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WAEC Commerce 2012 Question 19

Question 19

Banking

Which of the following acted as the central bank for West African countries before their independence?

  1. A.The West African Clearing House
  2. B.The British Bank for West Africa
  3. C.The West African Currency Board
  4. D.The African Development Bank
Show the answer and explanation

Answer: C (The West African Currency Board)

Explanation

The West African Currency Board issued currency for British West African colonies before central banks were set up.