BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking

Identifying non-functions of the Central Bank of Nigeria.

Question

Which of the following is NOT a function of the Central Bank of Nigeria?
A. Issuing and distribution of Nigerian currency
B. Issuing and dealing in shares and debentures
C. Management of Nigeria’s external reserves
D. Promotion of monetary stability
E. Banker and financial adviser to government

Answer

B. Issuing and dealing in shares and debentures

Explanation:
The Central Bank of Nigeria is responsible for currency issuance, managing external reserves, promoting monetary stability, and serving as a banker to the government. It does not engage in issuing or dealing in shares and debentures, which is typically the role of commercial banks.

Tags: Banking Law, Central Bank, Financial Functions, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

Uploader: Dotse