The Nigerian bank for commerce and industry is?

  • A a commercial bank
  • B a development bank
  • C an industrial bank
  • D a merchant bank
jamb 2020economics

The correct answer is B. a development bank

Development banks are specialized banks that provide medium and long-term finance to the industrial and agricultural sectors. The Nigerian bank for commerce and industry is an example of a development bank. It provides loans and finances for entities involved in the industrial and agricultural sectors.

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