Economic Institution In Nigeria - JSS3 Social studies Past Questions and Answers - page 1
What is the primary role of commercial banks in Nigeria?
Facilitating financial transactions
Issuing national currency
Implementing monetary policies
Which function is NOT typically associated with commercial banks in Nigeria?
Extending loans
Issuing currency
Providing payment services
What is the primary responsibility of the Central Bank of Nigeria (CBN)?
Facilitating foreign exchange services
Implementing monetary policies
Providing investment banking services
Which function is specific to the Central Bank of Nigeria?
Accepting deposits
Issuing credit cards
Regulating other financial institutions
What is a key function of commercial banks related to the economy's growth?
Issuing national currency
Channeling funds for investments
Managing foreign exchange reserves
Which role is NOT typically associated with the Central Bank of Nigeria?
Managing foreign exchange reserves
Extending loans to businesses
Formulating monetary policies
What service is primarily offered by commercial banks for international trade?
Currency issuance
Foreign exchange management
Investment banking services
Which function is common to both commercial banks and the Central Bank of Nigeria?
Issuing currency
Implementing monetary policies
Extending loans to individuals
What distinguishes the Central Bank of Nigeria from commercial banks in terms of monetary policies?
Extending loans to businesses
Formulating and implementing policies
Channeling funds for investments
Which entity acts as the government's banker in Nigeria?
Commercial banks
Central Bank of Nigeria
Investment banks