Question 3
Financial InstitutionsThe role of the Central Bank in the economic development of Nigeria is to
- A.give short-and medium-term loans to the public
- B.give financial and technical advice to customers
- C.use cheques and bankdrafts to facilitate business transactions
- D.maintain a stable price system
Show the answer and explanation
Answer: D (maintain a stable price system)
Explanation
The Central Bank controls money and credit to keep prices stable, which supports development. It does not lend to or advise the general public.