Question 33
Financial InstitutionsWhich of the following is a function of the Central Bank of Nigeria?
- A.Serving as custodian of important valuables
- B.Giving advice to customers
- C.Serving as bankers' bank
- D.Creating credit
Show the answer and explanation
Answer: C (Serving as bankers' bank)
Explanation
The central bank keeps the reserves of commercial banks and lends to them: it is the bankers' bank.