with in the global economic arena if we consistently do the right things at the right time. but we have to end the past practice of seeking quick fixes and easy solution. a resilient economy requires hard work, intelligence, consistency and time. we will go through difficulties in the short term. tough decisions have been taken and we will continue to take them. market condition must improve. we have made the point, and will continue to make the point that there are lines in this country that cannot be crossed. and that no one can be so rich or so powerful as to get away with putting an entire system at risk to feed personal greed. 22. as a final thought, there is no uniform effect, neither is there a single remedy to every crisis. each brings its own surprises and risks. clearly, we should not assume that past remedies will fully solve the current and next set of problems or address all future crises. the key is to take lessons from the past and tailor them appropriately to address future situations of potential crisis. thank you for listening.

##ed know your customer ( kyc ) requirements. the cbn is also leading the efforts of the bankers ’ committee to set up an industry - wide biometric database for all bank customers to address issues of kyc, anti money laundering ( aml ), and access to credit. this will help fast track use of channels such as biometric atms and pos terminals, etc. 7. at this point i would like to dwell more on the competency framework. in order to ensure that the banking industry has professionals with the requisite skills to maintain the stability of the financial system, an industry competency framework was developed and exposed in june 2012 by the cbn. the objective is to guide banking operations and address issues relating to the quality of human capital in leadership positions. the framework identifies 35 key control functions, in which significant influence is exerted on the conduct of a financial institution, to define and standardize the necessary skills and competencies required for both operators and regulators in the industry. a gap analysis on industry competency using the framework, was recently conducted which revealed results competencies ranging from 3 % to 85 %. the results have been exposed to the banks and remedial actions are currently being proposed to focus those with low competency ratios to get them to an acceptable level. the cbn also recently released the national financial literacy framework ( nfis ). the financial literacy steering committee has been set up under my leadership in line with the nfis. one of the most interesting elements of this project is a requirement for the governor and deputy governors of the cbn and all bank ceos to take time and teach financial inclusion to youths in secondary schools. i have already had my own baptism of fire from very intelligent students of regent school, abuja, nigeria. in september 2013, i will also teach a class made up of up to 100 students drawn from 3 ( three ) public schools in abuja. this will continue on designated financial literacy days. the classes and the questions and answers session will be broadcasted on national television and radios nationwide. banks are also required to increase communication in indigenous languages to enhance financial literacy. 8. in 2010 cautionary lending was the order of the day as a result of the global financial crises. with the quantitative easing measures of the cbn and the intervention of amcon, financial institutions began to recover from the effects of the crises. specifically in agriculture, the cbn worked with the federal government to set up the commercial agriculture credit scheme ( cacs )