On 1 January 1900, the Royal Charter granted to the Royal Niger Company in 1886 was revoked. The British Treasury paid the Company £865,000 in compensation for its assets, territorial rights, and a guaranteed share of mineral royalties for 99 years. The territories were folded into two new protectorates: Northern Nigeria and Southern Nigeria. Sir Frederick Lugard was appointed High Commissioner of the Northern Protectorate.
Acquisition1899· £865,000
Niger Coast and Royal Niger Company assets purchased
The British Crown bought out the Royal Niger Company's charter for £865,000 — the legal birth of what would become Nigeria.
Sources
- · UK National Archives, CO 446
- · Flint, John. Sir George Goldie and the Making of Nigeria (1960)
Methodology
Tier 1 · primary
Courts. Gazettes. National archives.
Tier 2 · corroborating
OCCRP. HRW. BudgIT. TheCable.
Redline
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