ABSTRACT
This research was undertaken to make the position of selected Muslim scholars in Northern Nigeria on usury Riba. The study highlighted the argument in paper money either usury occurs in paper money or only on gold and silver currency, the fact of the matter was that, presently, in our daily transactions, we used paper money in place of gold and silver currency. However, some Muslim see the bank interest as a compensation of loss in purchasing power, which is wrong. In addition the research has achieved in defining the concept of usury. Analyzing the divergent views of the Nigerian Muslim scholars on usury. More so, the study used random sampling in selecting the scholars to use in collections of data. The instrument used for collections of data, was face to face interview with some selected Northern Nigeria Muslim scholar on usury. However, it has been discovered that, what occurs on gold and silver currencies is also applicable to paper currency, such as Zakah and Riba. Moreover, the government should establish an interest-free system of economic were by capital generates one of the two, profit or loss.