Consolidation of Financial Institutions, EFCC, ICPC, NAFDAC & SON - SS3 Economics Past Questions & Answers - page 1

1

What is the purpose of consolidating financial institutions?

A

To increase the risk of bank failures

B

To reduce the efficiency of the banking system

 

C

To improve the stability of financial institutions

CORRECT OPTION: c
2

Which agency is responsible for investigating and prosecuting corruption in Nigeria?

A

NAFDAC

 

B

SON

C

ICPC

CORRECT OPTION: c
3

What is the primary responsibility of NAFDAC?

A

Ensuring the safety and quality of food, drugs, and other products

 

B

Setting and enforcing standards for products and services

C

Investigating and prosecuting economic and financial crimes

CORRECT OPTION: a
4

What is the primary responsibility of SON?

A

Investigating and prosecuting corruption

B

Ensuring the safety and quality of food, drugs, and other products

 

C

Setting and enforcing standards for products and services

CORRECT OPTION: c
5

What is the primary responsibility of EFCC?

A

Ensuring the safety and quality of food, drugs, and other products

B

Investigating and prosecuting economic and financial crimes

C

Setting and enforcing standards for products and services

 

CORRECT OPTION: b
6

Which agency is responsible for enforcing regulations to protect consumers from harmful products in Nigeria?

A

EFCC

B

ICPC

 

C

NAFDAC

CORRECT OPTION: c
7

What is the purpose of consolidating financial institutions? 

 

The purpose of consolidating financial institutions is to improve the stability of financial institutions

8

What is the primary responsibility of NAFDAC?

 

The  primary responsibility of NAFDAC is ensuring the safety and quality of food, drugs, and other products.

9

Which agency is responsible for investigating and prosecuting corruption in Nigeria?

Independent Corrupt Practices and Other Related Offences Commission (ICPC).

 

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