passwella.
Menu

JAMB Economics 2004 Question 9

Question 9

Financial Institutions

Which financial institution is charged with the formulation of monetary policies in Nigeria?

  1. A.The Central Bank of Nigeria.
  2. B.The Nigerian Deposit Insurance Corporation.
  3. C.The Abuja Commodity Exchange.
  4. D.The Lagos Stock Exchange.
Show the answer and explanation

Answer: A (The Central Bank of Nigeria.)

Explanation

The Central Bank of Nigeria is responsible for monetary policy: controlling money supply, credit and interest rates.