• POLITICAL SOCIALIZATION
    GOVERNMENT

    POLITICAL SOCIALIZATION

    Political socialization is defined as the process of acquiring political beliefs, values, attitude as well as citizenship training that shapes a citizen’s political behaviour. It is also the process of political learning from childhood to adulthood. It is a life-long developmental process.   Agents of Political Socialisation The following are the agents of political socialization: Family unit: Transmission of knowledge about politics, authority and allocation of values probably starts at home. The child’s knowledge and experience of political activities start at family unit. The peer group: The group one moves with helps to dictate or at least influence one’s political emotion. Institutions of learning: Schools, colleges and other educational institutions…

  • MONEY MARKET
    ECONOMICS

    MONEY MARKET

    Money market can be defined as a market for short-term loan. The market consists of institutions or individuals who either have money to lend or wish to borrow on a short-term basis.   Instruments used in the money market Treasury bills: Treasury bill is normally issued by the central bank of a country, which assists the government to borrow money from the money market on short-term basis. Bill of exchange: Bill of exchange refers to a promisory note which shows the acknowledgement of indebtedness by a debtor to his creditor and his intention to pay the debt on demand or at an agreed time in future, normally ninety (90) days.…

  • MORTGAGE BANKS
    ECONOMICS

    MORTGAGE BANKS

    Mortgage banks are financial institutions that specialise in granting loans to individuals and corporate bodies for building purposes. Such loans are repaid by instalments and can be spread over several years. Mortgage banks accept deposit from the investing public at a rate of interest and use the fund to lend, at a higher rate of interest, to people who wish to purchase their own houses. The Federal Mortgage Bank was established with headquarters in Lagos to encourage people to save in order to own their houses. This is the apex mortgage bank which works with other state housing corporations and mortgage institutions. The Federal Mortgage Bank supervises other mortgage institutions…

  • MEANING OF FINANCIAL INSTITUTIONS
    ECONOMICS

    MEANING OF FINANCIAL INSTITUTIONS

    Financial institutions refer to all business organisations which hold money for individuals and institutions and may borrow from them in order to give loans or make other investments. Financial institutions are very important for the economic development of a nation. They represent the main channel or medium by which funds can flow from lenders to borrowers.   TYPES OF FINANCIAL INSTITUTIONS Financial institutions may be divided into two major groups – banking and non-banking financial institutions. The major difference between the banking and the non-banking financial institutions is that the liabilities of the banking institutions are counted as part of the total supply of money while those of the non-banking…

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