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JAMB Commerce 1998 Question 27

Question 27

Banking

The assets, liabilities and general management of a distressed bank may be taken over by

  1. A.International Bank for Reconstruction and Development
  2. B.Nigerian Industrial Development Bank
  3. C.Nigeria Deposit Insurance Corporation
  4. D.Nigerian Bank for Commerce and Industry.
Show the answer and explanation

Answer: C (Nigeria Deposit Insurance Corporation)

Explanation

The NDIC can take over and manage a failing (distressed) bank to protect depositors.