To guarantee financial stability as Nigeria continues with flexible exchange rate system, the CBN took a number of steps, including: o Monitoring compliance of supervised institutions with  the  foreign  exchange  management  framework issued in June 2016 through our riskbased supervision methodology, which also involved reviewing international trade and foreign exchange operations of local banks; o Monitoring the financial position and performance of supervised institutions; o Assessment of the risk profile and governance management practices of banks o In the event of major deteriorations on any key risk indicator, we engaged with the affected bank in 29  order to mitigate concerns and shore-up their capital base.
35. As I have always emphasized, it is our collective duty to ensure that the potentials and prospects of the Nigerian economy is optimally realized. The ongoing economic recovery requires the joint efforts and wise counsel of everyone seated here, if we must make giant strides forward.