Which of the following is a development bank in Nigeria?

Assessment: JAMB UTME - Commerce - 2006 Subject: Commerce

Question 1 Report

Which of the following is a development bank in Nigeria?
Answer Details
Among the given options, the Federal Mortgage Bank is a development bank in Nigeria. The Federal Mortgage Bank of Nigeria (FMBN) is a government-owned development bank established to provide affordable credit and long-term loans to mortgage institutions in Nigeria. The bank was established in 1956 and has since been providing funds for building, purchasing, and improvement of residential houses for Nigerians.
Read lesson note on Finance And Financial Institutions (WAEC)
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