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JAMB Commerce 1994 Question 26

Question 26

Banking

The financial institution established to boost Nigeria's trade with the rest of the world is called

  1. A.Nigerian Deposit Insurance Corporation
  2. B.Nigerian Economic Reconstruction Fund
  3. C.Nigerian Industrial Development Bank
  4. D.Nigerian Export-Import Bank.
Show the answer and explanation

Answer: D (Nigerian Export-Import Bank.)

Explanation

NEXIM Bank was set up to finance and promote Nigeria's export trade.