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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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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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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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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts