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

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  • Chibuike Uche

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.

Suggested Citation

  • Chibuike Uche, 1998. "Accounting and control in Barclays Bank (DCO): the lending to Africans episode," Accounting History Review, Taylor & Francis Journals, vol. 8(3), pages 239-260.
    • Handle: RePEc:taf:acbsfi:v:8:y:1998:i:3:p:239-260
    DOI: 10.1080/095852098330404
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    References listed on IDEAS

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    1. Uche, Chibuike Ugochukwu, 1997. "Banking ‘scandal’ in a British west African colony: the politics of the African Continental Bank crisis1," Financial History Review, Cambridge University Press, vol. 4(1), pages 51-68, April.
    2. Uche, Chibuike Ugochukwu, 1997. "Bank of England vs the IBRD: Did the Nigerian Colony Deserve a Central Bank?," Explorations in Economic History, Elsevier, vol. 34(2), pages 220-241, April.
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    Cited by:

    1. Malcolm Anderson, 1999. "Accounting History Publications 1998," Accounting History Review, Taylor & Francis Journals, vol. 9(3), pages 375-384.
    2. Tharusha N. Gooneratne & Zahirul Hoque, 2013. "Management control research in the banking sector," Qualitative Research in Accounting & Management, Emerald Group Publishing Limited, vol. 10(2), pages 144-171, June.
    3. Uche, Chibuike U., 2001. "The politics of monetary sector cooperation among the Economic Community of West African States members," Policy Research Working Paper Series 2647, The World Bank.

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