Podcast
Questions and Answers
What is a core responsibility of the Central Bank of Nigeria?
What is a core responsibility of the Central Bank of Nigeria?
- Enforcing drug and law enforcement regulations
- Issuing legal tender currency notes and coins (correct)
- Regulating the stock market
- Conducting routine audits of licensed banks
Which organization is responsible for insuring all deposit liabilities of licensed banks in Nigeria?
Which organization is responsible for insuring all deposit liabilities of licensed banks in Nigeria?
- Economic & Financial Crimes Commission (EFCC)
- Securities & Exchange Commission (SEC)
- National Drug & Law Enforcement Agency (NDLEA)
- Nigerian Deposit Insurance Corporation (NDIC) (correct)
What is one of the reasons for the regulation of the Financial Services Industry?
What is one of the reasons for the regulation of the Financial Services Industry?
- Maintaining stability in the economy (correct)
- Allowing unrestricted money supply growth
- Encouraging risky investments
- Promoting unhealthy competition in the financial markets
What does the Nigerian Deposit Insurance Corporation (NDIC) aim to do in case of imminent or actual financial difficulties of banks?
What does the Nigerian Deposit Insurance Corporation (NDIC) aim to do in case of imminent or actual financial difficulties of banks?
What is one of the responsibilities of every Central Bank, including the Central Bank of Nigeria?
What is one of the responsibilities of every Central Bank, including the Central Bank of Nigeria?
Why is it important for financial intermediaries to maintain depositors' confidence?
Why is it important for financial intermediaries to maintain depositors' confidence?
What is the main purpose of the Nigeria Deposit Insurance Corporation (NDIC)?
What is the main purpose of the Nigeria Deposit Insurance Corporation (NDIC)?
Why do banks need to be regulated?
Why do banks need to be regulated?
What is the primary role of the government in enhancing confidence in the banking industry?
What is the primary role of the government in enhancing confidence in the banking industry?
Why are all activities of banks regulated?
Why are all activities of banks regulated?
What is one of the main reasons for government regulations subjecting banks to certain requirements, restrictions, and guidelines?
What is one of the main reasons for government regulations subjecting banks to certain requirements, restrictions, and guidelines?
What is the primary responsibility of the Nigerian Deposit Insurance Corporation (NDIC)?
What is the primary responsibility of the Nigerian Deposit Insurance Corporation (NDIC)?
What is one of the core responsibilities of a Central Bank, such as the Central Bank of Nigeria?
What is one of the core responsibilities of a Central Bank, such as the Central Bank of Nigeria?
In case of imminent or actual financial difficulties of banks, what does the Nigerian Deposit Insurance Corporation (NDIC) aim to do?
In case of imminent or actual financial difficulties of banks, what does the Nigerian Deposit Insurance Corporation (NDIC) aim to do?
What are some responsibilities of Central Banks with regard to supervising and regulating banks and other Financial Institutions?
What are some responsibilities of Central Banks with regard to supervising and regulating banks and other Financial Institutions?