Which financial institution is charged with the formulation of monetary polices in Nigeria?

  • A The Central Bank of Nigeria
  • B The Nigeria Deposit Insurance Corporation
  • C The Abuja Commodity Exchange
  • D The Lagos Stock Exchange
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The correct answer is A. The Central Bank of Nigeria

The Central Bank of Nigeria (CBN) is responsible for formulating and implementing monetary policies in Nigeria to achieve price stability, ensure monetary stability, and promote a sound financial system in the country.

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