AN APPRAISAL OF THE INTERNAL CONTROL SYSTEM IN COMMERCIAL BANKS IN NIGERIA. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
ABSTRACT
An appraisal of the internal control system in commercial banks in Nigeria have attracted the researcher to investigate those strengths and weakness, of these study. After every thing the researcher concluded that the internal control system in commercial bank is sound in principle and effective in operation.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Trade in Nigeria before the arrival of the Arras and Portuguese, trade before the early 18thcentury was strictly by barter. But in 1870 when those trade arrived, a mixed barter money economy was introduced during this period, commercial and economic activities among African’s were barters where as such activities between Africans and Arras Portuguese were commodity money or the other, such commodity mouse used include items like coral breads, cowries, brass and copper, rods, bottles cases of gins, livestock and even Slaves who by then, served more as beast of burden.
The Portuguese, who where said to be the first Europeans to visit the west African coast eventually popularized the use cowries as monetary instrument in their trading activities in the Ancient kingdom of Benin. The Portuguese there after monopolized trading activities in the west African coast, including Nigeria, African coast.
Just a few years after the arrival of those British traders, they conquered the Portuguese traders and took over the monopoly of all commercial and economic activities in four different nations on the West African coast namely gold coast (now Ghana) Gambia, Sierraleon, and Nigeria. It was not long when it was discovered that those British traders did not only come to trade, but in the actual sense to rule. This how ever lead to the colonial(Administration striation. With the subsequent setting up of a British colonial Administration in those countries, the use of currency a namely but British Sylva coins was greatly encourage. This however was the first step in the c. of monetising those economics, which in actual sense facilited exchange greatly discourage barter.
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