Functions of Banks
This lesson covers the functions of the Central Bank of Nigeria, commercial banks, and specialized banks. It explains the types of bank accounts, forms of payment, and the differences between commercial and specialized banks. The origin of the Central Bank of Nigeria is also discussed.
- 02:29 “goldsmiths initially, it was as the goldsmiths doing the merchants a favor. But in this stage of development of the banking system, when the merchants were now being induced with interest that is keep your money with us...”
- 00:00 “Hello, good day and welcome to class. My name is Miss Lydia and in our commerce class today we will be treating another Aids to trade which is banking. Now by the end of this class, I expect you to be able to state the f...”
- 04:03 “That is, a private individual can set up a commercial banks and they can also be owned by organizations at these institutions and the government. Now commercial banks are limited liability companies. Now some examples of...”
Financial Institutions Overview
This lesson defines financial institutions and lists the types of banking and non-banking financial institutions. It also explains the key differences between these institutions and their functions in the economy.
- 03:25 “higher-purchase companies, building societies. Let's now define a bank. What is a bank? A bank is a commercial institution which performs various financial activities such as accepting and handling of deposits of its cus...”
- 14:24 “industries by giving out long term loans to such industries. Examples of development banks in Nigeria are Nigeria industrial development bank NIDB. Nigeria bank for commerce and industry NBCI and Nigerian agricultural an...”
- 04:16 “The types of banks, the major types of banks include those listed under the banking financial institution. That is these. All these institutions here are also those included under types of banks. Now let now explain the...”
Meaning and Types of Trade
The lesson explains the concept of trade as the buying and selling of goods. It describes the types of trade, including own trade and foreign trade, and outlines the services that facilitate trade. The role of Customs and Excise in foreign trade is also discussed.
- 12:35 “Clients, sellers, manufacturers, producers and agreements in order to save guide money owned by organizations or even individuals. It is also lending us money to entities, corporations, big organizations, many organizati...”
- 11:48 “What are the aids to trade? We have different aids to trade. What are the ways where trades can be easy and where traders can facilitate and make life more better for them? One, banking. We will see these in details in o...”
- 13:21 “It costs money. So banking managers, even executives, they loan to managers, they loan to big executives in order to help them with productivity. Banks provide financial loans and aids. For example, scholarship. If a stu...”
Types of Occupations
The lesson covers the definition of occupation and the various types of occupations. It explains industrial, commercial, and service occupations, along with examples of each type.
- 03:51 “Banking, at least you've seen different types of banks. We have access bank, we have GTV and the rest. And advertising. The regular advertisements you see on your TV. So they help you. They help you want that particular...”
- 08:24 “you need to know that there are certain things to do. There are certain measurements to go through. There are certain temperatures to actually experience what the product will come out of the right way. Education, withou...”
- 00:47 “The regular things you see out there, the biscuits you see out there, the chocolates you see out there, the cakes you see out there, those are goods. Services are what you experience when you go to the bank in order to e...”
Commercial Arithmetic: Profit and Loss
This lesson covers the concepts of profit and loss in commercial arithmetic. Students will learn to identify cost price and selling price, and how to calculate profit or loss these values. The lesson also includes calculating profit or loss in percentage.
- 15:48 “In the hope of getting more money back, you get that. So, when there is a loan, there is an investment, there is going to be an interest. So, looking at the relationship between the three. Now, looking at it, there are t...”
- 15:00 “Now, a loan is an amount of money you borrow. When you borrow money, they call it a loan. Boy, that you most normally pay back with interest. You pay back a loan. You take a loan. You take a loan from your bank. You take...”
- 16:33 “The loan is given. That's the loan. And the loan is used for investment. That's investment proposed. Now, when you use for investment proposed, at the end of the day, is expected to pay something back for the loan. And t...”