economy. your excellencies, distinguished ladies and gentlemen, permit me at this juncture to mention other intervention programmes and schemes of the central bank of nigeria targeted at catalysing production and productivity in the real sector of our economy. these interventions include the n1. 0 trillion real sector facility ( rsf ), real sector support facility ( rssf ), anchor borrowers'programme ( abp ), commercial agriculture credit scheme ( cacs ), non - oil export stimulation facility ( nesf ), and textile sector intervention facility ( tsif ). specifically, these programmes and schemes have continued to receive resounding commendations, as they have proven to be effective in expanding credit and stimulating investments in the real sector. for instance, under the n1. 0 trillion real sector facility, the bank has released a total of n1. 40 trillion to 331 real sector projects in agriculture, manufacturing, mining, and services sectors. under its real sector support facility ( rssf ), the cbn has disbursed n166. 21 billion to 25 projects. in the agricultural sector, the bank's anchor borrowers'programme ( abp ) has disbursed n927. 94 billion to over 4. 5 million smallholder farmers for the cultivation of 21 commodities across the country. also, the bank has financed 666 large - scale agricultural projects with the potential of creating an estimated 70, 070 direct and indirect jobs under its commercial agriculture credit scheme ( cacs ). 2 / 4 bis - central bankers'speeches your excellencies, distinguished ladies and gentlemen, with the significant opportunities in the real sector, there remains sufficient room for additional investments in the various sub - sectors and i would like to urge potential investors to take advantage of the various cbn intervention programmes and schemes, as well as other financing options out there, to invest in key sectors of our economy given the potential gains that could be generated from them. let me assure all current and prospective operators in the industrial sector that the central bank of nigeria stands ready to continue to provide the needed support, financial and otherwise, to fast - track the development of our industrial sector. for those seeking to invest in new greenfield or existing brownfield projects, the bank will continue to provide all the needed support, both in naira and dollars specifically for the importation of plants and equipment to actualize these investments. it is pertinent to point out that the foreign exchange support will be solely for the

value accounting ; • the fsf has also endorsed principles for sound compensation practices that will better align compensation arrangements in financial firms with prudent risk taking, and make these arrangement subject to supervisory oversight ; • finally, we have endorsed principles for cross - border cooperation on crisis management that commit our members to cooperate in preparing for and dealing with financial crises. a significant amount of this work delivers on the g20 action plan and will be published as part of the london summit in the next few days. to be effective and retain legitimacy, the fsf ’ s international coordination activities need to involve the leading advanced and emerging economies. for this reason, we have recently announced the expansion of our national membership to encompass all of the g20 countries, as well as spain and the european commission. the expansion of the fsf ’ s membership will enhance the fsf ’ s ability to contribute to ongoing reforms of the international financial system. countries that are members of the fsf commit to co - operate in promoting financial stability, maintain the openness of the financial sector, endorse and implement international financial standards and to undergo periodic peer reviews of their financial, supervisory and regulatory arrangements. looking forward, the fsf needs to remain engaged with the most important issues and questions that have been raised by the present crisis. for example, as the turner review recognises, regulation needs to focus on the economic substance of financial activities, rather than the legal form assumed by institutions. we have learned that the activities of large, highly leveraged institutions of all kinds have significant systemic impacts and potentially pose critical systemic risks. for this reason, the fsf has initiated work to assess the proper perimeter of regulation – to evaluate which institutions, markets, instruments and activities need to be supervised directly with an eye to their systemic relevance, regardless of their legal form, and what regulatory tools are appropriate. finally, as authorities we need to improve our ability to recognise, assess and respond effectively to mitigate nascent systemic risks at the global level. this is by no means an easy task – as we have learned from the experience of the present crisis, many critical risks are hidden on and off the balance sheets of large, complex institutions, or in the exposures to complex financial instruments, or in the idiosyncratic characteristics of national markets. no single authority can realistically obtain a complete picture. yet, looking back on what was said by the fsf, the fsa and others in the leadup to the crisis, it is