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JAMB Economics 2014 Question 29

Question 29

Financial Institutions

One of the challenges facing the banking industry in Nigeria is

  1. A.providing loans for investment.
  2. B.creating more money.
  3. C.ensuring technological security.
  4. D.providing employment.
Show the answer and explanation

Answer: C (ensuring technological security.)

Explanation

Banks face fraud and cyber attacks, so keeping their electronic systems secure is a major challenge.