. next steps 15. the central bank of nigeria is very pleased to be partnering with the gates foundation and looks forward to the next phase of the project. it is imperative that going forward, a determination is made of additional information that may be relevant to our inclusion and regulation efforts that are not already accounted for in this round. 16. other non - conventional financial access points should be captured and included in the report such number of people and value of transactions that pass through motor parks, markets and such other hubs where financial activities are carried out to help determine the general level of activities in the informal financial sector. conclusion 7. in conclusion, i believe that we are taking a very important step here today and the partnership between the central bank of nigeria and the bill and melinda gates foundation will go a long way in ensuring that our efforts to realize the targets set are a success. i look forward to a continued collaboration. thank you. bis central bankers ’ speeches

launched the extensible business reporting language ( xbrl ) project that will simplify data collection and reporting by banks and other regulated institutions while also facilitating in - depth and timely analysis at the bank. we have continued with process re - engineering and organisational restructuring to deliver on our extended mandate, to meet new challenges, and to incorporate new technology. in addition to the intelligence, compliance, and enforcement section mentioned earlier, we also set up a specialised unit for reserve management to serve as the nucleus for a middle office and risk management division which we created just after the period covered by this report. we re - jigged the economic research division and tasked it with developing our forecasting and modeling capacity to support our expected move to an explicit inflation targetingregime. none of these moves would have been possible without recruiting new staff, with the requisite experience, at an appropriate level in the bank ’ s hierarchy. already a technologyintensive industry, banking will become a battlefield for still more disruptive technologies in future. an ageing staff, with dated skills and outmoded work habits, will be hard - pressed to cope with the emerging challenges facing the regulator. we placed considerable emphasis on upgrading our in - house skills and recruiting new blood. we opened our doors to regular graduate interns two years ago. we followed it up this year by launching a graduate trainee programme which will allow the bank to spot potential new recruits, enhance its professional competence, and rejuvenate its workforce. the rupee goes polymer last august, the honourable prime minister launched our very first polymer bank notes, which have been in circulation since then. i am happy to say that two of the three polymer bank notes have received international recognition. the rs25 polymer bank note and the rs500 polymer bank note were shortlisted for their state - of - the - art security features at the international association of currency affairs 2014 technical excellence in currency awards. our rs25 bank note came out 2nd in this contest. i am pleased to say that our efforts to adhere to the highest standards in all business areas have paid dividends. words of appreciation i have always been guided by my sens du devoir in discharging the immense responsibility entrusted to me by the prime minister to lead the central bank of the country in the midst of challenging times for our economy and our people. it has not been an easy ride. my task would have been still more difficult, had i not received the support of the staff of the