The percentage of cash required of commercial banks to hold or keep in reserves as against the bank’s total deposits is referred to as Cash Reserve Ratio. The cash reserve is either kept in the bank's vault or sent to the Central Bank of a country. Banks are not permitted to lend CRR funds to corporations or individual borrowers, and they are not permitted to invest in CRR funds.
According to the Central Bank of Nigeria, Nigeria's cash reserve ratio remained unchanged in January, at 27.50 percent, from 27.50 percent in December of 2021.
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