Central bank is a financial institution which controls and supervises the entire monetary system of a country while Commercial bank may be defined as a financial institution which carries out retail banking services, set up for keeping and lending money to people, owned by organisations, individual or governments, for the purpose of making profits.

The Nigerian National Democratic Party (NNDP) was formed by Herbert Macaulay in 1923 thus becoming the first party in Nigeria and British West Africa. The party was formed to tight the Oluwa land case and to contest the three seats allocated to Lagos on the Legislative Council by the Clifford Constitution of 1922.