Many of our clients who offer non-essential services according to government’s directives, for example, schools and crèches, bars and lounges, e.t.c have been expressing concerns over their rent that is running and business is on a complete halt or has terribly slowed down.
The Corona Virus Pandemic has resulted in disruptions to global supply chains, a sharp drop in global crude oil prices, turmoil in global stock and financial markets, massive cancellation of sport and entertainment events and intercontinental bans across critical air, land and sea routes around the world. In short, the pandemic has hit the world really hard. Lock downs have caused commercial activities to plummet resulting in free fall of revenues.
It is now no news that Corona Virus, otherwise known as COVID-19 has been declared a public health emergency of international concern by the World Health Organization (WHO) as several nations across the world are suffering from this pandemic.
Now the issue this article seeks to address is, what effect or impact will COVID-19 have on existing obligations under contracts? The global impact of the outbreak continues to worsen and cause disruption to commercial activities and international trade, thereby increasing the risk of businesses being unable to perform their contractual obligations.Continue reading “THE CRIPPLING IMPACT COVID-19 WILL HAVE ON MOST CONTRACTS”
On the 3rd day of May 2020, 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?”
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 whistle blowers from reprisals, victimisation, isolation and humiliation, which are some of the inherent consequences of whistle-blowing, it is most unfortunate that this bill does so little in data protection.Continue reading “WILL THE WHISTLE BLOWERS PROTECTION BILL INDEED PROTECT YOU?”
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 assets in loans.
Despite these shows put up by banks, I’d advise that you take a break before signing those papers. Consider critically that which you’re taking the loan for, whether it is one through which you can gain back the loan at least one and a half times over.Continue reading “BEFORE YOU TAKE THAT BANK LOAN…”
Our friend is a DJ and he was contracted to perform at a party by Mr. O. DJ performed so well that to show how impressed he was with all the songs that were played at his party, Mr. O requested that DJ borrow him his laptop till the next day so that he could copy his play list.
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 most troublesome partner anyone could ever have) informed them of our reason for coming and one of the officers – Mrs. B was so excited about it and enlightened us on several actions that could be taken against the owner and occupants of the house constituting such nuisance as we had reported. She went to town in citing statutory provisions and instances which reiterate their powers to abate nuisance.
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.