Barclays Bank of Nigeria Limited/Union Bank Nigeria
The Colonial Bank opened a branch at Lagos in 1917 and the branch network expanded under Barclays. Barclays Bank of Nigeria was incorporated locally as a wholly owned subsidiary of Barclays Bank (DCO) on 30 May 1969. In 1976 the federal government of Nigeria took a controlling interest, leaving Barclays with 40%.
On 12 March 1979 the name changed to Union Bank of Nigeria and Barclays' interest was reduced further to 20%. In 1989 Barclays disposed of its minority interest. Anticipating eventual withdrawal from Union Bank, Barclays opened a Representative's Office in 1982, which remained as the Group's vehicle for representation in Nigeria after 1989.
Material available at Group Archives:
- annual reports and accounts
- prospectus
- Other material relating to Nigeria can be found within the records of Barclays International