The ECOBANK is the initiative of
COMMERCE
POST UTME OOU
The ECOBANK is the initiative of
- A) some well-meaning Nigerian shareholders
- B) the Federal Government of Nigeria
- C) West African States to foster trade
- D) the Lagos State Government to enhance capital mobilization
Correct Answer: C) West African States to foster trade
Explanation
ECOBANK was established as an initiative by West African States to promote and facilitate trade within the region. The bank aims to support economic development and integration among the countries in West Africa. By providing banking services and financial solutions, ECOBANK contributes to the growth of trade and business activities in the region.It is important to note that although ECOBANK may have Nigerian shareholders and may have received support or involvement from the Nigerian government, the main purpose and initiative behind its establishment is to foster trade among West African States.
To learn more about ECOBANK and its role in promoting trade in West Africa, please read the relevant sections of the recommended textbooks.
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