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JAMB Economics 1980 Question 44

Question 44

Financial Institutions

Which of the following is NOT a function of Nigerian commercial banks?

  1. A.Acceptance of deposits
  2. B.Lending of money
  3. C.Investment in securities and businesses
  4. D.Issue of currency
  5. E.Selling and buying of travellers cheques.
Show the answer and explanation

Answer: D (Issue of currency)

Explanation

Only the Central Bank issues Nigeria's currency.