The clearing house of all commercial banks in Nigeria is the
Answer Details
The clearing house of all commercial banks in Nigeria is the Central Bank. The Central Bank is the apex financial institution in Nigeria responsible for regulating and supervising the activities of commercial banks and other financial institutions. It acts as the banker to the government and also regulates the country's monetary policy. One of the major functions of the Central Bank is to provide a clearinghouse for all commercial banks in Nigeria. The clearinghouse is a mechanism that facilitates the exchange of checks and other payment instruments between banks. It ensures that payments made by customers of one bank to customers of another bank are settled in an efficient and secure manner. In this way, the Central Bank plays a crucial role in maintaining the stability and integrity of Nigeria's financial system.