The Nigerian bank for commerce and industry is?
ECONOMICSJAMB 2020
The Nigerian bank for commerce and industry is?
- A. a commercial bank
- B. a development bank
- C. an industrial bank
- D. a merchant bank
Correct Answer: B. a development bank
Explanation
Development banks are specialized banks that provide medium and long-term finance to the industrial and agricultural sectors. The Nigerian bank for commerce and industry is an example of a development bank. It provides loans and finances for entities involved in the industrial and agricultural sectors.
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