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JAMB Economics 1986 Question 30

Question 30

Financial Institutions

The Nigerian Bank for Commerce and Industry is

  1. A.a commercial bank
  2. B.a development bank
  3. C.an industrial bank
  4. D.a merchant bank.
Show the answer and explanation

Answer: B (a development bank)

Explanation

The NBCI was a government development bank set up to give medium- and long-term finance to indigenous businesses.