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The difference between the central bank and commercial bank is that the former

Commerce
JAMB 2023

The difference between the central bank and commercial bank is that the former

  • A. serves as lender of last resort
  • B. discount treasury bills
  • C. saves valuable of individual
  • D. give loans to the public
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Correct Answer: Option A
Explanation

The central bank serves as lender of last resort, bankers bank . The CBN issues the country's currency and facilitates foreign exchange.

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