A restricted pharmaceutical storage and dispensing cabinet which has a main supporting shell and a stock supporting rack internally of the shell, having vertically and horizontally aligned rows of stock supporting cubicles. The rack is secured by an inner closure which includes an operating panel affording limited access to items of stock. A mechanical locking arrangement is provided for locking and unlocking the inner closure. The operating panel is accessible through an outer locked shell with an unlocking arrangement which include an electrical key reader and readable operator assigned keys. A recording system is provided [with provision] for automatic accountability of items dispensed, date and time of removal and identification of recipient.