JAMB Economics 2006 Question 5

Question 5

Financial Institutions

The major role of NDIC is to

  1. A.insure bank deposits
  2. B.regulate the activities of insurance companies
  3. C.ensure adequate capitalization of insurance companies
  4. D.accept customers' deposits
Show the answer and explanation

Answer: A (insure bank deposits)

Explanation

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