a) Britain set up the first bank in Nigeria because …
A it would make trade easier.
B they could own another currency, the Nigerian pound, which would make
them wealthier.
C it would help Nigerians.
D they felt guilty about being colonialists.

b) African Banking Corporation was owned by …
A Nigeria.
B Britain.
C colonials.
D Nigeria and Britain.

c) Indigenous banks refer to banks that are …
A owned by Nigerians.
B managed by Nigerians.
C owned and managed by Nigerians.
D owned by Britain and managed by Nigerians.

d) The Central Bank of Nigeria were faced with difficulties because …
A there were no proper regulations installed.
B Nigerian currency was not accepted.
C the government made it challenging.
D Nigerians, at the time, preferred cash.

e) The military decree gave control of the bank’s regulations to …
A Nigerians.
B the government.
C the Federal Executive Council.
D Britain.

f) A Synonym for regulations is …
A rules.
B law.
C both A and B.
D to keep in line.

a) The military established regulations for banks by reading a declaration.

b) The bank opened two new branches that could invest money.

c) We learn about financial institutions so that we can insure our money.

d) Commercial banks accept deposits and use the money for investments.