occupation and method of production, others include such financial and economic endeavors of subsistence nature as: retail trade ,transports, restaurant repair services, financial intermediation and household or other personal activities, Adamu (1996) activities of informal sector in Nigeria are difficult to measure. They are highly dynamic and contribute substantially to general growth of economy and personal house hold income.
Therefore Islam is a religion and it` scomplete way of life, its teaching comprises every aspects of human endeavors being a spiritual or mundane, thus Islam is not only concerned with Religious rituals but also deal with all aspects of human life, be a social political economical or religious.
Economically Islam encouraged self-reliance and exhort dependency. Hence Islam encourages its adherents to move everywhere on earth seeking for their daily break, but in a decent and legal manner approach by shari’ah.
In the Glorious Qur’an f Glorious Qur’an or example Allah (SWT) permitted business transaction and prohibited usury. These are other rules and regulation governing to Business and commercial activities, include debt which are clearly spelt out in the Glorious Qur’an.
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