An overdraft can only be granted to the holder of a
fixed deposit
savings deposit
loan account
current account
deposit account
Correct answer is D
No explanation has been provided for this answer.
Commerce developed as a result of
speculation
competition
specialization
importation
exportation
Correct answer is C
No explanation has been provided for this answer.
Which of the following is the clearing house for all the banks in the country?
The Federal Mortgage Bank of Nigeria
The Nigerian Industrial Development Bank
The Central Bank of Nigeria
The Nigerian Bank for Commerce and Industry
The National Bank of Nigeria
Correct answer is C
No explanation has been provided for this answer.
If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the
drawee
payee
drawer
acceptor
creditor
Correct answer is A
No explanation has been provided for this answer.
An association that mobilizes the savings of members and channels them to needy members is known as
Consumer Co-operative
Producer Co-operative
Thrift and Credit Co-operative
Multi-purpose Co-operative
Trade Union
Correct answer is C
No explanation has been provided for this answer.