Question 43
BankingThe principal objectives of the Central Bank of Nigeria can be classified broadly into
- A.bankers' bank, lender of last resort and issuance of currency
- B.service, currency management and financial intermediation
- C.banking services, foreign exchange operations and open markets operations
- D.service, monetary policy and developmental functions.
Show the answer and explanation
Answer: A (bankers' bank, lender of last resort and issuance of currency)
Explanation
The CBN acts as bankers' bank and lender of last resort, and it issues the currency.