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If you missed the CBN Governor's interview on Arise TV, here is a summary. On FX Backlogs - We met $7 Billion in unpaid obligations - We had reason to believe we needed to take a harder look at those obligations. - Deloitte was contracted to do a forensic audit of what is valid or not. The results were startling -- $2.4 Billion had issues -- Not having valid import documents -- Entities did not exist got allocations -- Entities who asked for FX got more than they asked. -- Entities that did not ask got allocations - We wrote to the authorized dealer to explain. Sadly much has not been disputed. - $2.3 Billion of the validly executed ones including Airlines have been cleared. - What remains is $2.2 billion. We are confident we will address those. We have come to the end of the road. - The Naira remains undervalued - The Naira will stabilise.