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Questions and Answers
What is the significance of commercial banks in the Nigerian financial system?
What is the significance of commercial banks in the Nigerian financial system?
- They account for the bulk of total institutionalized savings (correct)
- They are owned solely by Nigerians
- They are not significant in the Nigerian financial system
- They were the first banks to be established in Nigeria
What was the ownership structure of commercial banks in Nigeria before the indigenization policy was adopted?
What was the ownership structure of commercial banks in Nigeria before the indigenization policy was adopted?
- They were dominated by foreigners (correct)
- They did not exist before the indigenization policy
- They were owned equally by Nigerians and foreigners
- They were owned solely by Nigerians
What was the purpose of the indigenization policy adopted in 1972 and 1977?
What was the purpose of the indigenization policy adopted in 1972 and 1977?
- To change the ownership structure of commercial banks to reflect greater Nigerian ownership (correct)
- To close down all foreign-owned banks in Nigeria
- To reduce the number of commercial banks in Nigeria
- To increase the dominance of foreigners in the Nigerian financial system
