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One of the functions of commerical banks that cannot be performed by central banks is

Commerce
JAMB 2022

One of the functions of commerical banks that cannot be performed by central banks is

  • A. collection of old notes
  • B. collection of deposits from the public
  • C. issuance of treasury bills
  • D. printing of bank notes
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Correct Answer: Option B
Explanation

Commercial banks are financial institutions which accept deposits and other valuables from the public for safekeeping with the sole aim of making profit. One of the functions of commercial banks is the acceptance of deposit and lending to customer etc.


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