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JAMB Economics 2002 Question 20

Question 20

Financial Institutions

The primary objective of the NDIC is to

  1. A.give protection to the CBN against fraud
  2. B.provide regulations guiding the finance houses
  3. C.give protection against fraud
  4. D.give protection to bank depositors
Show the answer and explanation

Answer: D (give protection to bank depositors)

Explanation

The Nigeria Deposit Insurance Corporation insures bank deposits so depositors are protected if a bank fails.