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The Nigerian bank for commerce and industry is?


Question

The Nigerian bank for commerce and industry is?

Options

A)
a commercial bank
B)
a development bank
C)
an industrial bank
D)
a merchant bank

The correct answer is B.

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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Dicussion (1)

  • 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.