A. a commercial bank
B. a development bank
C. an industrial bank
D. a merchant bank
Correct Answer:
Option B = a development bank
Explanation
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.
Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…
Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…
Do you want to study Cooperative and Business Management in OOU? Before you apply for…
Do you want to study Home and Hotel Management in OOU? Before you apply for…
Do you want to study Animal Production in OOU? Before you apply for the OOU…
Do you want to study Crop Production in OOU? Before you apply for the OOU…