Quiz 3.1- Central Bank

In addition to supervising banks, the central bank also acts as

A transport company

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Banker to the government

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A retail shop

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A manufacturing firm

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Despite economic challenges, the institution responsible for issuing currency in Nigeria is the

Commercial bank

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Ministry of Finance

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Central bank

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Insurance company

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Although many banks exist in the country, the one regarded as the lender of last resort is the

Merchant bank

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Mortgage bank

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Community bank

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Central bank

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Unlike commercial banks, the main aim of the central bank is to

Maximize profit

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Sell shares

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Control money supply

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Import goods

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Even during inflation, the central bank can reduce excess money in circulation through

Building markets

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Open market operations

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Advertising products

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Increasing imports

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Apart from controlling credit, the central bank is also responsible for

Printing currency

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Producing food crops

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Exporting crude oil

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Constructing roads

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While commercial banks deal directly with customers, the central bank mainly regulates

Factories

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Schools

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Commercial banks

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Churches

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In order to maintain economic stability, the Central Bank of Nigeria may

Control interest rates

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Sell consumer goods

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Build airports

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Produce electronics

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Besides safeguarding foreign reserves, the central bank also

Supervises financial institutions

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Manufactures vehicles

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Sells agricultural tools

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Runs supermarkets

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Even though taxes are collected by government agencies, the central bank mainly helps to

Control the banking system

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Train teachers

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Produce cement

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Operate seaports

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SSS1 Economics

FIRST TERM

Participants 7

Quiz 3.1- Central Bank

Samson Popoola May 13, 2026

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