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WAEC Economics 1992 Question 34

Question 34

Financial Institutions

Which of the following is not the function of a commercial bank?

  1. A.Accepting deposits from the public
  2. B.Serving as banker to the government
  3. C.Lending to the public
  4. D.Safekeeping of valuables
  5. E.Undertaking foreign exchange transactions of customers.
Show the answer and explanation

Answer: B (Serving as banker to the government)

Explanation

Banker to the government is a central bank function.