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JAMB Economics 1981 Question 14

Question 14

Financial Institutions

Which of the following is NOT a major function of a Central Bank?

  1. A.Serving as Government's bank
  2. B.Serving as banker's bank
  3. C.Acceptance of deposits from the public
  4. D.Responsibility for monetary policy
  5. E.Serving as lender of last resort.
Show the answer and explanation

Answer: C (Acceptance of deposits from the public)

Explanation

Taking deposits from the general public is the work of commercial banks, not the Central Bank.