All of the following are examples of public corporation in Nigeria EXCEPT?

Step 1: Analyze the question The question asks which option is NOT a public corporation. So we are looking for the odd one out, an organisation that is not owned and controlled by the government.

Step 2: Explain the concept A public corporation (also called a parastatal) is a business or agency that is:

• Established by an Act of the National Assembly (or a decree/law)
• Wholly or majorly owned and financed by the government
• Set up to provide essential services or to carry out specific government functions
• Managed by a board appointed by the government

A public limited company (plc) is different. It is owned by private shareholders, its shares can be traded on the Nigerian Exchange (NGX), and it is registered under the Companies and Allied Matters Act (CAMA). Its main aim is profit for shareholders.

Step 3: Check each option

• A. Joint Admissions and Matriculation Board (JAMB) is established by an Act of government and is a federal government agency. It is a public corporation.
• B. Nigerian Steel Development Authority was set up by the government to develop the steel industry. It is a public corporation.
• C. Zenith Bank plc is a private commercial bank. It is owned by private shareholders, quoted on the stock exchange, and run for profit. It is not a public corporation.
• D. Nigeria Railway Corporation (NRC) is owned by the federal government and provides rail transport. It is a public corporation.

Step 4: Answer The exception is C. Zenith Bank plc.

Step 5: Exam tip Notice the word "plc" (public limited company) and don't be fooled by the word "public". A plc is privately owned by shareholders, while a public corporation is government owned. Also, public corporations often carry words like "Board", "Authority", "Commission" or "Corporation" in their names, though a name alone can't always confirm it.

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