Accounting and control in Barclays Bank (DCO): the lending to Africans episode

Chibuike Uche

Accounting History Review, 1998, vol. 8, issue 3, 239-260

Abstract: This paper analyses the accounting, control and operational consequences of a pre-independence experiment by Barclays Bank (DCO) in the British Nigerian colony to liberalize its credit policy towards Africans. This was partly an attempt to develop African business, an area previously neglected by foreign banks. The new policy also appeased Africans who believed that the colonial banks discriminated against them. This experiment resulted in 'alarming' bad debts and led to a reappraisal of the bank's accounting, control and operational procedures. The paper highlights the limitations of internal controls in an era of change.

Keywords: Accounting; Control; Africans; Credit; Barclays Bank Dco (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1080/095852098330404

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