Coins of British India Coins of British India British trading posts in India were first established by the East India Company (EIC) early in the seventeenth century, which quickly evolved into larger colonies covering a significant part of the subcontinent. Early settlements or factories included Masulipatnam (1611) and Madras (1640) in the south, Surat (1612) in the west, and modern-day Kolkata (1698–99) in the east. These colonies gave rise to Madras Presidency, Bombay Presidency, and Bengal Presidency, and each Presidency had a separate coinage and monetary system. In 1835, the EIC adopted a unified system of coinage throughout all British possessions in India and
Lagos Colony Lagos as a British colony via the Lagos Treaty of Cession. King Dosunmu's powers were significantly reduced and consul William McCoskry became acting governor. As a colony, Lagos was now protected and governed directly from Britain. Africans born in the colony were British subjects, with full rights including access to the courts. By contrast, Africans in the later protectorates of southern and northern Nigeria were protected people but remained under the jurisdiction of their traditional rulers. In the early years, trade with the interior was severely restricted due to a war between Ibadan and Abeokuta. The Ogun River leading to