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The History Of Accounting In Nigeria

The history of accounting in Nigeria

In the olden days, properly organized systems of garde and government were in existence in the ancient kingdoms of Benin, Oyo Borno etc.Nigeria had a long standing history in international trade even before colonization come to Africa. The granting of royal charter to Royal Niger company in 1886 necessitated the preparation if proper records by the company. From that time till independence the laws govering accounting in Nigeria was tailored after her colonial master ( Britain ). The association of accountant of Nigeria, which later matemorphosed to the institute of chartered Accountant of Nigeria was established in 1960. Majority of the mambers were trained in Britain. In 1965 , the federal government passed in act of Parliament No . 15 establishing the institute of chartered Accountants of Nigeria. The doyen of accounting profession in Nigeria is Chief Akintola Williams. The institute has about 26,000 Accountants as at December 2008 and more than 120,000 as students members.

That is the history of accounting in Nigeria as an accounting student you must know these.

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Akintola Williams Benin Britain Nigeria Oyo Borno

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