Overview
State the functions of: Central Bank of Nigeria; commercial banks bureau de change; and specialized banks. Explain types of accounts; Discuss forms of payment; Distinguish between the operations of specialized banks and commercial banks; Trace the origin of the Central Bank of Nigeria (CBN).
What you'll learn
- "Central Bank of Nigeria (CBN):
- Origin
- Functions
- Commercial Banks:
- Functions
- Types of account
- Current accounts
- Savings account
- Fixed deposit account
- Forms of payment:
- Automated Teller Machine (ATM)
- card
- Western Union
- Money gram
- Computer and the bank
- e-Banking.
- Specialized Banks:
- Development Bank
- Mortgage Bank
- Buildinq Societies.