Does the Central Bank of Nigeria have the power to stop banks from laying off their staff?

On the 3rd of May a press statement banning all banks from laying off staff (full time and part time) during this pandemic was released by the CBN. This press statement was an outcome of a meeting held between them and the Bankers’ Committee (this committee comprises of representatives from every bank in Nigeria. The Apex Bank in this press statement also stated that its approval must be sought if it becomes absolutely necessary to lay off or retrench staff.

The question begging for answer is, “Does the CBN have such power?”

WILL THE WHISTLE BLOWERS PROTECTION BILL INDEED PROTECT YOU?

The Whistle Blowers Protection Bill recently passed by the Senate was passed to help ensure the safety of citizens who blow the whistle against public officers and public bodies that indulge in improper conducts. Even though the chairman of Committee on Judiciary, Human Rights and Legal Matters enthusiastically stated that the bill would ensure adequate protection of

DIVORCE, JUDICIAL SEPARATION OR SEPARATION: WHAT YOU MUST KNOW.

We must be able to spot the difference, regardless of confessions of love. In my experience, both parties in most abusive marriages still profess undying love to each other even when one of the parties is dying…

BEFORE YOU TAKE THAT BANK LOAN…

 Bank loans are so easy to get nowadays. Bank loan marketers are as frequently seen on the street as coca cola hawkers. Many mobile applications have been developed basically to bring bank loans as close to you and easy to obtain as it can possibly get. In fact, most banks have up to 50% of their

THE POLICE IS UNJUST – A FOLLOWER’S STORY

   One of the followers of Your Lawyer Friend shared this story with me and wants you to learn from it. Consider this a follow up to THE ACCUSED AND THE COMPLAINANT – POLICE’S MEAL TICKET. Our friend is a DJ and he was contracted to perform at a party by Mr. O. DJ performed

IS IT A BRIBE?

  Sometime last year I was at one of the Public health offices in Ibadan to move health officers (popularly known in the Southwest as ‘Wolewole’) to inspect a house we believe is likely to pose environmental and health hazard to neighboring house owners and occupants due to termite infestation. On getting there, I (and

THE ACCUSED AND THE COMPLAINANT – POLICE’S MEAL TICKET

  When people feel cheated or where a crime is committed, they hurriedly report to the police, sometimes with the instruction that the suspect be charged to court, other times, without such instructions. Either way, they trust the police to do what is in their (complainant’s) best interest. Every now and again, I defend accused

READ, UNDERSTAND, THEN SIGN.

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