Nigeria’s central bank (CBN) plans to address a USD 10 bln backlog in FX demands within two weeks. The acting governor, Ade Shonubi, stated that CBN would partner with local banks to meet this demand and shift CBN’s role from an active market participant to a regulator to boost investor confidence and stabilize the FX rate, especially as the quick depreciation of the naira has been a cause of concern for businesses and startups. Shonubi also refuted reports claiming that CBN owes USD 7 mln to JP Morgan, labeling them as misinformation.